Liberty Broadband Stock Price, News & Analysis

Liberty Broadband Corporation (Nasdaq: LBRDA, LBRDK, LBRDP) is an information sector company involved in cable and other subscription programming and broader telecommunications activities in the United States. According to its public disclosures, Liberty Broadband operates and owns interests in a range of communications businesses, with its principal assets consisting of an equity interest in Charter Communications, Inc. and ownership of GCI Holdings, LLC (“GCI”).

Liberty Broadband is associated with the telecommunications and cable services industry. Polygon data describes Liberty Broadband as serving in the telecommunications industry in the United States and providing cable services to residential and commercial customers through fiber, hybrid fiber and coaxial cable infrastructure. It notes that the company’s activities include residential services such as video, internet, voice and mobile services, as well as commercial services that encompass offerings for small and medium businesses and enterprise solutions, advertising services and other services. Polygon also identifies GCI Holdings and Charter as reportable segments and indicates that a significant portion of Liberty Broadband’s revenue is derived from GCI Holdings.

Recent company communications further emphasize that Liberty Broadband’s principal operating asset is GCI Holdings, which is described as Alaska’s largest communications provider. GCI provides data, mobile, video, voice and managed services to consumer, business, government and carrier customers throughout Alaska, serving more than 200 communities. Public statements highlight that GCI has invested substantial amounts in its Alaska network and facilities over multiple decades and continues to expand and strengthen its statewide network infrastructure with the goal of improving connectivity and addressing the digital divide in Alaska.

Liberty Broadband’s ownership interest in Charter Communications is also a core asset. Company materials refer to the fair value of this Charter investment and discuss transactions in Charter Class A common stock between Liberty Broadband and Charter. These activities, together with Liberty Broadband’s debt and preferred stock structure, form part of the company’s broader capital and investment profile as a communications-focused holding company.

Liberty Broadband’s capital structure includes Series A Cumulative Redeemable Preferred Stock (trading under Nasdaq: LBRDP). The Board of Directors has repeatedly declared regular quarterly cash dividends on this preferred stock, with announcements specifying per-share dividend amounts, record dates and payment dates. Company disclosures also describe key terms of the preferred stock, including its coupon rate, liquidation preference, voting rights and redemption date, and note that the preferred stock is treated as a liability for GAAP purposes.

Within its GCI Holdings operations, Liberty Broadband reports financial metrics such as revenue, operating income and Adjusted OIBDA. Publicly released information describes GCI’s revenue composition across consumer and business segments, including data and wireless revenue streams. GCI’s capital expenditure program is focused on improvements to wireless and data networks, particularly in rural Alaska, and on middle- and last-mile connectivity projects. These projects are linked to network expansion in important rural markets and to fulfilling build-out requirements under regulatory frameworks such as the Alaska Plan.

Liberty Broadband has also communicated plans and actions related to corporate transactions. It entered into a definitive agreement to be acquired by Charter Communications, Inc., under which holders of Liberty Broadband common stock are to receive a specified fraction of a share of Charter common stock per Liberty Broadband share. In addition, Liberty Broadband has announced a planned spin-off of its GCI business into a separate entity called GCI Liberty, Inc. (“GCI Liberty”). Company releases outline the intended structure of this spin-off, including the distribution of GCI Liberty common stock to Liberty Broadband stockholders, the record and distribution dates, and the expected listing of GCI Liberty’s various share classes on Nasdaq and the OTC Markets.

In connection with the spin-off, Liberty Broadband has provided detailed information about when-issued trading, ex-dividend dates and trading symbols for GCI Liberty’s Series A, B and C common stock. It has also stated that, immediately following the spin-off, GCI Liberty is expected to be an independent publicly traded company whose businesses, assets and liabilities will initially consist of all outstanding equity interests in GCI and its subsidiaries. Liberty Broadband has noted that its own common stock will continue to trade under existing symbols unless and until the proposed acquisition by Charter is completed.

Liberty Broadband regularly reports its consolidated financial metrics, including cash and restricted cash balances at GCI Holdings and at the corporate level, the fair value of its public holdings in Charter, and various categories of debt such as senior notes, a senior credit facility, tower obligations, a Charter margin loan and exchangeable senior debentures. It also discloses available capacity under certain credit facilities and margin loans. These disclosures are accompanied by explanations of non-GAAP measures such as Adjusted OIBDA and Adjusted OIBDA margin, including definitions and reconciliations to operating income.

GCI’s operations, as described in Liberty Broadband’s materials and in separate announcements, include providing communications services to a wide range of customer types in Alaska, including consumers, businesses, government entities and carrier customers. GCI’s network-related initiatives and partnerships, such as collaborations with technology vendors to modernize business and operations support systems, are aimed at improving customer experience, reducing operational costs and supporting new service offerings. These activities are part of GCI’s broader effort to support digital transformation and connectivity across its service areas.

Liberty Broadband’s common stock trades on the Nasdaq Global Select Market under the symbols LBRDA and LBRDK, and its preferred stock trades under LBRDP. Company press releases and investor communications are typically issued from Englewood, Colorado, which is identified as the location associated with Liberty Broadband’s corporate announcements.

Business model and segment focus

Based on the available information, Liberty Broadband functions as a communications-focused holding and investment company. Its business model centers on owning and managing interests in communications businesses, primarily its equity stake in Charter Communications and its ownership of GCI Holdings. Polygon data further characterizes Liberty Broadband as providing cable and related services to residential and commercial customers through advanced network infrastructure, with GCI Holdings and Charter identified as reportable segments.

GCI Holdings, as Liberty Broadband’s principal operating asset, generates revenue from providing data, mobile, video, voice and managed services in Alaska. Liberty Broadband’s interest in Charter Communications represents a significant public equity holding, and the company’s financial communications reference the fair value of this investment and related transactions. Together, these assets define Liberty Broadband’s role within the cable, subscription programming and telecommunications ecosystem.

Frequently Asked Questions about Liberty Broadband (LBRDK)

• What does Liberty Broadband Corporation do?
  

  Liberty Broadband operates and owns interests in communications businesses. Its principal assets consist of an interest in Charter Communications, Inc. and ownership of GCI Holdings, which provides data, mobile, video, voice and managed services in Alaska.

• What industry is Liberty Broadband in?
  

  Liberty Broadband is associated with the cable and other subscription programming industry and the broader telecommunications sector in the United States, as indicated by its industry classification and public descriptions.

• What are Liberty Broadband’s principal assets?
  

  Company disclosures state that Liberty Broadband’s principal assets are its interest in Charter Communications, Inc. and its subsidiary GCI Holdings, LLC, which operates the GCI communications business in Alaska.

• What services does GCI provide as part of Liberty Broadband’s operations?
  

  GCI provides data, mobile, video, voice and managed services to consumer, business, government and carrier customers throughout Alaska, serving more than 200 communities, according to Liberty Broadband’s public statements.

• How is Liberty Broadband involved in Alaska’s communications market?
  

  Liberty Broadband’s principal operating asset is GCI Holdings, described as Alaska’s largest communications provider. GCI has invested heavily in its Alaska network and continues to expand and strengthen statewide infrastructure to improve connectivity and address the digital divide.

• What stock symbols are associated with Liberty Broadband?
  

  Liberty Broadband’s Series A common stock trades on Nasdaq under the symbol LBRDA, its Series C common stock under LBRDK, and its Series A Cumulative Redeemable Preferred Stock under LBRDP.

• Does Liberty Broadband pay dividends?
  

  Liberty Broadband’s Board of Directors has declared regular quarterly cash dividends on its Series A Cumulative Redeemable Preferred Stock (LBRDP), with press releases specifying dividend amounts, record dates and payment dates for holders of that preferred stock.

• What is known about Liberty Broadband’s preferred stock?
  

  Liberty Broadband’s Series A Cumulative Redeemable Preferred Stock has a stated coupon rate, a liquidation preference per share plus accrued and unpaid dividends, fractional voting rights per share and a specified redemption date. The company notes that this preferred stock is treated as a liability for GAAP purposes.

• What corporate transactions has Liberty Broadband announced?
  

  Liberty Broadband has announced a definitive agreement to be acquired by Charter Communications, Inc., under which Liberty Broadband common stockholders are to receive Charter common stock. It has also announced a planned spin-off of its GCI business into a separate company, GCI Liberty, Inc., with details on the distribution of GCI Liberty shares and expected trading symbols.

• How does Liberty Broadband describe its financial performance metrics?
  

  Liberty Broadband reports revenue, operating income and Adjusted OIBDA at the consolidated level and for GCI Holdings. It defines Adjusted OIBDA as operating income (loss) plus depreciation and amortization, stock-based compensation, certain litigation settlements and restructuring and impairment charges, and provides reconciliations to operating income.