Liberty Broadband Corp Stock Price, News & Analysis

NCTA – the Internet & Television Association, has released 'Every Last Mile,' a 20-minute docufilm highlighting the arduous efforts of broadband construction crews to bring digital connectivity to rural America. This film follows crews in Alaska, Arizona, and Minnesota, showcasing their struggles against challenging terrains, weather, and logistical issues. The release aligns with the 'Internet for All' initiative, supported by $42.45 billion in federal Broadband Equity, Access, and Deployment (BEAD) funds. Between 2022 and 2023, the cable industry has connected 1.3 million new rural homes and businesses, increasing gigabit speed access to 5.4 million homes and businesses. The film also complements NCTA's multimedia Rural Experience webpage, which details the extensive engineering efforts behind these broadband expansions.

Liberty Broadband (Nasdaq: LBRDA, LBRDK, LBRDP) announced an $800 million upsized private offering of 3.125% exchangeable senior debentures due 2054. The debentures, exchangeable for Charter Communications Class A common stock, offer initial purchasers an option to buy an additional $120 million worth. Each $1,000 principal amount is initially exchangeable for 2.5442 shares of Charter stock, with an initial exchange price of $393.05 per share. The offering, closing on July 2, 2024, aims to repay $500 million in margin loans, repurchase $300 million of Liberty’s 3.125% debentures due 2053, and for general corporate purposes. Interest payments are quarterly, starting December 31, 2024, and the debentures can be redeemed or purchased back on or after December 15, 2028.

Liberty Broadband (Nasdaq: LBRDA) announced a private offering of $500 million in exchangeable senior debentures due 2054, potentially increasing to $575 million if initial purchasers exercise their option to buy more. These debentures can be exchanged for Charter Communications Class A stock, or its cash equivalent, during specified periods. The company plans to use the proceeds for debt repayment and general corporate purposes. The offering is to Qualified Institutional Buyers and isn't registered under the Securities Act of 1933 or state securities laws.

Liberty Broadband (Nasdaq: LBRDA, LBRDK, LBRDP) announced that its Board of Directors has declared a regular quarterly cash dividend of $0.43750001 per share on its Series A Cumulative Redeemable Preferred Stock, payable on July 15, 2024, to shareholders of record as of July 1, 2024. Liberty Broadband operates a diverse range of communications businesses and holds significant interests in Charter Communications and GCI, Alaska's largest communications provider. GCI offers data, wireless, video, voice, and managed services across Alaska and nationwide.

Liberty Broadband (Nasdaq: LBRDA, LBRDK, LBRDP) will hold its virtual Annual Meeting of Stockholders on Monday, June 10, 2024, at 8:15 a.m. Mountain Time.

Stockholders of record as of April 16, 2024, can participate by logging in at the designated meeting website using their 16-digit control number provided on their proxy card or Notice of Internet Availability of Proxy Materials.

The meeting will allow stockholders to listen, vote, and submit questions. The webcast will also be available on Liberty Broadband's investor relations website, with an archive accessible post-meeting after SEC filings.

Liberty Broadband's principal assets include its stake in Charter Communications and GCI, Alaska's largest communications provider. GCI offers data, wireless, video, voice, and managed services throughout Alaska and nationwide.

Liberty Broadband reported first quarter 2024 results with key highlights: Fair value of Charter investment at $13.4 billion, share repurchases, GCI revenue flat at $245 million, operating income at $37 million, and Adjusted OIBDA at $90 million. Liberty Broadband's balance sheet shows cash decreased due to Charter share sales, GCI cash decreased from operations, and debt decreased as GCI repaid $60 million under its senior credit facility. GCI's financial results remained flat with revenue down 1% in Consumer segment, flat in Business segment, and net capital expenditures expected to be around $200 million for the full year 2024.

Liberty Broadband will be represented by its President and CEO, Greg Maffei, at the MoffettNathanson Media, Internet & Communications Conference on May 14th in New York City. Mr. Maffei will discuss the company's financial performance and future prospects.