Liberty Broadband to merge into Charter: 0.236 share ratio, GCI spin-off ahead

Liberty Broadband Corp

Liberty Broadband shareholders receive 0.236 Charter Class A shares per common share; preferred shares exchanged for Charter preferred.
Prior to closing, Liberty Broadband will spin off GCI into Spinco; Charter bears corporate-level tax on the divestiture.
Malone and Maffei stockholders (~52% voting power) entered voting agreements to support the merger.
Deal requires majority approvals from unaffiliated stockholders of both Liberty and Charter; includes $460M termination fee.
Post-merger, former Liberty shareholders would own ~23% of Charter Class A common and ~24.2% of Charter voting power.

item 1.01 item 3.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed (interim)

John C. Malone

interim Chief Executive Officer

LBRDA · Liberty Broadband Corp

Effective: 2024-12-31
Filed: November 13, 2024, 6:59 PM ET

Liberty Broadband’s Chairman, Mr. Malone, will assume the additional role of interim Chief Executive Officer of Liberty Broadband at that time.

Departed

Gregory B. Maffei

President and Chief Executive Officer

LBRDA · Liberty Broadband Corp

Effective: 2024-12-31
Successor: John C. Malone
Filed: November 13, 2024, 6:59 PM ET

Mr. Maffei, the President and Chief Executive Officer, and a member of the Board of Directors of Liberty Broadband, notified Liberty Broadband that he will be stepping down from these roles at the end of 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John C. Malone changed role as interim Chief Executive Officer at Liberty Broadband Corp.

Action: assume the additional role of
Role: interim Chief Executive Officer

Exact text from the filing

Liberty Broadband’s Chairman, Mr. Malone, will assume the additional role of interim Chief Executive Officer of Liberty Broadband at that time.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gregory B. Maffei departed as President and Chief Executive Officer at Liberty Broadband Corp.

Action: stepping down
Role: President and Chief Executive Officer

Exact text from the filing

Mr. Maffei, the President and Chief Executive Officer, and a member of the Board of Directors of Liberty Broadband, notified Liberty Broadband that he will be stepping down from these roles at the end of 2024.

View on SEC.gov

Liberty Broadband Corp filing history →

Source: SEC EDGAR

accession 0001104659-24-117312

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