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Last Trade
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Last Trade:
$117.06
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Change:
-0.59 (-0.50%)
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Trade Time:
02:13 PM EST
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Market Cap:
$17.88B
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Description of Business
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During May 2014, the board of directors of Liberty Media Corporation and its
subsidiaries ("Liberty") authorized management to pursue a plan to spin-off to
its stockholders common stock of a wholly-owned subsidiary, Liberty Broadband
Corporation ("Liberty Broadband"), and to distribute subscription rights to
acquire shares of Liberty Broadband's common stock (the "Broadband Spin-Off").
Liberty Broadband was formed in 2014 as a Delaware corporation. At the time of
the Broadband Spin-Off, Liberty Broadband was comprised of, (i) Liberty's
former interest in Charter Communications, Inc. ("Legacy Charter"),
(ii) Liberty's former wholly-owned subsidiary TruePosition, Inc.
("TruePosition"), (iii) Liberty's former minority equity investment in Time
Warner Cable, Inc.
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