Core Viewpoint - Charter Communications and Liberty Broadband have announced a long-anticipated merger, which is expected to create significant synergies in the TMT (Technology, Media, and Telecommunications) sector [1]. Company Summary - The merger between Charter Communications and Liberty Broadband has been expected for a considerable time by investors and stakeholders, indicating strong market anticipation and potential for growth [1].

Core Viewpoint - Halper Sadeh LLC is investigating the fairness of the sale of Liberty Broadband Corporation to Charter Communications, focusing on whether the transaction provides adequate value to Liberty Broadband shareholders [1][3]. Group 1: Investigation Details - The investigation examines if Liberty Broadband and its board violated federal securities laws or breached fiduciary duties by not securing the best possible consideration for shareholders [3]. - Concerns include whether Charter is underpaying for Liberty Broadband and if all material information necessary for shareholders to assess the merger was disclosed [3]. Group 2: Legal Actions - Halper Sadeh LLC may seek increased consideration for Liberty Broadband shareholders, additional disclosures, and other forms of relief related to the proposed transaction [4]. - The firm operates on a contingent fee basis, meaning shareholders would not incur out-of-pocket legal fees or expenses [4].

Financial Data and Key Metrics Changes - Liberty Broadband reported consolidated cash and cash equivalents of $168 million, including $47 million at GCI, and a total principal amount of debt of $3.7 billion, excluding preferred stock [17] - The value of the Charter investment was $18.6 billion based on shares held as of November 1 and the closing price [17] - Charter experienced revenue growth of 1.6% and adjusted EBITDA growth of 3.6% during the quarter, with residential ARPU up 1.8% [10] Business Line Data and Key Metrics Changes - GCI's revenue increased by $22 million year-over-year, driven by strong data revenue, while adjusted OIBDA rose to $11 million [18] - Viator's adjusted EBITDA was $30 million with an 11% margin, showing solid growth outside of search and direct channels [14] - TheFork achieved record financial performance with revenue up 17% and adjusted EBITDA of $5 million, marking a 10% margin [15] Market Data and Key Metrics Changes - Charter experienced a net loss of 110,000 broadband subscribers, which would have been growth without the impact of the ACP [9] - Mobile services added 545,000 net subscribers, bringing the total to over 9 million lines, with ARPU growth driven by the Unlimited Plus tier [11] Company Strategy and Development Direction - Liberty Broadband is discussing a proposed all-stock transaction with Charter to rationalize the dual corporate structure and enhance trading liquidity [7] - Charter is focusing on convergence through its mobile offerings and broadband upgrades, aiming to leverage its coax and fiber network strengths [34][35] Management's Comments on Operating Environment and Future Outlook - Management noted that discussions with Charter are aimed at eliminating the NAV discount and providing clarity to shareholders [8] - The management anticipates that October will be the last month of significant impact from the ACP on Charter's subscriber growth [9] Other Important Information - Liberty Broadband's discussions with TripAdvisor are ongoing, with a focus on capital structure rationalization [12] - TripAdvisor reported a positive growth in MAUs year-over-year, with a 30% increase in direct channel monthly active users [13] Q&A Session Summary Question: Why is Liberty Broadband moving forward with Charter discussions now? - Management explained that the proposed structure benefits both parties by tightening the discount and eliminating the dual corporate structure over time [25] Question: What needs to happen for Charter to resume stock buybacks? - Management indicated that buybacks could resume upon the announcement of a signed deal or if discussions fail [26] Question: How does Alaska's regulatory environment affect potential transactions? - Management noted that Alaska's regulatory approval process is simpler compared to federal processes, making it less of an issue [27] Question: What is the timeline for the potential transaction involving GCI? - Management stated that the timeline was designed to accommodate regulatory processes and allow for deleveraging [32] Question: How does the broadband market and competitive dynamics look moving forward? - Management highlighted Charter's aggressive pursuit of convergence and the importance of their upgraded broadband offerings [34] Question: What are the implications of a potential relaxation of antitrust views? - Management suggested that while there are limited targets for acquisition, a new regulatory regime could open up more opportunities for M&A [37]

Financial Performance - Liberty Broadband reported revenue of $262 million for the three months ended September 30, 2024, compared to $240 million for the same period in 2023, representing an increase of approximately 9.2%[26]. - Adjusted OIBDA for Liberty Broadband was $93 million in Q3 2024, up from $85 million in Q3 2023, reflecting a growth of about 9.4%[22]. - The operating income for Liberty Broadband increased to $30 million in Q3 2024 from $21 million in Q3 2023, marking a rise of approximately 42.9%[26]. - Net earnings attributable to Liberty Broadband shareholders were $142 million in Q3 2024, down from $162 million in Q3 2023, indicating a decrease of about 12.3%[26]. - GCI's revenue increased by 9% year-over-year to $262 million in Q3 2024, with operating income rising 40% to $42 million[10]. - Adjusted OIBDA for GCI grew 12% to $100 million, reflecting a margin increase of 110 basis points to 38.2%[10]. - Consumer revenue for GCI increased by 2% to $116 million, while business revenue surged 16% to $146 million[10]. Cash and Debt Management - Total cash for Liberty Broadband increased by $95 million in Q3 2024, primarily due to proceeds from Charter share sales[7]. - Liberty Broadband's total debt remained relatively flat at $3.725 billion as of September 30, 2024[8]. - GCI's leverage ratio was reported at 3.1x as of September 30, 2024, with undrawn capacity of $367 million in its credit facility[8]. - Cash and cash equivalents at Liberty Broadband were $168 million as of September 30, 2024, compared to $158 million at the end of 2023, reflecting an increase of about 6.3%[24]. - Liberty Broadband's long-term debt was $3.709 billion as of September 30, 2024, slightly down from $3.733 billion at the end of 2023[24]. Investments and Shareholder Returns - Liberty Broadband reported a fair value of its investment in Charter at $14.8 billion as of September 30, 2024[1]. - Liberty Broadband received $74 million from the sale of 225,000 Charter shares, maintaining a 26% fully diluted equity interest in Charter[1][3]. - Liberty Broadband has approximately $1.7 billion remaining in its stock repurchase authorization as of October 31, 2024[2]. - Liberty Broadband's stock repurchases amounted to $89 million in the nine months ended September 30, 2024, compared to $40 million in the same period of 2023[28]. Asset Growth - The total assets of Liberty Broadband increased to $16.303 billion as of September 30, 2024, compared to $15.641 billion at the end of 2023, showing a growth of approximately 4.2%[24]. - The company’s equity increased to $9.538 billion as of September 30, 2024, from $9.023 billion at the end of 2023, representing a growth of approximately 5.7%[24]. Capital Expenditures - GCI's capital expenditures for Q3 2024 were $39 million, with full-year expectations around $200 million focused on network improvements in rural Alaska[12]. Operating Activities - The company reported a net cash provided by operating activities of $103 million for the nine months ended September 30, 2024, compared to a net cash used of $46 million for the same period in 2023[28].

Financial Performance - GCI Holdings reported revenue of $262 million for Q3 2024, an increase of $22 million compared to Q3 2023, and $753 million for the nine months ended September 30, 2024, up from $731 million in the same period last year [123][124]. - Operating income for GCI Holdings increased to $42 million in Q3 2024 from $30 million in Q3 2023, and for the nine months, it rose to $109 million from $91 million [123][125]. - Adjusted OIBDA for GCI Holdings was $100 million in Q3 2024, up from $89 million in Q3 2023, and $276 million for the nine months, compared to $271 million in the prior year [123][127]. - Revenue for the three months ended September 30, 2024, was $13,795 million, an increase of $211 million from $13,584 million in the prior year, and for the nine months, it rose to $41,159 million from $40,896 million [135]. - Net income for the three months ended September 30, 2024, was $1,474 million, compared to $1,436 million in the prior year, and for the nine months, it increased to $4,177 million from $4,032 million [135]. - Share of earnings from affiliates increased by $20 million and $31 million for the three and nine months ended September 30, 2024, respectively, due to higher net income at Charter [133]. - Cash flow from operating activities provided $103 million for the nine months ended September 30, 2024, compared to a use of $(46) million in the prior year [152]. - Total revenue for the nine months ended September 30, 2024, was $753 million, an increase from $731 million in 2023, with adjusted OIBDA rising to $276 million from $271 million [161][162]. Customer Trends - Charter lost 110,000 Internet customers in Q3 2024 but added 545,000 mobile lines, indicating a shift in customer demand [117]. - Charter's Spectrum One offering contributed to mobile line growth, providing a bundled service that includes Internet, WiFi, and mobile connectivity [118]. - Consumer data revenue increased by $2 million and $4 million for the three and nine months ended September 30, 2024, respectively, driven by higher recurring monthly charges [164]. - Business data revenue rose by $20 million and $25 million for the three and nine months ended September 30, 2024, respectively, primarily due to increased sales to health care and education customers [167]. Operating Expenses - Operating expenses increased by $5 million and $8 million for the three and nine months ended September 30, 2024, respectively, mainly due to higher distribution costs [170]. - Selling, general, and administrative expenses increased by $6 million and $9 million for the three and nine months ended September 30, 2024, respectively, primarily due to labor-related costs [171]. Investments and Initiatives - Charter invested $581 million in its subsidized rural construction initiative in Q3 2024, activating approximately 114,000 subsidized rural passings [119]. - Charter's network evolution initiative is progressing, with plans to deliver symmetrical and multi-gigabit speeds across its footprint [119]. - Charter launched its Life Unlimited brand platform in September 2024, aimed at enhancing customer service and simplifying pricing structures [120]. Economic and Financial Challenges - The company faces challenges from inflationary pressures affecting costs of materials and labor, which could impact margins if not managed effectively [113]. - GCI Holdings' business is sensitive to economic conditions in Alaska, particularly fluctuations in the oil industry and state government spending, which could affect demand for its services [111]. - Interest expense decreased by $8 million and $2 million for the three and nine months ended September 30, 2024, respectively, driven by lower amounts outstanding on the Margin Loan Facility [131]. - Other expenses, net increased by $134 million and $200 million for the three and nine months ended September 30, 2024, primarily due to increased interest expense and losses on financial instruments [140]. Debt and Cash Management - As of September 30, 2024, GCI Holdings had variable rate debt of $427 million at a weighted average interest rate of 7.0% and fixed rate debt of $600 million at a weighted average interest rate of 4.8% [177]. - The projected uses of cash for the remainder of 2024 include approximately $20 million for net capital expenditures and $60 million for interest payments on outstanding debt [156]. - The company expects corporate cash and other available sources of liquidity to cover corporate expenses for the foreseeable future [156].

Core Insights - Liberty Broadband reported quarterly earnings of $0.99 per share, missing the Zacks Consensus Estimate of $2.68 per share, and down from $1.10 per share a year ago, representing an earnings surprise of -63.06% [1] - The company posted revenues of $262 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 10.36% and up from $240 million year-over-year [2] - The stock has gained approximately 25.8% year-to-date, outperforming the S&P 500's gain of 24.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.72 on revenues of $247.14 million, and for the current fiscal year, it is $8.45 on revenues of $975.56 million [7] - The estimate revisions trend for Liberty Broadband is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Cable Television industry, to which Liberty Broadband belongs, is currently ranked in the bottom 37% of over 250 Zacks industries, suggesting potential challenges ahead [8]

Liberty Broadband (LBRDK) shares rallied 11.2% in the last trading session to close at $89.90. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.7% gain over the past four weeks.Liberty Broadband shares are benefiting from the counterproposal to Charter's merger proposal ahead of third-quarter earnings. The proposition offers Liberty Broadband investors 0.29 Charter shares per Liberty share instead of the ini ...

Key Takeaways Liberty Broadband shares surged Tuesday after the communications provider made a counteroffer to a merger proposal from Charter Communications. The counteroffer calls for Liberty Broadband investors to get 0.29 Charter shares for each Liberty share they own. Charter's proposal was for 0.228 of a share for each share of Liberty. Liberty currently owns a 26% stake in Charter, which offers internet, cable television, and mobile phone services under the Spectrum brand. Shares of billionaire cable ...

Liberty Broadband (LBRDK) came out with quarterly earnings of $1.36 per share, missing the Zacks Consensus Estimate of $2.51 per share. This compares to earnings of $1.71 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -45.82%. A quarter ago, it was expected that this tracking stock would post earnings of $2.38 per share when it actually produced earnings of $1.69, delivering a surprise of -28.99%. Over the last four quarters ...

Exhibit 99.1 LIBERTY BROADBAND REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS Englewood, Colorado, May 8, 2024 – Liberty Broadband Corporation ("Liberty Broadband") (Nasdaq: LBRDA, LBRDK, LBRDP) today reported first quarter 2024 results. Headlines include (1): Share Repurchases From February 1, 2024 through April 30, 2024, Liberty Broadband repurchased 103 thousand shares of Series C Liberty Broadband common stock (Nasdaq: LBRDK) at an average cost per share of $79.88 for total cash consideration of $8.2 mill ...