Liberty Broadband’s (2.6%) (LBRDK, Financial)(LBRDA, Financial) (LBRDK/LBRDA – $110.72/$107.00 – NASDAQ) principal asset is a 21% interest in Charter Communications, the second largest cable company in the United States. Liberty Broadband is the product of decades of financial engineering by cable pioneer Dr. John Malone, who effectively controls the company. Charter, currently operated by former Cablevision executive Tom Rutledge, successfully integrated the acquisitions of Time Warner Cable and Bright House and is now capitalizing on its broadband infrastructure advantage during a time of increasing internet usage. Almost one quarter of Liberty Broadband is owned by another Malone-related public entity knows as GCI Liberty (GLIB) which also counts a direct stake in Charter, 28% of Lending Tree and Alaskan cable and wireless operator General Communications among its assets. Given the overlap, there has been public speculation about an eventual combination of LBRD and GLIB.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Value 25 Fund first-quarter 2020 shareholder commentary.
