Deals
John Malone’s Liberty Broadband Seeks Merger With Charter Cable
- Malone holds significant interests in both public companies
- Billionaire is seeking to eliminate multiple classes of stock
John Malone
Photographer: Drew Angerer/Getty Images
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Liberty Broadband Corp., one of cable billionaire John Malone’s holdings, soared the most ever after the company revealed it’s in merger talks with Charter Communications Inc., another key holding of the media investor.
The Class A shares of Liberty Broadband rose as much as 25% to $76.35 Tuesday morning after the company said late Monday it had made a counteroffer to an initial pitch by Charter, which is one of the largest cable-TV companies in the US. Charter shares were down about 1%.