Back in November, Charter Communications and Liberty Broadband announced that the two companies had “entered into a definitive agreement under which Charter has agreed to acquire Liberty Broadband in an all-stock transaction.”
This week, Liberty Broadband shareholders approved the proposed merger, via a short virtual meeting led by John Malone, chairman of the board of Liberty Broadband. Charter also had a stockholder meeting to approve the proposal. The acquisition is set to close on June 30, 2027, according to the announcement shared by Charter.
News of the approved merger comes a month after Charter shared Q4 2024 financial results when the company reported a loss of 177,000 Spectrum broadband customers, finishing the year with 30.1 million customers.
“As we look at 2025 and beyond, the environment for broadband, mobile and video remains competitive, but we have better visibility than this time last year,” Chris Winfrey, president and CEO of Charter, said during a call with analysts following the report. Winfrey reiterated during that call that the company is looking at packages and pricing to offer more value to customers.