Liberty Broadband (LBRDA, LBRDK) said Friday it agreed to accelerate the closing of its acquisition by Charter Communications (CHTR) to match the timing of Charter's combination with Cox Communications.
Liberty said it has also agreed to provide voting support for the Charter and Cox combination, with its three company nominees on Charter's board resigning at closing of its acquisition.
If Charter and Cox do not complete their transaction, Liberty Broadband said it may choose to accelerate the close of its transaction with Charter to occur on the tenth business day after the termination of the Charter and Cox transaction, or the third business day after meeting the closing conditions to the Liberty and Charter transaction, whichever comes later.
Charter's acquisition of Liberty is subject to the completion of the spin-off of Liberty's GCI business, expected to occur in summer 2025, and other customary conditions, Liberty said.
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