Liberty Media Corp is spinning off its cable assets, including a stake in Charter Communications Inc, into a new publicly traded company called Liberty Broadband, the media holding company said on Thursday. "We believe a separate Liberty Broadband will offer investors greater choice and transparency, and is well-timed with Charter's agreements with Comcast, which will result in Charter owning or serving over eight million video customers," Liberty Media Chief Executive Officer Greg Maffei said.Maffei's boss, Liberty Media Chairman John Malone, is famous for complicated stock structures designed to be tax-efficient.The announcement came amid more clarity on Charter's expansion plans.On April 28, Charter said it would pay Comcast $7.3 billion for 1.4 million cable subscribers and trade about 1.6 million subscribers in different parts of the country in a deal that depends on regulatory approval of Comcast's takeover of Time Warner Cable. Charter will also own one-third of a new cable company that will be spun off from Comcast.
Charter Communications, Inc. (Charter) provides cable services in the United States, offering a range of entertainment, information and communications solutions to residential and commercial customers. Shares of CHTR fell by 0.38% or $-0.525/share to $139.00. In the past year, the shares have traded as low as $109.16 and as high as $144.02. On average, 1739980 shares of CHTR exchange hands on a given day and today's volume is recorded at 299088.
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC fell by 0.87% or $-1.23/share to $140.08. In the past year, the shares have traded as low as $92.87 and as high as $147.28. On average, 3561420 shares of TWC exchange hands on a given day and today's volume is recorded at 586392.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 1.02% or $0.69/share to $68.51. In the past year, the shares have traded as low as $55.71 and as high as $70.77. On average, 5578920 shares of TWX exchange hands on a given day and today's volume is recorded at 735605.
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