Business
Liberty Broadband Reports First Quarter 2025 Financial Results
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Liberty Broadband Corporation (“Liberty Broadband”) (Nasdaq: LBRDA, LBRDK, LBRDP) today reported first quarter 2025
About this update from Liberty Broadband Corporation
[{"type":"text","content":" ENGLEWOOD, Colo.--(BUSINESS WIRE)--\nLiberty Broadband Corporation (“Liberty Broadband”) (Nasdaq: LBRDA, LBRDK, LBRDP) today reported first quarter 2025 results.\n\nHeadlines include(1):\n\n\nFrom February 1, 2025 through April 30, 2025, Liberty Broadband received $300 million of proceeds from sale of 830 thousand Charter shares to Charter\n\n\nLiberty Broadband issued a redemption notice for $860 million principal amount of its 3.125% exchangeable senior debentures due 2054 and expects to cash settle all exchanged debentures by May 2025\n\n\nFair value of Charter investment was $16.4 billion as of March 31st\n\n\nLiberty Broadband on track to complete spin off of GCI business in the summer of 2025\n\n\nIn the first quarter, GCI(2) increased revenue 9% to $266 million, generated operating income of $56 million and grew Adjusted OIBDA(3) 23% to $111 million\n\n\nGCI refinanced its credit facility, extending the maturity profile and raising a $450 million revolver and $300 million Term Loan A at attractive rates\n\n\nCorporate Updates\n\nOn November 12, 2024, Liberty Broadband entered into a definitive agreement to be acquired by Charter. Holders of Liberty Broadband common stock will receive 0.236 of a share of Charter common stock per share of Liberty Broadband common stock held.\n\nIn each month until the completion of the proposed combination of Charter and Liberty Broadband, Charter will repurchase $100 million of its Class A common stock from Liberty Broadband, subject to certain conditions and timing adjustments, and, if necessary, will repurchase a greater amount or provide loans to Liberty Broadband, with such proceeds to be used by Liberty Broadband to satisfy certain of its debt obligations, provided that Charter’s share repurchases do not reduce Liberty Broadband’s ownership below 25.25%.\n\nFrom February 1, 2025 through April 30, 2025, Liberty Broadband sold 830 thousand shares of Charter Class A common stock to Charter for total proceeds of $300 million. Such proceeds are to be used for debt service at Liberty Broadband within six months of receipt.\n\nBalance Sheet\n\nThe following presentation is provided to separately identify cash and liquid investments, debt and public holdings of Liberty Broadband as of December 31, 2024 and March 31, 2025.\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n...