LBRDA on NASDAQ

Liberty Broadband Corp

Logo: libertybroadband.com3

Liberty Broadband Corporation operates and owns interests in a broad range of communications businesses.1 It is headquartered in Englewood, Colorado.1 Its shares trade on NASDAQ under the symbol LBRDA.1

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Last updated Oct 21, 2026.

Overview

-$2.7BNet income, fiscal 20254

Compare with Liberty Capital Corp/NV, Cable One, Inc. or AMC Global Media, or pick any stock.

  • TickerLBRDA on NASDAQ1
  • IndustryCable & Other Pay Television Services1
  • HeadquartersEnglewood, Colorado1
  • Websitewww.libertybroadband.com
  • Business address12300 Liberty Blvd, Englewood, Co 801125
  • Filer categoryLarge accelerated filer5
Liberty Broadband Corp image from its website
Image: libertybroadband.com6

Liberty Broadband Corporation (“Liberty Broadband,” “the Company,” “us,” “we,” or “our”) is primarily comprised of an equity method investment in Charter.7 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-4.9%Operating margin4
85.5%Net margin4
3.6%Revenue growth, 20248
8.9%Return on equity4
0.27×Debt to equity4
-$143.0MFree cash flow8

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Selling, general and admin29¢$432.0M
  • Income tax13¢$187.0M
  • Profit58¢$869.0M

Out of $1.0B in revenue.84

Where each dollar of operating cash went, fiscal 2024

  • Capital spending74¢$247.0M
  • Share buybacks26¢$89.0M

Out of $104.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.84

Financial statements

Revenue91011128$1.0B in 2024+4465% since 2018
0$500.0M$1.0B$1.5B2018: $22.3M$22.3M20182019: $15.0M$15.0M2019−33%2020: $51.0M$51.0M2020+240%2021: $988.0M$988.0M2021+1837%2022: $975.0M$975.0M2022−1%2023: $981.0M$981.0M2023+1%2024: $1.0B$1.0B2024+4%
Operating income910111284-$50.0M in 2024+316% since 2018
-$100.0M-$75.0M-$50.0M-$25.0M02018: -$12.0M-$12.0M20182019: -$29.0M-$29.0M2019+141%2020: -$60.0M-$60.0M2020+107%2021: -$98.0M-$98.0M2021+63%2022: -$39.0M-$39.0M2022−60%2023: -$39.0M-$39.0M2023+0%2024: -$50.0M-$50.0M2024+28%
Net income910111284$869.0M in 2024+1142% since 2018
0$500.0M$1.0B$1.5B2018: $70.0M$70.0M20182019: $117.0M$117.0M2019+67%2020: $398.0M$398.0M2020+240%2021: $732.0M$732.0M2021+84%2022: $1.3B$1.3B2022+72%2023: $688.0M$688.0M2023−45%2024: $869.0M$869.0M2024+26%
Fiscal year2018201920202021202220232024
Revenue$22.3M9$15.0M10$51.0M11$988.0M12$975.0M8$981.0M8$1.0B8
Cost of revenue
Research and development$6.0M16
Selling, general and admin$23.5M9$33.0M10$76.0M11$442.0M12$395.0M8$399.0M8$432.0M8
Operating expenses$1.1B12$1.0B8$908.0M8$924.0M8
Operating income-$12.0M9-$29.0M10-$60.0M11-$98.0M12-$39.0M8-$39.0M4-$50.0M4
Interest$23.3M9$25.0M10$28.0M11$117.0M12$133.0M12$206.0M12
Income before tax$950.0M12$1.5B8$823.0M4$983.0M4
Income tax$21.9M9$38.0M10-$37.0M11$218.0M12$277.0M8$175.0M4$187.0M4
Net income$70.0M9$117.0M10$398.0M11$732.0M12$1.3B8$688.0M4$869.0M4
Earnings per share$0.399$0.6510$2.1811$3.9712$8.018$4.718$6.088
Earnings per share (diluted)$0.389$0.6410$2.1711$3.9312$7.968$4.688$6.088
Shares (weighted, basic)185.0M shares12157.0M shares8146.0M shares4143.0M shares4
Shares (weighted, diluted)186.0M shares12158.0M shares8147.0M shares4143.0M shares4

Compare Liberty Broadband Corp with another company

Corporate structure

Liberty Broadband Corp sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Liberty Broadband Corp

  • John C. Malone Filed SCHEDULE 13D/A on Liberty Broadband Corp, latest Aug 20, 2026 (9 filings since Jun 15, 2022)
  • Ronald A. Duncan Filed SCHEDULE 13D/A on Liberty Broadband Corp, latest Aug 20, 2026
  • Barclays Filed SCHEDULE 13G/A on Liberty Broadband Corp, latest Aug 13, 2026 (3 filings since Nov 12, 2025)
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Liberty Broadband Corp, latest Jul 31, 2026
  • Royal Bank of Canada Filed SCHEDULE 13G/A on Liberty Broadband Corp, latest May 15, 2026 (3 filings since Nov 14, 2024)
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Liberty Broadband Corp, latest Mar 27, 2026 (8 filings since Feb 10, 2022)
  • BlackRock Filed SCHEDULE 13G on Liberty Broadband Corp, latest Jan 21, 2026 (8 filings since Feb 4, 2022)
  • ARISTEIA CAPITAL, L.L.C. Filed SCHEDULE 13G/A on Liberty Broadband Corp, latest Nov 14, 2025 (4 filings since Feb 14, 2023)
  • STATE OF WISCONSIN INVESTMENT BOARD Filed SCHEDULE 13G/A on Liberty Broadband Corp, latest Nov 14, 2025 (2 filings since Aug 14, 2025)
  • CSS LLC/IL Filed SCHEDULE 13G on Liberty Broadband Corp, latest Aug 21, 2025
  • FPR PARTNERS LLC Filed SCHEDULE 13G/A on Liberty Broadband Corp, latest Feb 14, 2025 (5 filings since Feb 14, 2022)
  • UBS Filed SCHEDULE 13G/A on Liberty Broadband Corp, latest Feb 10, 2025 (2 filings since Oct 30, 2024)

Built from major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (2 companies). Each entity in the chart links to its source.

What it owns

What Liberty Broadband Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$679.0M8 Dec 31, 2024$530.0M8 Dec 31, 2023+28.1%
Finance-lease assets$5.0M8 Dec 31, 2024$6.0M8 Dec 31, 2023−16.7%
Operating-lease assets (leased space)$109.0M8 Dec 31, 2024$105.0M8 Dec 31, 2023+3.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$57.0M4 Dec 31, 2025$89.0M4 Dec 31, 2024−36.0%
Stakes in other companies (equity method)$8.7B4 Dec 31, 2025$13.1B4 Dec 31, 2024−33.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$755.0M8 Dec 31, 2024$755.0M8 Dec 31, 20230%
Finite-lived intangibles, gross$680.0M8 Dec 31, 2024$671.0M8 Dec 31, 2023+1.3%
Accumulated amortization$269.0M8 Dec 31, 2024$210.0M8 Dec 31, 2023+28.1%
Finite-lived intangibles, net$411.0M8 Dec 31, 2024$461.0M8 Dec 31, 2023−10.8%

Properties, in its own words

Liberty Broadband

In connection with the Broadband Spin-Off, a wholly owned subsidiary of Liberty entered into a facilities sharing agreement with Liberty Broadband, pursuant to which Liberty Broadband shares office facilities with Liberty located at 12300 Liberty Boulevard, Englewood, Colorado, 80112.

Item 2 of the 10-K filed Feb 5, 2026.7

Leadership

Who has led Liberty Broadband Corp, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (14)

Timeline

  1. Aug 21, 20268-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer34
  2. Jul 15, 20268-K Regulation FD disclosure35
  3. May 18, 20268-K Regulation FD disclosure36
  4. May 14, 20268-K Entered a material agreement; New debt or obligation37
  5. May 13, 20268-K Shareholder vote38
  6. Apr 21, 20268-K Regulation FD disclosure39
  7. Mar 16, 20268-K Regulation FD disclosure40
  8. Mar 9, 20268-K Entered a material agreement41
  9. Mar 9, 20268-K Regulation FD disclosure42
  10. Mar 6, 20268-K Executive or director change43
  11. Jan 14, 20268-K Regulation FD disclosure44
  12. Dec 16, 20258-K Regulation FD disclosure45
  13. Jul 14, 2025New chief executive Martin Edward Patterson becomes CEO18
  14. Oct 29, 2014New chief executive Greg Maffei becomes CEO19

Calendar

When it reported results

  1. May 7, 2025Reported quarterly or annual results46
  2. Feb 28, 2025Reported quarterly or annual results47
  3. Nov 7, 2024Reported quarterly or annual results48
  4. Aug 8, 2024Reported quarterly or annual results49
  5. May 8, 2024Reported quarterly or annual results50
  6. Feb 16, 2024Reported quarterly or annual results51
  7. Nov 3, 2023Reported quarterly or annual results52
  8. Aug 4, 2023Reported quarterly or annual results53

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

349 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 105 major events, 109 insider forms, 61 large holders, 54 other. The latest 20:

  1. Aug 31, 202615-12G EDGAR
  2. Aug 21, 2026S-8 POS EDGAR
  3. Aug 21, 2026S-8 POS EDGAR
  4. Aug 21, 2026S-8 POS EDGAR
  5. Aug 21, 2026S-8 POS EDGAR
  6. Aug 21, 2026S-8 POS EDGAR
  7. Aug 21, 2026S-8 POS EDGAR
  8. Aug 21, 2026POSASR EDGAR
  9. Aug 21, 20268-K EDGAR
  10. Aug 20, 20264 EDGAR
  11. Aug 20, 20264 EDGAR
  12. Aug 20, 20264 EDGAR
  13. Aug 20, 20264 EDGAR
  14. Aug 20, 20264 EDGAR
  15. Aug 20, 20264 EDGAR
  16. Aug 20, 20264 EDGAR
  17. Aug 20, 20264 EDGAR
  18. Aug 20, 20264 EDGAR
  19. Aug 20, 2026SCHEDULE 13D/A EDGAR
  20. Aug 20, 2026SCHEDULE 13D/A EDGAR

The 349 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

29 open-market trades by officers, directors and large owners since October 2021: 5 buys and 24 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 15, 2026Wilm Renee LChief Legal/Admin OfficerSale239$33.32$8.0KForm 4
Feb 18, 2026WARGO J DAVIDDirectorSale25,000$55.49$1.4MForm 4
Feb 10, 2026WARGO J DAVIDDirectorSale46,682$57.31$2.7MForm 4
Dec 5, 2025WARGO J DAVIDDirectorSale2,889$47.10$136.1KForm 4
Dec 19, 2024MAFFEI GREGORY BPresident/CEOSale36,733$77.47$2.8MForm 4
Dec 18, 2024MAFFEI GREGORY BPresident/CEOSale125,000$79.74$10.0MForm 4
Dec 17, 2024MAFFEI GREGORY BPresident/CEOSale119,990$80.61$9.7MForm 4
Dec 16, 2024MAFFEI GREGORY BPresident/CEOSale71,500$82.00$5.9MForm 4
Nov 21, 2024Wendling Brian JCAO/PFOSale42$85.91$3.6KForm 4
Sep 26, 2024Wendling Brian JCAO/PFOSale2,208$75.84$167.5KForm 4
Sep 25, 2024Wilm Renee LChief Legal/Admin OfficerSale4,423$76.56$338.6KForm 4
Apr 8, 2024WARGO J DAVIDDirectorSale15,000$51.98$779.8KForm 4
Apr 5, 2024WARGO J DAVIDDirectorSale10,000$51.43$514.3KForm 4
Mar 7, 2024WARGO J DAVIDDirectorSale9,000$56.80$511.2KForm 4
Mar 5, 2024WARGO J DAVIDDirectorSale11,000$57.33$630.6KForm 4
Nov 17, 2023Green Richard RDirectorSale4,152$83.53$346.8KForm 4
Nov 15, 2023WELSH JOHN E IIIDirectorSale4,152$83.74$347.7KForm 4
Aug 16, 2023MAFFEI GREGORY BPresident/CEOSale1,135$92.02$104.4KForm 4
May 11, 2023Wendling Brian JCAO/PFOSale6,419$77.59$498.1KForm 4
Feb 2, 2023Wendling Brian JCAO/PFOSale3,210$95.00$304.9KForm 4

All 29 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

Liberty Broadband Corp has told the SEC it owns more than 5% of 2 companies, latest first (Schedules 13D and 13G).

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Martin E. PattersonPresident and Chief Executive Officer$166.1K$1.2M73
2025Renee L. WilmChief Legal Officer and Chief Administrative Officer$1.2M$1.2M73
2025Brian J. WendlingPrincipal Financial Officer and Chief Accounting Officer$625.9K$625.9K73
2024Renee L. WilmChief Legal Officer and Chief Administrative Officer$1.2M$2.1M73
2024Brian J. WendlingPrincipal Financial Officer and Chief Accounting Officer$625.9K$1.1M73
2023Renee L. WilmChief Legal Officer and Chief Administrative Officer$889.7K$3.6M73
2023Brian J. WendlingPrincipal Financial Officer and Chief Accounting Officer$467.5K$1.9M73

Members of Congress who traded it

10 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Nov 14, 2022John W. HickenlooperDemocratic, SenateBuy$15,001 - $50,000−155.0%Report
Nov 14, 2022John W. HickenlooperDemocratic, SenatePartial sale$50,001 - $100,000+155.0%Report
Sep 8, 2022Cindy Axne, HouseSale$1,001 - $15,000+155.0%Report
Sep 8, 2022Cindy Axne, HouseSale$1,001 - $15,000+155.0%Report
Sep 8, 2022Cindy Axne, HouseSale$1,001 - $15,000+155.0%Report
Aug 12, 2022Cindy Axne, HousePartial sale$1,001 - $15,000+150.4%Report
May 13, 2022John W. HickenlooperDemocratic, SenateBuy$1,001 - $15,000−160.2%Report
May 13, 2022John W. HickenlooperDemocratic, SenatePartial sale$15,001 - $50,000+160.2%Report
Jan 13, 2022Cindy Axne, HouseBuy$1,001 - $15,000−142.0%Report
Jun 5, 2020Susie LeeDemocratic, HouseSale$1,001 - $15,000+214.4%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Liberty Broadband Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLiberty Broadband Corp2
  • CIK0001611983
  • Employer ID (EIN)47-12119947
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company7
  • Incorporated inDelaware7
  • Fiscal year endsDecember 312
  • Industry code (SIC)4841 Cable & Other Pay Television Services2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address12300 Liberty Blvd, Englewood, CO 801122
  • Phone720-875-54002
  • Shares outstanding18,254,690 Common Class A shares; 386,988 Common Class B shares; 124,856,052 Common Class C shares as of Jan 31, 20267
  • Public float$12.2B as of Jun 30, 20257
  • AuditorKPMG LLP, Denver, CO PCAOB ID 185; it also attests to the company’s internal control over financial reporting7
  • On EDGAR sinceJul 24, 20142
  • Filings905 in all: 4 (328), 8-K (218), SC 13G/A (58), 10-Q (36), SC 13D/A (25), 425 (24), 3 (21), SC 13G (19)2
    All 51 form types

    144 (16), SCHEDULE 13G/A (14), CORRESP (13), DEF 14A (13), 10-K (12), SCHEDULE 13D/A (11), S-8 POS (8), SCHEDULE 13G (8), UPLOAD (8), ARS (6), S-1/A (6), S-8 (6), 11-K (5), SC 13D (5), 8-A12B (3), EFFECT (3), S-3ASR (3), SC 13E3/A (3), 25-NSE (2), 4/A (2), 8-K/A (2), CERTNAS (2), POS EX (2), PRER14A (2), S-1 (2), S-4/A (2), 15-12G (1), 15-15D (1), 3/A (1), 424B1 (1), 424B3 (1), CERT (1), DEFA14A (1), DEFM14A (1), DEFR14A (1), POS462B (1), POSASR (1), PRE 14A (1), PREM14A (1), PX14A6G (1), S-4 (1), S-4MEF (1), SC 13E3 (1)

  • Latest filingsAnnual report (10-K) Feb 5, 2026
    Quarterly report (10-Q) Jul 29, 2026
    Proxy statement (DEF 14A) Mar 26, 2026
    Latest 8-K (8-K) Aug 21, 2026

Securities registered for trading

ClassSymbolExchange
Series A common stockLBRDAThe Nasdaq Stock Market LLC
Series C common stockLBRDKThe Nasdaq Stock Market LLC
Series A Cumulative Redeemable preferred stockLBRDPThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Feb 5, 2026 (Section 12(b) of the Exchange Act).7

Risk factors and legal proceedings

The risks Liberty Broadband Corp names in Item 1A of its 10-K filed Feb 5, 2026: 49 risks under these headings, as written.7

  • Factors Relating to Our Corporate History and Structure
  • Factors Related to Our and Our Subsidiaries’ Indebtedness
  • Factors Relating to Charter
  • Factors Relating to our Common Stock and the Securities Market
  • Factors Relating to the Proposed Transactions
  • We are a holding company, and we could be unable to obtain cash in amounts sufficient to service our financial obligations or meet our other commitments.
  • Other than cash generated from our participation in Charter’s stock repurchase program or cash loaned to us by Charter, in each case, pursuant to the Stockholders and Letter Agreement Amendment, we do not have access to the cash that Charter generates from its operating activities, and we are subject to Charter’s ability to provide such liquidity under the terms of the Merger Agreement.
  • We rely on Charter to provide us with the financial information that we use in accounting for our ownership interest in Charter as well as information regarding Charter that we include in our public filings.
  • We may become subject to the Investment Company Act.
  • Our company has overlapping directors and officers with Liberty, GCI Liberty and Liberty Live, which may lead to conflicting interests.
  • Certain of our inter-company agreements were negotiated while we were a subsidiary of Liberty.
  • Our ability to use net operating loss and disallowed business interest carryforwards to reduce future tax payments could be negatively impacted if there is an “ownership change” as defined under Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”), of our company.
The other 39 risks
  • Cyberattacks or other network disruptions could have an adverse effect on our company.
  • Our company may have future capital needs and may not be able to obtain additional financing, or refinance or renew our existing indebtedness, on acceptable terms. Further, our and our subsidiaries’ ability to service our respective debt and any other obligations will require access to funds, which may be restricted.
  • We and our subsidiaries have significant indebtedness, which could adversely affect our business and financial condition.
  • The agreements that govern our and our subsidiaries’ current and future indebtedness may contain various affirmative and restrictive covenants that will limit our discretion in the operation of our business.
  • Variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
  • Charter operates in a very competitive business environment, which affects its ability to attract and retain customers and can adversely affect its business, operations and financial results.
  • Various events could disrupt or result in unauthorized access to Charter’s networks, information systems or properties and could impair its operating activities and negatively impact Charter’s reputation and financial results.
  • Charter depends on third-party service providers, suppliers and licensors; thus, if it is unable to procure the necessary services, equipment, software or licenses on reasonable terms and on a timely basis, its ability to offer services could be impaired, and Charter’s growth, operations, business, financial results and financial condition could be materially adversely affected.
  • Any failure to respond to technological developments and meet customer demand for new products and services could adversely affect its ability to compete effectively.
  • Charter’s business may be adversely affected if Charter cannot continue to license or enforce the intellectual property rights on which its business depends.
  • Charter may not have the ability to pass on to its customers all of the increases in programming costs, which could adversely affect its cash flow and operating margins.
  • Issues related to the development and use of AI could give rise to legal or regulatory action, damage Charter’s reputation or otherwise materially harm its business.
  • Charter’s exposure to the economic conditions of its current and potential customers, vendors and third parties could adversely affect its cash flow, results of operations and financial condition.
  • If Charter is unable to retain key employees, its ability to manage its business could be adversely affected.
  • Charter has a significant amount of debt and expects to incur significant additional debt, including secured debt, in the future, as well as additional debt in connection with the Cox Transactions and the Combination, which could adversely affect its financial condition and its ability to react to changes in its business.
  • The agreements and instruments governing Charter’s debt contain restrictions and limitations that could significantly affect its ability to operate its business, as well as significantly affect its liquidity.
  • Charter’s business is subject to extensive governmental legislation and regulation, which could adversely affect its business.
  • Changes to the existing legal and regulatory framework under which Charter operates or the regulatory programs in which Charter or its competitors participate could adversely affect Charter’s business.
  • Tax legislation and administrative initiatives or challenges to Charter’s tax and fee positions could adversely affect its results of operations and financial condition.
  • Charter’s cable system franchises are subject to non-renewal or termination and are non-exclusive. The failure to renew a franchise or the grant of additional franchises in one or more service areas could adversely affect its business.
  • The Cox Transactions are subject to conditions, some or all of which may not be satisfied, or completed on a timely basis, if at all. Failure to complete the Cox Transactions could have a material adverse effect on Charter.
  • Charter’s plans for funding the cash consideration and assuming indebtedness of Cox Communications may be adversely affected to the extent there are greater-than-expected increases in Charter’s indebtedness, lower-than-expected operating results, credit rating downgrades, or significant financial market disruptions.
  • Charter and Cox Communications are subject to contractual restrictions while the Cox Transactions are pending, which could adversely affect their respective businesses and operations.
  • Charter will incur direct and indirect costs as a result of the Cox Transactions.
  • If Charter is not able to successfully integrate Cox Communications’ business within the anticipated time frame, or at all, the anticipated cost savings and other benefits of the Cox Transactions may not be realized fully, or at all, or may take longer to
  • realize than expected. In such circumstances, in the event the Cox Transactions are completed, Charter may not perform as expected and the value of the Charter Class A common stock may be adversely affected.
  • The market price of Charter Class A common stock may decline as a result of the Cox Transactions.
  • The Cox Transactions raise other risks.
  • We expect our stock price to continue to be directly affected by the results of operations of Charter and developments in its business.
  • Although our Series B common stock is quoted on the OTC Markets, there is no meaningful trading market for the stock.
  • It may be difficult for a third party to acquire us, even if doing so may be beneficial to our stockholders.
  • Holders of a single series of our common stock may not have any remedies if an action by our directors has an adverse effect on only that series of our common stock.
  • Liberty Broadband common stock transactions by our insiders could depress the market price of those stocks.
  • If the treatment of the Combination as a “reorganization” within the meaning of Section 368(a) of the Code is challenged by the IRS or the IRS disagrees with the intended tax treatment of any proceeds we receive from the repurchase of Charter shares or certain loans we receive from Charter, the Combination may result in additional tax liability for us or our stockholders.
  • We expect to incur costs and expenses in connection with the Transactions.
  • The announcement and pendency of the Transactions could divert the attention of management and cause disruptions in our business and the business of Charter, which could have an adverse effect on our and Charter’s business and financial results.
  • We are subject to contractual restrictions while the Transactions are pending, which could adversely affect our business.
  • The Transactions are subject to conditions, some or all of which may not be satisfied, or completed on a timely basis, if at all. Failure to complete the Transactions could negatively impact our business and/or financial results and cause the stock price of our common stock to decline, perhaps significantly.
  • The Merger Agreement contains provisions that limit our ability to pursue alternatives to the Combination, could discourage a potential acquiror from making a favorable alternative transaction proposal and, in specified circumstances, could require us to pay a substantial termination fee to Charter.

Legal proceedings

Charter Proceedings

The California Attorney General and the Alameda County, California District Attorney are investigating whether certain of Charter’s waste disposal policies, procedures and practices are in violation of the California Business and Professions Code and the California Health and Safety Code. That investigation was commenced in January 2014. A similar investigation involving Time Warner Cable, LLC was initiated in February 2012. Charter is cooperating with these investigations. While Charter is unable to predict the outcome of these investigations, it does not expect that the outcome will have a material effect on its operations, financial condition, or cash flows.

Charter is a defendant or co-defendant in several lawsuits involving alleged infringement of various intellectual property relating to various aspects of its businesses. Other industry participants are also defendants in certain of these cases or related cases. In the event that a court ultimately determines that Charter infringes on any intellectual property, Charter may be subject to substantial damages and/or an injunction that could require Charter or its vendors to modify certain products and services it offers to its subscribers, as well as negotiate royalty or license agreements with respect to the intellectual property at issue. While Charter believes the lawsuits are without merit and intends to defend the actions vigorously, no assurance can be given that any adverse outcome would not be material to Charter’s operations, consolidated financial condition, results of operations, or liquidity. Charter cannot predict the outcome of any such claims nor can it reasonably estimate a range of possible loss.

The opening of Item 3, Legal Proceedings.7

Sources

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  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73