Latest news with #JohnMalone
The Star
6 days ago
- Business
- The Star
Cox agrees to merge with Charter for US$35bil
New York: Charter Communications Inc has agreed to combine with closely held Cox Communications in a cash-and-stock deal that would unite two of the biggest US cable providers. The takeover values Cox at about US$34.5bil including debt, the companies said in a statement last Friday, confirming an earlier Bloomberg News report. The deal includes about US$12.6bil of net debt and US$21.9bil in equity, the companies said. The combined company would be the top broadband operator in the United States, and increase Charter's subscriber base by more than 20%, according to Bloomberg Intelligence analyst Geetha Ranganathan. It also comes at a time when cable companies are facing increasing competition. Wireless providers, such as AT&T Inc and T-Mobile US Inc, are luring away broadband customers with their own Internet offerings. At the same time, streaming companies such as Netflix Inc have upended the traditional business of pay-TV. The Cox family will be the largest shareholder in the combined company, with a stake of about 23%, and will have seats on the board. Within a year of closing, the combined company will also change its name to Cox Communications. Charter shares have risen about 24% this year, giving the company a market value of roughly US$66bil. Billionaire John Malone – chairman of Liberty Broadband, Charter's largest shareholder – fuelled merger expectations when he said that the company should be allowed to merge with a media or telecom rival to stay competitive. Speaking at Liberty Media's investor day in New York last November, he named Cox among a number of possible merger candidates. Charter and Cox previously discussed a potential deal more than a decade ago. 'This combination will augment our ability to innovate and provide high-quality, competitively priced products, delivered with outstanding customer service, to millions of homes and businesses,' Chris Winfrey, president and chief executive of Charter, said in the statement. Malone's Liberty Broadband will cease its direct shareholding after the deal closes, and its directors will resign from the board. Cable companies like Charter, the largest pay-TV provider, rely on three main lines of business for their revenue: video service, Internet access and wireless phone service. Subscribers to two of those businesses, video and broadband, are shrinking. Cable providers have been selling their own mobile phone plans by leasing network access from major carriers. At the same time, phone carriers have been poaching home Internet subscribers from cable companies. The bet is that customers will in the future prefer to buy their Internet and mobile phone services from the same provider – a trend referred to as convergence. A combination of Charter and Cox would position them to better compete in that environment by allowing them to bundle offerings and more efficiently invest in infrastructure. 'Charter is aggressively marketing its converged mobile fixed bundles at competitive rates to improve subscriber acquisition and retention,' according to Bloomberg Intelligence analysts. 'Regardless, the entire cable sector is being hurt by intensifying telecom competition from both fibre coverage and fixed wireless access.' For Cox, which has been viewed as a perennial takeover target, a tie-up with Charter would end more than 70 years of outright ownership by the Cox family. Cox Communications is the main division of Cox Enterprises, a conglomerate founded around the time of the Spanish-American War more than a century ago. The Cox family entered the cable business in the 1960s and has grown Cox Communications into the largest private broadband company in America, offering Internet to almost seven million customers. The company's systems and regional footprint are expected to complement those of Charter, increasing the chances of a deal passing muster with regulators. Even so, the deal could be a litmus test for US antitrust scrutiny under President Donald Trump's new administration. Operating under the Spectrum brand, Charter is the top cable TV company and the second-biggest broadband provider in the United States, according to data from Bloomberg Intelligence. It had more than 12 million video subscribers and about 30 million Internet customers as of the end of March, earnings show. Last year, Charter agreed to buy Liberty Broadband Corp in an all-stock transaction. That deal consolidated two public companies in which cable billionaire Malone held significant interests. Malone remains chairman of Liberty Broadband. — Bloomberg
Business Wire
27-05-2025
- Business
- Business Wire
Liberty Broadband Corporation Announces GCI Liberty Investor Conference Call
ENGLEWOOD, Colo.--(BUSINESS WIRE)--Liberty Broadband Corporation ('Liberty Broadband') (Nasdaq: LBRDA, LBRDK, LBRDP) announced that, in connection with the planned spin-off of its GCI business to a new entity called GCI Liberty, Inc. ('GCI Liberty'), Liberty Broadband will webcast an Investor Conference Call on Tuesday, June 3, 2025, relating to the GCI business with GCI management remarks beginning at 2:00 p.m. ET. Following prepared remarks, the company will host a Q&A session with Ron Duncan, who will serve as President and CEO of GCI Liberty, and John Malone, who will serve as Chairman of the Board of GCI Liberty. During the event, observations may be made regarding the financial performance and outlook of GCI Liberty and Liberty Broadband, as well as other forward looking matters. The spin-off of GCI Liberty is expected to occur in summer 2025. Stockholders will be able to submit questions in advance of the Q&A session. To submit a question, please email investor@ with the subject 'GCI Liberty Investor Question' by 5:00 p.m. ET on Friday, May 30, 2025. The event will be broadcast live via the Internet. All interested persons should visit the Liberty Broadband Corporation website at to register for the webcast. An archive of the webcast will also be available on the Liberty Broadband website after appropriate filings have been made with the SEC. About Liberty Broadband Corporation Liberty Broadband Corporation (Nasdaq: LBRDA, LBRDK, LBRDP) operates and owns interests in a broad range of communications businesses. Liberty Broadband's principal assets consist of its interest in Charter Communications and its subsidiary GCI. GCI provides data, mobile, voice and managed services to consumer, business, government and carrier customers throughout Alaska, serving more than 200 communities. The company has invested $4.7 billion in its Alaska network and facilities over the past 45 years. Through a combination of ambitious network initiatives, GCI continues to expand and strengthen its statewide network infrastructure to deliver the best possible connectivity to its customers and close the digital divide in Alaska. Cautionary Note Regarding Forward-Looking Statements This communication includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including certain statements relating to the transaction described herein, including the proposed timing thereof. All statements other than statements of historical fact are 'forward-looking statements' for purposes of federal and state securities laws. These forward-looking statements generally can be identified by phrases such as 'possible,' 'potential,' 'intends' or 'expects' or other words or phrases of similar import or future or conditional verbs such as 'will,' 'may,' 'might,' 'should,' 'would,' 'could,' or similar variations. These forward-looking statements involve many risks and uncertainties that could cause actual results and the timing of events to differ materially from those expressed or implied by such statements, including, without limitation, the satisfaction of conditions to the transactions. These forward-looking statements speak only as of the date of this communication, 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 and GCI Liberty, including the registration statement relating to the spin-off of GCI Liberty, and Liberty Broadband's most recent Forms 10-K and 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports Liberty Broadband or GCI Liberty subsequently files with the SEC, for additional information about Liberty Broadband, GCI Liberty and about the risks and uncertainties related to Liberty Broadband's and GCI Liberty's businesses that may affect the statements made in this communication.
Yahoo
27-05-2025
- Business
- Yahoo
Liberty Broadband Corporation Announces GCI Liberty Investor Conference Call
ENGLEWOOD, Colo., May 27, 2025--(BUSINESS WIRE)--Liberty Broadband Corporation ("Liberty Broadband") (Nasdaq: LBRDA, LBRDK, LBRDP) announced that, in connection with the planned spin-off of its GCI business to a new entity called GCI Liberty, Inc. ("GCI Liberty"), Liberty Broadband will webcast an Investor Conference Call on Tuesday, June 3, 2025, relating to the GCI business with GCI management remarks beginning at 2:00 p.m. ET. Following prepared remarks, the company will host a Q&A session with Ron Duncan, who will serve as President and CEO of GCI Liberty, and John Malone, who will serve as Chairman of the Board of GCI Liberty. During the event, observations may be made regarding the financial performance and outlook of GCI Liberty and Liberty Broadband, as well as other forward looking matters. The spin-off of GCI Liberty is expected to occur in summer 2025. Stockholders will be able to submit questions in advance of the Q&A session. To submit a question, please email investor@ with the subject "GCI Liberty Investor Question" by 5:00 p.m. ET on Friday, May 30, 2025. The event will be broadcast live via the Internet. All interested persons should visit the Liberty Broadband Corporation website at to register for the webcast. An archive of the webcast will also be available on the Liberty Broadband website after appropriate filings have been made with the SEC. About Liberty Broadband Corporation Liberty Broadband Corporation (Nasdaq: LBRDA, LBRDK, LBRDP) operates and owns interests in a broad range of communications businesses. Liberty Broadband's principal assets consist of its interest in Charter Communications and its subsidiary GCI. GCI provides data, mobile, voice and managed services to consumer, business, government and carrier customers throughout Alaska, serving more than 200 communities. The company has invested $4.7 billion in its Alaska network and facilities over the past 45 years. Through a combination of ambitious network initiatives, GCI continues to expand and strengthen its statewide network infrastructure to deliver the best possible connectivity to its customers and close the digital divide in Alaska. Cautionary Note Regarding Forward-Looking Statements This communication includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including certain statements relating to the transaction described herein, including the proposed timing thereof. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws. These forward-looking statements generally can be identified by phrases such as "possible," "potential," "intends" or "expects" or other words or phrases of similar import or future or conditional verbs such as "will," "may," "might," "should," "would," "could," or similar variations. These forward-looking statements involve many risks and uncertainties that could cause actual results and the timing of events to differ materially from those expressed or implied by such statements, including, without limitation, the satisfaction of conditions to the transactions. These forward-looking statements speak only as of the date of this communication, 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 and GCI Liberty, including the registration statement relating to the spin-off of GCI Liberty, and Liberty Broadband's most recent Forms 10-K and 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports Liberty Broadband or GCI Liberty subsequently files with the SEC, for additional information about Liberty Broadband, GCI Liberty and about the risks and uncertainties related to Liberty Broadband's and GCI Liberty's businesses that may affect the statements made in this communication. View source version on Contacts Liberty Broadband Corporation Shane Kleinstein, 720-875-5432 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Should You Forget SiriusXM Holdings? This Stock Has Made Far More Millionaires.
SiriusXM has attracted some deep-pocketed backers, but the stock has continued to be a laggard. Another audio streaming stock, Spotify, is grabbing market share in the industry. As Spotify grows, its operating margin should continue to expand. 10 stocks we like better than Spotify Technology › SiriusXM Holdings (NASDAQ: SIRI) has attracted some big backers over its history, including Liberty Media's John Malone and Berkshire Hathaway's Warren Buffett. In some ways, it's easy to see why. SiriusXM has a monopoly in satellite radio, and its subscription business model could be highly profitable scale. However, one or two elements of a competitive advantage aren't the same thing as a complete one, especially as there are clear weaknesses to SiriusXM's business. First, SiriusXM has struggled to grow its subscriber base for years. Usage of the satellite radio network primarily takes place in the car, and as audio technology has improved, it's become easier to stream music and podcasts through smartphones and in-car infotainment systems. As a result, SiriusXM has continued to underperform. Over the last year, the stock is down 20%, and it's down 59% over the last five years. While SiriusXM may look like a value stock to some -- it offers an attractive dividend yield at 4.9% -- its growth has gone flat. In the first quarter, revenue declined 4% to $2.07 billion as subscribers declined by 303,000 to 33 million. On the bottom line, SiriusXM also continues to shrink. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 3% to $629 million and generally accepted accounting principles (GAAP) earnings per share fell from $0.63 to $0.59. Given what seems like an inexorable decline in SiriusXM as alternative options continue to get better, there's another stock that's worth buying instead, and it's arguably SiriusXM's biggest rival: Spotify (NYSE: SPOT). While SiriusXM has struggled in recent years, Spotify shares have soared, up 500% over the last three years as its subscriber base has grown, its podcast strategy has paid off, and its business model has gained operating leverage. In the first quarter, monthly active users jumped 10% to 678 million with premium subscribers, the vast majority of its business up 12% to 268 million. Revenue from premium subscribers was up 16% to 3.77 billion euros, driving overall revenue up 15% to 4.19 billion euros, but what's been most impressive about Spotify's recent growth is the leverage it's gained. Operating income tripled to 503 million euros. Spotify has become the preeminent global platform for audio streaming as it long ago left Pandora, SiriusXM, and other competitors in the dust, and it now appears to be following a similar path to Netflix as margins expand rapidly as revenue grows. Spotify is also improving its ad product with new partnerships with demand-side platforms to automate ads, and introduced a new feature called Concerts Near You, helping users learn about nearby concerts based on their playlists. At a market cap of $134 billion, Spotify has almost certainly made more millionaires than SiriusXM, which has a market cap of $7.4 billion. However, strong business growth alone doesn't make a stock a buy. You also have to consider valuation, and Spotify does trade at a premium with a trailing price-to-earnings ratio above 100. Its margins are expanding rapidly, and if it can continue to grow its premium subscriber base, its margins should continue to expand as well. Netflix may offer the best comparison for Spotify as their business models are similar. Netflix's operating margin has expanded over the years as its subscriber base has grown, and it's now reached 31.7% in the first quarter. The company is targeting 33.3% in the second quarter, and for the full year, it sees an operating margin of 29%. Spotify's operating margin, meanwhile, rose to 12% in the first quarter, meaning there should still be a lot of upside potential for the operating margin to expand. Considering the company's steady growth, industry leadership, and profit potential, Spotify looks like an attractive buy. It's likely to continue taking market share from SiriusXM. Before you buy stock in Spotify Technology, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Spotify Technology wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway and Spotify Technology. The Motley Fool has a disclosure policy. Should You Forget SiriusXM Holdings? This Stock Has Made Far More Millionaires. was originally published by The Motley Fool Sign in to access your portfolio
Bloomberg
16-05-2025
- Business
- Bloomberg
Malone to Cede Control of US Cable-TV Empire to Cox Family
John Malone, the billionaire cable-TV mogul, has a new memoir coming out this fall. On Friday, he added one more chapter. Charter Communications Inc., the largest cable provider in the US, which Malone controls through Liberty Broadband Corp., agreed to merge with Cox Communications Inc. in a deal valued at $34.5 billion. Charter is in the process of combining with Liberty Broadband as well.
