Liberty Media aims to complete Liberty Broadband spin-off on 4 November

15 Oct 2014

Liberty Media has set the date for its planned spin-off of Liberty Broadband – the holding company that will house its interests in Charter Communications and satellite company True Position – as 29 October, with the process due to close on 4 November. The process will see Liberty distribute one-fourth of a share of Liberty Broadband Series A, Series B and Series C common stock for each Liberty Media share; cash will be issued in lieu of fractional shares of Liberty Broadband common stock.

Immediately following the spin-off, Liberty Broadband will consist of: Liberty’s 26% ownership interest in, and warrants to purchase additional shares of, Charter Communications; Liberty’s 100% ownership interest in TruePosition; a minority equity investment in Time Warner Cable (TWC); certain deferred tax liabilities; liabilities related to a TWC call option; and USD320 million in indebtedness.

United States, Liberty Media