Charter to Buy Liberty Broadband in All-Stock Transaction

Charter Communications Inc. agreed to buy Liberty Broadband Corp. in an all-stock transaction.

Under terms of the deal announced Wednesday, Liberty investors will receive 0.236 of a share of Charter common stock per share of Liberty, with cash to be issued instead of fractional shares.

Charter plans to retire the approximately 45.6 million Charter shares currently owned by Liberty Broadband and to issue approximately 34 million shares to holders of Liberty Broadband common stock at the closing.

A merger would consolidate two public companies in which cable billionaire John Malone holds significant interests. He holds a 49% voting ...