Liberty Broadband, GCI Liberty Propose Combination

Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK) and GCI Liberty, Inc. (NASDAQ: GLIBA, GLIBP) have announced that they have entered into a definitive merger agreement under which Liberty Broadband has agreed to acquire GCI Liberty in a stock-for-stock merger (the “Combination”), the companies said.

Liberty Broadband´s businesses consist of its interest in Charter Communications, Inc. (“Charter”) and its subsidiary Skyhook. Liberty Broadband also has announced that its Board of Directors increased its repurchase authorization by USD 1 billion, bringing total authorization to USD 1.2 billion.

GCI Liberty´s principal assets consist of its subsidiary GCI Holdings, LLC and non-controlling interests in Liberty Broadband, Charter Communications, Inc., and LendingTree, Inc.

Liberty Broadband and GCI Liberty believe the Combination will provide the following benefits to all shareholders:

Generate savings on public company and overhead costs
Simplify administrative and management complexity
Aim to reduce trading discounts to underlying equities
Improve flexibility for future strategic combinations

Liberty Broadband´s businesses consist of its interest in Charter Communications and its subsidiary Skyhook.

GCI Liberty operates and owns interests in a broad range of communications businesses.