Liberty Media CEO: Charter Will Be Cable’s “First Stop” For System Sales After Deal With Comcast

This is one reason why Liberty Media says today that it will spin off its 26% ownership stake in Charter along with other assets in a publicly traded entity to be called Liberty Broadband. John Malone’s company originally planned to have a tracking stock. But the change will offer investors “greater choice, enhanced transparency, [and is] well timed with Charter’s agreements with Comcast,” Liberty CEO Greg Maffei told analysts. Charter will buy 1.4M subs from Comcast and pick up a 33% stake in a new company (temporarily called SpinCo) with 2.5M subs. That will make Charter “first stop for other cable sales,” Maffei says. The dealmaking process will be “made more easy by having a separated Liberty Broadband stock.” (more…)

This article was printed from https://deadline.com/2014/05/liberty-media-ceo-charter-will-be-cables-first-stop-for-system-sales-after-deal-with-comcast-726579/