NEW YORK , Nov. 13, 2024 /PRNewswire/ -- Nationally recognized shareholder rights firm Julie & Holleman LLP is investigating the proposed merger of Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK, LBRDP) and Charter Communications, Inc. (NASDAQ: CHTR) for potential breaches of fiduciary duty related to conflicts of interest.
For a free, no-risk consultation, please visit https://julieholleman.com/liberty-broadband-corp/ , or contact firm partner Scott Holleman by email at [email protected] or by telephone at (929) 415-1020.
Charter Communications and Liberty Broadband are leading U.S. communications providers.
On November 13, 2024 , the companies announced that Charter would acquire Liberty through an all-stock transaction. Under the merger agreement, Liberty shareholders will receive 0.236 newly issued Charter for each of their Liberty shares.
In addition, Charter will spin-off one of Liberty's current assets, Alaskan communications provider GCI, LLC, to Liberty's current shareholders. Julie & Holleman is concerned about conflicts of interest. Liberty's controlling shareholder is cable TV mogul John C.
Malone , who has been involved with numerous other mergers that have received intense scrutiny. Liberty, in turn, is Charter's largest shareholder, meaning that Malone has significant influence over both companies. Moreover, Charter's second largest shareholder is private American media company Advance/Newhouse Partnership, with which Malone has had numerous business.
