Liberty Broadband Reports Fourth Quarter and Year End 2024 Financial Results

Rhea-AI Summary

Liberty Broadband (LBRDA) has reported its Q4 and year-end 2024 results, highlighting significant corporate developments. The company has entered into a definitive merger agreement with Charter, where shareholders will receive 0.236 Charter shares per Liberty Broadband share. The transaction is expected to close on June 30, 2027.

Key financial highlights include: The fair value of Charter investment was $15.5 billion as of December 31, 2024. Liberty Broadband received $205 million from selling 541,000 Charter shares. GCI business, which is planned to be spun off in summer 2025, showed 4% revenue growth to $1.0 billion, with operating income of $144 million and Adjusted OIBDA of $362 million.

Charter will continue monthly repurchases of $100 million of its Class A common stock from Liberty Broadband until the merger completion, maintaining Liberty Broadband's ownership above 25.25%.

Positive

• Merger agreement with Charter providing 0.236 shares per LBRDA share
• GCI revenue grew 4% to $1.0 billion in 2024
• Business revenue increased 10% in Q4 and 7% for full year
• $205 million proceeds from Charter share sales
• $1.7 billion remaining in share repurchase authorization

Negative

• Consumer revenue remained flat in Q4 and full year
• GCI Adjusted OIBDA decreased 4% in Q4
• Increased selling, general and administrative expenses
• Higher capital expenditure requirements for 2025 ($250M vs $193M in 2024)

Insights

Financial Analyst

Liberty Broadband's Q4 and 2024 results reveal a company in strategic transition, with two major corporate actions reshaping its future: the pending Charter acquisition and planned GCI spin-off.

The Charter merger, approved by shareholders on February 26, establishes a 0.236 exchange ratio for Liberty Broadband shareholders, effectively valuing the company based on its Charter holdings (worth $15.5 billion as of December 31, 2024). This structure resolves the historical holding company discount while creating an elegant exit strategy for Liberty Broadband investors.

The interim financing arrangement is particularly noteworthy - Charter will purchase $100 million of its shares monthly from Liberty Broadband until closing, providing important liquidity for Liberty's debt service while maintaining Liberty's ownership above 25.25%. The $205 million already received from selling 541,000 Charter shares demonstrates this mechanism is functioning as designed.

For GCI, the Alaska-based telecom subsidiary slated for spin-off in summer 2025:

• Revenue grew 4% to $1.0 billion for 2024
• Business segment showed particular strength with 10% Q4 and 7% annual growth
• Consumer revenue remained flat as data growth offset wireless declines
• Adjusted OIBDA was $362 million, flat year-over-year

GCI's planned $250 million capital expenditure for 2025 represents a 29.5% increase from 2024's $193 million, targeting rural Alaska connectivity expansion. This investment aligns with regulatory requirements under the Alaska Plan while positioning the soon-to-be independent entity for growth in underserved markets.

The 2027 closing timeline for the Charter merger provides regulatory certainty while allowing the GCI spin-off to proceed independently, creating two distinct investment opportunities from the current Liberty Broadband structure.

Telecom Industry Expert

Liberty Broadband's Q4 results unveil a strategic restructuring that will reshape Alaska's telecommunications landscape while resolving the long-standing structural discount in Liberty's Charter holdings.

The Charter acquisition represents the culmination of Liberty's investment thesis - creating a clean ownership structure for Charter while unlocking shareholder value through the 0.236 exchange ratio. This transaction eliminates the typical holding company discount that has historically affected Liberty Broadband's valuation relative to its Charter stake.

The interim $100 million monthly share repurchase mechanism serves dual purposes: providing Liberty Broadband with liquidity for debt service while allowing Charter to continue its aggressive share repurchase program in a tax-efficient manner. This structure maintains Liberty's ownership above the critical 25.25% threshold until closing.

The planned GCI spin-off creates a pure-play Alaska telecommunications provider at a pivotal moment in the state's connectivity evolution:

• GCI's business segment growth (10% in Q4) reflects the critical infrastructure upgrades happening in Alaska's education and healthcare sectors
• The flat consumer revenue despite data growth offsetting wireless declines mirrors nationwide trends where fixed broadband strengthens while legacy wireless services mature
• The $250 million capital expenditure plan for 2025 represents one of the most significant infrastructure investments in Alaska's telecommunications history

The focus on rural Alaska connectivity through the Bethel and AU-Aleutians fiber projects positions GCI strategically against emerging LEO satellite competitors like Starlink, which have gained traction in remote regions. By investing in middle and last-mile fiber infrastructure, GCI is creating defensible competitive advantages in markets where terrestrial networks offer superior reliability and capacity compared to satellite alternatives.

These investments, partly driven by Alaska Plan regulatory requirements, also position GCI to capture additional federal funding through programs like the Rural Digital Opportunity Fund and Tribal Broadband Connectivity Program, potentially enhancing returns on the expanded capital deployment.

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Liberty Broadband Corporation (“Liberty Broadband”) (Nasdaq: LBRDA, LBRDK, LBRDP) today reported fourth quarter and year end 2024 results.

Headlines include ⁽¹⁾:

• On November 12, 2024, Liberty Broadband entered into a definitive agreement to be acquired by Charter
  • Transaction was approved at Liberty Broadband’s special meeting of shareholders on February 26, 2025 and is expected to close on June 30, 2027, unless otherwise agreed
  • Liberty Broadband expects to spin off its GCI business in the summer of 2025
• Fair value of Charter investment was $15.5 billion as of December 31, 2024
• From November 1, 2024 through January 31, 2025, Liberty Broadband received $205 million of proceeds from sale of 541 thousand Charter shares to Charter
• For the full year, GCI⁽²⁾ grew revenue 4% to $1.0 billion, generated operating income of $144 million and Adjusted OIBDA⁽³⁾ of $362 million

“Our merger with Charter is progressing well, including getting the requisite shareholder approval yesterday, and we are actively working towards spinning off GCI this year,” said John Malone, Liberty Broadband Chairman & CEO. “This transaction generates significant value for shareholders and we are enthusiastic supporters of Charter and their management team. We look forward to our continued partnership through the expected close date in 2027.”

Corporate Updates

On November 12, 2024, Liberty Broadband entered into a definitive agreement to be acquired by Charter. Holders of Liberty Broadband common stock will receive 0.236 of a share of Charter common stock per share of Liberty Broadband common stock held.

In each month until the completion of the proposed combination of Charter and Liberty Broadband, Charter will repurchase $100 million of its Class A common stock from Liberty Broadband, subject to certain timing adjustments, and, if necessary, will repurchase a greater amount or provide loans to Liberty Broadband, with such proceeds to be used by Liberty Broadband to satisfy certain of its debt obligations, provided that Charter’s share repurchases do not reduce Liberty Broadband’s ownership below 25.25%.

From November 1, 2024 through January 31, 2025, Liberty Broadband sold 541 thousand shares of Charter Class A common stock to Charter for total proceeds of $205 million. Such proceeds are to be used for debt service at Liberty Broadband within six months of receipt.

The transaction with Charter is expected to close on June 30, 2027 unless otherwise agreed, subject to the completion of the GCI spin-off and other customary closing conditions.

Share Repurchases

There were no repurchases of Liberty Broadband’s common stock (Nasdaq: LBRDA, LBRDK) from November 1, 2024 through January 31, 2025. The total remaining repurchase authorization for Liberty Broadband as of January 31, 2025 is approximately $1.7 billion, though repurchases of Liberty Broadband’s common stock are restricted by the merger agreement with Charter.

Balance Sheet

The following presentation is provided to separately identify cash and liquid investments, debt and public holdings of Liberty Broadband as of September 30, 2024 and December 31, 2024.

(amounts in millions)		9/30/2024				12/31/2024
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents(a):
GCI Holdings		$	53			$	75
Corporate and Other			121				154
Total Liberty Broadband Consolidated Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		$	174			$	229
Fair Value of Public Holdings in Charter(b)		$	14,769			$	15,524
Debt:
Senior Notes(c)		$	600			$	600
Senior Credit Facility			423				447
Tower Obligations and Other(d)			87				80
Total GCI Holdings Debt		$	1,110			$	1,127
GCI Leverage(e)			3.1x				3.1x
Charter Margin Loan		$	790			$	790
3.125% Exchangeable Senior Debentures due 2053(f)			965				965
3.125% Exchangeable Senior Debentures due 2054(f)			860				860
Total Corporate Level Debt		$	2,615			$	2,615
Total Liberty Broadband Debt		$	3,725			$	3,742
Fair market value adjustment and deferred loan costs			70				90
Tower obligations and finance leases (excluded from GAAP Debt)			(83	)			(76	)
Total Liberty Broadband Debt (GAAP)		$	3,712			$	3,756
Other Financial Obligations:
Preferred Stock(g)		$	180				180

a)		Includes $6 million of restricted cash at GCI as of September 30, 2024 and $1 million of restricted cash at GCI and $65 million of restricted cash at Liberty Broadband as of December 31, 2024. Liberty Broadband restricted cash consists of proceeds from Charter share sales to be used towards debt service.
b)		Represents fair value of the investment in Charter as of September 30, 2024 and December 31, 2024.
c)		Principal amount of Senior Notes.
d)		Includes the Wells Fargo Note Payable and current and long-term obligations under tower obligations and finance leases.
e)		As defined in GCI's credit agreement.
f)		Principal amount of Exchangeable Debentures exclusive of fair market value adjustments.
g)		Liquidation value of preferred stock. Preferred stock has a 7% coupon, $25/share liquidation preference plus accrued and unpaid dividends and 1/3 vote per share. The redemption date is the first business day following March 8, 2039. The preferred stock is considered a liability for GAAP purposes.

Liberty Broadband cash and restricted cash increased $55 million in the fourth quarter primarily due to proceeds from Charter share sales. GCI cash and restricted cash increased $22 million in the fourth quarter due to net debt borrowing and cash from operations, partially offset by capital expenditures.

Liberty Broadband debt increased by $17 million in the fourth quarter primarily due to additional borrowing under the GCI senior credit facility. There is $1,150 million of available capacity under the Charter margin loan. GCI’s credit facility has undrawn capacity of $342 million (net of letters of credit), and GCI’s leverage as defined in its credit agreement is 3.1x.

GCI Operating and Financial Results

		4Q23			4Q24			% Change			2023			2024			% Change
(amounts in millions, except operating metrics)
GCI Consolidated Financial Metrics
Revenue
Consumer		$	119		$	119		-	%		$	468		$	469		-	%
Business			131			144		10	%			513			547		7	%
Total revenue		$	250		$	263		5	%		$	981		$	1,016		4	%
Operating income		$	26		$	35		35	%		$	117		$	144		23	%
Operating income margin (%)			10.4%			13.3%		290	bps			11.9%			14.2%		230	bps
Adjusted OIBDA(a)		$	90		$	86		(4)	%		$	361		$	362		-	%
Adjusted OIBDA margin(a) (%)			36.0%			32.7%		(330)	bps			36.8%			35.6%		(120)	bps
GCI Consumer
Financial Metrics
Revenue
Data		$	58		$	59		2	%		$	233		$	238		2	%
Wireless			51			50		(2)	%			193			191		(1)	%
Other			10			10		-	%			42			40		(5)	%
Total revenue		$	119		$	119		-	%		$	468		$	469		-	%
Operating Metrics
Data:
Cable modem subscribers(b)												159,700			155,700		(3)	%
Wireless:
Lines in service(c)												197,300			198,800		1	%
GCI Business
Financial Metrics
Revenue
Data		$	110		$	127		15	%		$	427		$	469		10	%
Wireless			12			11		(8)	%			50			47		(6)	%
Other			9			6		(33)	%			36			31		(14)	%
Total revenue		$	131		$	144		10	%		$	513		$	547		7	%

a)		See reconciling schedule 1.
b)		A cable modem subscriber is defined by the purchase of cable modem service regardless of the level of service purchased. If one entity purchases multiple cable modem service access points, each access point is counted as a subscriber. Data cable modem subscribers as of December 31, 2024 include 900 subscribers that were reclassified from GCI Business to GCI Consumer subscribers in the first quarter of 2024 and are not new additions.
c)		A wireless line in service is defined as a wireless device with a monthly fee for services. Wireless lines in service as of December 31, 2024 include 1,800 lines that were reclassified from GCI Business to GCI Consumer lines in the first quarter of 2024 and are not new additions.

Unless otherwise noted, the following discussion compares financial information for the three and twelve months ended December 31, 2023 and December 31, 2024.

GCI revenue increased 5% in the fourth quarter and 4% for the full year. Consumer revenue was flat in both the fourth quarter and for the full year, as growth in data revenue was offset by declines in wireless and other revenue. Business revenue increased 10% in the fourth quarter and 7% for the full year driven by a strong upgrade cycle in schools and healthcare corporations in remote Alaska.

Operating income increased in the fourth quarter and the full year primarily driven by lower depreciation expense as certain assets became fully depreciated in 2023. Adjusted OIBDA decreased 4% in the fourth quarter and was flat for the full year as the shift to higher-margin business data revenue was primarily offset by increased selling, general and administrative expense due to increased salaries and headcount.

In 2024, GCI spent $193 million, net, on capital expenditures. Capital expenditure spending was primarily related to improvements to the wireless and data networks, particularly in rural Alaska. GCI’s net capital expenditures for 2025 are expected to be approximately $250 million related to additional investments in middle and last mile connectivity, with continued network expansion in GCI’s most important markets in rural Alaska including the Bethel and AU-Aleutians fiber projects. A significant portion of the increased capital expenditures in 2025 are related to fulfilling the build-out requirements of the Alaska Plan.

FOOTNOTES

1)		Liberty Broadband will discuss these highlights and other matters on Liberty Broadband’s earnings conference call that will begin at 11:15 a.m. (E.T.) on February 27, 2025. For information regarding how to access the call, please see “Important Notice” later in this document.
2)		Liberty Broadband’s principal operating asset is GCI Holdings, LLC (“GCI” or “GCI Holdings”), Alaska’s largest communications provider, and it also holds an interest in Charter.
3)		For a definition of Adjusted OIBDA and Adjusted OIBDA margin and applicable reconciliations, see the accompanying schedules.

NOTES

LIBERTY BROADBAND FINANCIAL METRICS

(amounts in millions)		4Q23				4Q24				2023				2024
Revenue
GCI Holdings		$	250			$	263			$	981			$	1,016
Corporate and other			-				-				-				-
Total Liberty Broadband Revenue		$	250			$	263			$	981			$	1,016
Operating Income (Loss)
GCI Holdings		$	26			$	35			$	117			$	144
Corporate and other			(13	)			(22	)			(44	)			(52	)
Total Liberty Broadband Operating Income (Loss)		$	13			$	13			$	73			$	92
Adjusted OIBDA
GCI Holdings		$	90			$	86			$	361			$	362
Corporate and other			(7	)			(17	)			(24	)			(35	)
Total Liberty Broadband Adjusted OIBDA		$	83			$	69			$	337			$	327

Important Notice: Liberty Broadband (Nasdaq: LBRDA, LBRDK, LBRDP) will discuss Liberty Broadband’s earnings release on a conference call which will begin at 11:15 a.m. (E.T.) on February 27, 2025. The call can be accessed by dialing (877) 407-3944 or (412) 902-0038, passcode 13749591, at least 10 minutes prior to the start time. The call will also be broadcast live across the Internet and archived on our website. To access the webcast go to https://www.libertybroadband.com/investors/news-events/ir-calendar. Links to this press release and replays of the call will also be available on Liberty Broadband’s website.

This press release includes certain forward-looking statements under the Private Securities Litigation Reform Act of 1995, including statements about business strategies, market potential, future financial prospects, capital expenditures, matters relating to Liberty Broadband’s equity interest in Charter and Charter’s buyback of common stock, Liberty Broadband’s participation in Charter’s buyback of common stock, the continuation of our stock repurchase program, expectations regarding Liberty Broadband’s combination with Charter and divesture of its GCI business and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, possible changes in market acceptance of new products or services, competitive issues, regulatory matters affecting our businesses, continued access to capital on terms acceptable to Liberty Broadband, changes in law and government regulations, the availability of investment opportunities, general market conditions (including as a result of inflationary pressures), the satisfaction of all conditions to the combination with Charter and market conditions conducive to stock repurchases. These forward-looking statements speak only as of the date of this press release, and Liberty Broadband expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty Broadband's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of Liberty Broadband, including the most recent Form 10-K, for additional information about Liberty Broadband and about the risks and uncertainties related to Liberty Broadband which may affect the statements made in this press release.

NON-GAAP FINANCIAL MEASURES

To provide investors with additional information regarding our financial results, this press release includes a presentation of Adjusted OIBDA, which is a non-GAAP financial measure, for Liberty Broadband (and certain of its subsidiaries) and GCI Holdings together with a reconciliation to that entity or such businesses’ operating income, as determined under GAAP. Liberty Broadband defines Adjusted OIBDA as operating income (loss) plus depreciation and amortization, stock-based compensation, separately reported litigation settlements, restructuring, and impairment charges. Further, this press release includes Adjusted OIBDA margin which is also a non-GAAP financial measure. Liberty Broadband defines Adjusted OIBDA margin as Adjusted OIBDA divided by revenue.

Liberty Broadband believes Adjusted OIBDA is an important indicator of the operational strength and performance of its businesses by identifying those items that are not directly a reflection of each business’ performance or indicative of ongoing business trends. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance. Because Adjusted OIBDA is used as a measure of operating performance, Liberty Broadband views operating income as the most directly comparable GAAP measure. Adjusted OIBDA is not meant to replace or supersede operating income or any other GAAP measure, but rather to supplement such GAAP measures in order to present investors with the same information that Liberty Broadband’s management considers in assessing the results of operations and performance of its assets. Please see the tables below for applicable reconciliations.

SCHEDULE 1

The following table provides a reconciliation of GCI’s operating income to its Adjusted OIBDA for the three and twelve months ended December 31, 2023 and December 31, 2024.

GCI HOLDINGS ADJUSTED OIBDA RECONCILIATION

(amounts in millions)		4Q23			4Q24			2023			2024
GCI Holdings Operating Income		$	26		$	35		$	117		$	144
Depreciation and amortization			61			50			230			207
Stock-based compensation			3			1			14			11
GCI Holdings Adjusted OIBDA		$	90		$	86		$	361		$	362

SCHEDULE 2

The following table provides a reconciliation of operating income (loss) calculated in accordance with GAAP to Adjusted OIBDA for Liberty Broadband for the three and twelve months ended December 31, 2023 and December 31, 2024.

LIBERTY BROADBAND ADJUSTED OIBDA RECONCILIATION

(amounts in millions)		4Q23				4Q24				2023				2024
Liberty Broadband Operating Income (Loss)		$	13			$	13			$	73			$	92
Depreciation and amortization			61				50				230				207
Stock-based compensation			9				6				34				28
Liberty Broadband Adjusted OIBDA (Loss)		$	83			$	69			$	337			$	327
GCI Holdings		$	90				86			$	361				362
Corporate and other			(7	)			(17	)			(24	)			(35	)

LIBERTY BROADBAND CORPORATION
BALANCE SHEET INFORMATION
(unaudited)
		December 31,			December 31,
		2024			2023
		amounts in millions,
		except share amounts
Assets
Current assets:
Cash and cash equivalents		$	163		158
Trade and other receivables, net			195		178
Prepaid and other current assets			65		94
Total current assets			423		430
Investment in Charter, accounted for using the equity method			13,057		12,116
Property and equipment, net			1,150		1,053
Intangible assets not subject to amortization
Goodwill			755		755
Cable certificates			550		550
Other			41		40
Intangible assets subject to amortization, net			411		461
Other assets, net			300		236
Total assets		$	16,687		15,641
Liabilities and Equity
Current liabilities:
Accounts payable and accrued liabilities		$	112		86
Deferred revenue			21		30
Current portion of debt			3		3
Other current liabilities			64		59
Total current liabilities			200		178
Long-term debt, net, including $1,897 and $1,255 measured at fair value, respectively			3,753		3,733
Obligations under tower obligations and finance leases, excluding current portion			72		83
Long-term deferred revenue			113		65
Deferred income tax liabilities			2,388		2,216
Preferred stock			201		202
Other liabilities			152		141
Total liabilities			6,879		6,618
Equity
Series A common stock, $.01 par value. Authorized 500,000,000 shares; issued and outstanding 18,251,013 and 18,233,573 at December 31, 2024 and 2023 respectively			—		—
Series B common stock, $.01 par value. Authorized 18,750,000 shares; issued and outstanding 2,007,705 and 2,025,232 at December 31, 2024 and 2023, respectively			—		—
Series C common stock, $.01 par value. Authorized 500,000,000 shares; issued and outstanding 123,022,488 and 123,704,814 at December 31, 2024 and 2023, respectively			1		1
Additional paid-in capital			3,007		3,107
Accumulated other comprehensive earnings (loss), net of taxes			73		52
Retained earnings			6,712		5,843
Total stockholders' equity			9,793		9,003
Non-controlling interests			15		20
Total equity			9,808		9,023
Commitments and contingencies
Total liabilities and equity		$	16,687		15,641

LIBERTY BROADBAND CORPORATION
STATEMENT OF OPERATIONS INFORMATION
(unaudited)
		Years ended
		December 31,
		2024				2023
		amounts in millions,
		except per share amounts
Revenue		$	1,016			981
Operating costs and expenses:
Operating expense (exclusive of depreciation and amortization shown separately below)			257			245
Selling, general and administrative, including stock-based compensation			460			433
Depreciation and amortization			207			230
			924			908
Operating income (loss)			92			73
Other income (expense):
Interest expense (including amortization of deferred loan fees)			(194	)		(206	)
Share of earnings (losses) of affiliate			1,323			1,155
Gain (loss) on dilution of investment in affiliate			(32	)		(60	)
Realized and unrealized gains (losses) on financial instruments, net			(125	)		(101	)
Other, net			18			27
Earnings (loss) before income taxes			1,082			888
Income tax benefit (expense)			(213	)		(200	)
Net earnings (loss)			869			688
Less net earnings (loss) attributable to the non-controlling interests			—			—
Net earnings (loss) attributable to Liberty Broadband shareholders		$	869			688
Basic net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share		$	6.08			4.71
Diluted net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share		$	6.08			4.68

LIBERTY BROADBAND CORPORATION
STATEMENT OF CASH FLOWS INFORMATION
(unaudited)
		Years ended
		December 31,
		2024				2023
		amounts in millions
Cash flows from operating activities:
Net earnings (loss)		$	869			688
Adjustments to reconcile net earnings (loss) to net cash from operating activities:
Depreciation and amortization			207			230
Stock-based compensation			28			34
Share of (earnings) losses of affiliate, net			(1,323	)		(1,155	)
(Gain) loss on dilution of investment in affiliate			32			60
Realized and unrealized (gains) losses on financial instruments, net			125			101
Deferred income tax expense (benefit)			170			168
Other, net			(4	)		(4	)
Change in operating assets and liabilities:
Current and other assets			43			20
Payables and other liabilities			(43	)		(126	)
Net cash provided by (used in) operating activities			104			16
Cash flows from investing activities:
Capital expenditures			(247	)		(222	)
Grant proceeds received for capital expenditures			54			6
Cash received for Charter shares repurchased by Charter			335			394
Cash released from escrow related to dispositions			—			23
Purchase of investments			—			(53	)
Other investing activities, net			(12	)		2
Net cash provided by (used in) investing activities			130			150
Cash flows from financing activities:
Borrowings of debt			1,139			1,501
Repayments of debt, tower obligations and finance leases			(1,201	)		(1,616	)
Repurchases of Liberty Broadband common stock			(89	)		(227	)
Indemnification payment to QVC Group			—			(45	)
Other financing activities, net			(30	)		(3	)
Net cash provided by (used in) financing activities			(181	)		(390	)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents			53			(224	)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period			176			400
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period		$	229			176

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250226708304/en/

Shane Kleinstein (720) 875-5432

Source: Liberty Broadband Corporation

FAQ

What are the terms of Liberty Broadband's (LBRDA) merger with Charter?

Liberty Broadband shareholders will receive 0.236 shares of Charter common stock per LBRDA share, with the deal expected to close on June 30, 2027.

How much revenue did Liberty Broadband's GCI business generate in 2024?

GCI grew revenue by 4% to reach $1.0 billion in 2024, with operating income of $144 million and Adjusted OIBDA of $362 million.

What is Liberty Broadband's (LBRDA) plan for the GCI business?

Liberty Broadband plans to spin off its GCI business in the summer of 2025, prior to the Charter merger completion.

How much did Charter pay Liberty Broadband (LBRDA) for share repurchases?

From November 2024 through January 2025, Charter paid $205 million to Liberty Broadband for 541,000 shares.

What are GCI's capital expenditure plans for 2025?

GCI expects net capital expenditures of approximately $250 million in 2025 for middle and last mile connectivity investments in rural Alaska.