Liberty Broadband Corporation filed a current report on August 21, 2026, disclosing that on August 19, 2026, it completed its merger with Charter Communications, Inc., becoming a wholly owned subsidiary of Charter and triggering the delisting of its shares from Nasdaq.

Key Highlights

  • Merger closed August 19, 2026: Merger Sub merged with and into Liberty Broadband, with Liberty Broadband subsequently merging into Merger LLC, leaving it a wholly owned subsidiary of Charter Communications.
  • Conversion ratio set at 0.236: Each share of Liberty Broadband Series A, Series B, and Series C Common Stock was converted into 0.236 of a share of Charter Class A Common Stock, with cash paid in lieu of fractional shares.
  • Preferred stock converted one-for-one: Each share of Liberty Broadband Series A Cumulative Redeemable Preferred Stock was converted into one share of Charter's Series A Cumulative Redeemable Preferred Stock.
  • Margin loan repaid: On August 20, 2026, LBC Cheetah 6, LLC repaid all outstanding loans under the Margin Loan Agreement; the aggregate principal amount outstanding immediately prior to repayment was $919,000,000.
  • Charter loan outstanding: As of the consummation of the Merger, $359,119,602.26 in aggregate principal remained under the Loan Agreement dated May 12, 2026, between Liberty Broadband and Charter, which is expected to be discharged in full.
  • Nasdaq delisting requested: Liberty Broadband notified Nasdaq of the Merger's completion and requested delisting of LBRDA, LBRDK, and LBRDP effective following the Effective Time of 11:56 p.m. New York City time on August 19, 2026.
  • Key agreements terminated: The Services Agreement and Aircraft Time Sharing Agreement between Liberty Media Corporation and Liberty Broadband, both previously in effect, were terminated on the closing date.

Liberty Broadband's Combination With Charter and Its Effect on Shareholders and Agreements

According to the filing, the combination was carried out pursuant to the Agreement and Plan of Merger dated November 12, 2024, and a subsequent Letter Agreement dated May 16, 2025. At 11:56 p.m. New York City time on August 19, 2026, Liberty Broadband's common stockholders saw their shares automatically converted into Charter Class A Common Stock at the fixed exchange ratio of 0.236 shares of Charter Class A Common Stock per Liberty Broadband common share. Liberty Broadband, incorporated in Delaware and headquartered at 400 Washington Blvd., Stamford, Connecticut, had its Series A, Series C, and preferred shares listed on NASDAQ:LBRDA, NASDAQ:LBRDK, and NASDAQ:LBRDP, respectively, prior to the transaction.

The filing further disclosed that several longstanding agreements were terminated on the closing date. These included a Services Agreement originally dated November 4, 2014, and an Aircraft Time Sharing Agreement dated May 22, 2020, both between Liberty Media Corporation and Liberty Broadband. Additionally, Liberty Broadband was no longer subject to the Second Amended and Restated Stockholders Agreement among Charter, Liberty Broadband, and Advance/Newhouse Partnership, dated as of May 23, 2015, as amended. The surviving company in the combination also intends to file a certification requesting the termination of registration of LBRDA, LBRDK, and LBRDP under Section 12(g) of the Exchange Act, and the suspension of Liberty Broadband's reporting obligations under Sections 13 and 15(d) of the Exchange Act. Shares of Series B Common Stock, which had been quoted on the OTCQB Venture Market, will no longer be quoted there following the transaction.

What Was Disclosed

Liberty Broadband reported the closing of its merger into Charter Communications on August 19, 2026, including share conversion terms, the repayment of a $919,000,000 margin loan, termination of key agreements, and the initiation of Nasdaq delisting procedures for all listed share classes.