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Liberty Broadband Shareholders Approve Merger with Charter Communications

In a significant move for the telecommunications landscape, shareholders of Liberty Broadband have given their stamp of approval for a proposed merger with Charter Communications.

Virtual Meeting Led by John Malone

 

On Wednesday, John Malone, the chairman of Liberty Broadband’s board, conducted a brief 7-minute virtual meeting where shareholders voted on the merger. This deal, first announced in November 2024, involves Charter, a major player in the cable TV industry led by CEO Chris Winfrey, acquiring Liberty Broadband in an all-stock transaction.

Unanimous Recommendation from Special Committee

 

The proposed transaction received a unanimous recommendation for approval from a special committee of independent directors, who were supported by independent financial and legal advisors. This highlights the thorough due diligence undertaken to ensure the best interests of all stakeholders.

Board Approvals and Key Assets

 

Both the boards of directors for Charter and Liberty Broadband have also endorsed the merger, which includes significant assets such as a 26 percent stake in Charter and its subsidiary GCI, Alaska’s largest broadband and wireless provider, led by CEO Ron Duncan.

Future of GCI and Other Investments

 

Post-merger, GCI is anticipated to be spun off, allowing Liberty Broadband to focus on its core investments. Additionally, Liberty Broadband holds a 16.5 percent stake in Comscore, a prominent analytics and audience measurement company, further diversifying its portfolio.

Timeline for the Acquisition

 

The acquisition by Charter is projected to finalize by June 30, 2027, unless the companies agree to a different timeline. Notably, Liberty Broadband was spun off from Malone’s Liberty Media Corp. in 2014, with a strategic focus on telecommunications investments.

Advisory Teams for the Deal

 

In terms of advisory roles, Centerview Partners is acting as the financial advisor to the special committee of Charter, while Citi serves as financial advisor to Charter itself. Legal counsel for the special committee is provided by Wachtell, Lipton, Rosen & Katz, and J.P. Morgan is advising Liberty Broadband, with O’Melveny & Myers LLP as their legal counsel.

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Persons

John Malone, Chris Winfrey, Ron Duncan

Company Names

Liberty Broadband, Charter Communications, GCI, Comscore

Titles

 

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