Liberty Broadband
Liberty Broadband is a communications company with principal assets in Charter Communications and its subsidiary GCI, Alaska's largest communications provider. The company engages in significant financial activities including dividends, share sales, and repurchases.
Company Overview
Liberty Broadband owns significant interests in a diverse range of communications businesses. Its principal assets include an investment in Charter Communications and a subsidiary, GCI. Liberty Broadband's broad portfolio exemplifies its strategic engagement in the communications sector.
Key Investments
Liberty Broadband's foremost investment is in Charter Communications, with the fair value of this investment being $20.7 billion as of September 30, 2023. The company resumed Charter share sales in October 2023, garnering $48 million from the sale of 111 thousand shares.
GCI - Subsidiary Operations
GCI, a subsidiary of Liberty Broadband, stands as Alaska's largest communications provider. It offers an array of services including data, wireless, video, voice, and managed services. For over 40 years, GCI has been delivering communication services to some of North America's most remote communities. In Q3 2023, GCI reported $240 million in revenue, marking a 3% decrease, with operating income of $30 million and Adjusted OIBDA decreasing by 1% to $89 million.
Financial Operations
Liberty Broadband's financial strategies include consistent share repurchases. In October 2023, the company repurchased 149 thousand LBRDK shares at an average price of $88.18 each, totaling $13.1 million. The remaining repurchase authorization for Liberty Broadband was approximately $1.9 billion as of November 1, 2023.
Dividend Announcements
Liberty Broadband declared a quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend is payable on April 15, 2024, to holders of record by April 1, 2024. This move reflects the company's commitment to delivering value to its investors.