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Liberty Media buys 27.3% in Charter for USD 2.62 bln
2013-03-20 09:01:00| Telecompaper Headlines
(Telecompaper) Liberty Media has agreed to buy a 27.3 percent stake in cable company Charter Communications for USD 2.617 billion. The company controlled by John Malone will pay USD 95.50 per share to acquire 26.9 million shares and 1.1 million warrants from Charter's shareholders Apollo Management, Oaktree Capital Management and Crestview Partners. Liberty expects to fund the purchase with a combination of cash on hand and new loan arrangements. The deal should close early in Q2. Liberty Media will have the right to four seats on the Charter board after the acquisition. Chairman Malone, Liberty Media CEO Gregory Maffei, Liberty Global CTO Nair Balan, and Michael Huseby, CFO of Barnes & Noble, are expected to take up the seats, replacing Stan Parker, Darren Glatt, Bruce Karsh and Edgar Lee. Liberty Media also agreed to not increase its stake in Charter above 35 percent until January 2016 and 39.99 percent thereafter.
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Auto Sales Jump, SB Charter on the Move
2013-03-19 14:59:48| Auto Dealers - Topix.net
The Niagara Frontier Auto Dealers Association reports that February auto sales jumped two percent.
Liberty Media to buy 25% in Charter - report
2013-03-19 09:22:00| Telecompaper Headlines
(Telecompaper) Liberty Media is close to a deal to acquire 25 percent of Charter Communications from its private-equity investors, a person familiar with the situation told Bloomberg. The firms include Apollo Global Management and Oaktree Capital Management, Charter's largest shareholders. The stake was worth USD 2.48 billion at the share's closing price on 18 March. Charter, the fourth-largest cable operator in the US, declined to comment. Liberty Media already holds an undisclosed stake in Time Warner Cable, the second-biggest US cable company. Charter said earlier this month that Apollo would reduce its stake by 6.2 million shares and Oaktree would sell 3.1 million in an underwritten offering.
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Liberty Media to buy stake in Charter Communications for $2.62bn
2013-03-19 01:00:00| Total Telecom industry news
Move marks John Malone's first big investment in a U.S. cableco since he sold Tele-Communications to AT&T in 1999.
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Malone's Liberty Media near deal to buy 25% of Charter Communications
2013-03-18 20:49:31| Telecom - Topix.net
John Malone's Liberty Media Corp. is nearing a deal to buy 25 percent of Charter Communications Inc.
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