Charter pays USD1.2bn for Liberty Broadband shares as part of stockholder agreement

9 Nov 2021

Between 1 August and 31 October 2021 Liberty Broadband sold 1.5 million shares of Charter Communications Class A common stock to Charter for total proceeds of approximately USD1.2 billion, it has been revealed. The transaction was carried out under the terms of the existing stockholder agreement between the two companies and confirmed in Liberty’s 3Q21 report.

The company stated: ‘Liberty Broadband has sold and will continue to sell to Charter a number of shares of Class A common stock as is necessary to maintain Liberty Broadband’s percentage equity interest at 26% on a fully diluted basis. Such sales are executed by Liberty Broadband monthly based on Charter’s repurchase activity in the month prior.’

TeleGeography notes that Liberty Broadband’s principal asset is its 26% ownership stake in US cable giant Charter Communications, although it also holds a 100% stake in GCI, the largest communications provider in Alaska.

United States, Charter Communications (Spectrum, incl. Spectrum Mobile), GCI Communication Corp, Liberty Broadband