Charter Communications and jvid视频 Announce Completion of Investment

STAMFORD, Conn. & ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Charter Communications, Inc. (Nasdaq: CHTR) (鈥淐harter鈥�) and Liberty Media Corporation (Nasdaq: LMCA, LMCB) (鈥淟iberty鈥�) announced today that Liberty has completed its previously announced agreement with investment funds managed by, or affiliated with, Apollo Management, Oaktree Capital Management and Crestview Partners to acquire 26.9 million shares and 1.1 million warrants in Charter Communications, Inc. for $2.6 billion, which represents a 27.3% beneficial ownership in Charter using shares outstanding as of December 31, 2012, and a price per share of $95.50.

Liberty funded the purchase with cash on hand of $1.2 billion and borrowed $1.4 billion under newly executed margin loans on 20.3 million Charter common shares (Nasdaq: CHTR), 720 million SiriusXM common shares (Nasdaq: SIRI), 8.1 million Live Nation Entertainment common shares (NYSE: LYV) and a portion of Liberty鈥檚 available for sale securities.

Liberty and Charter have entered into a previously announced stockholders agreement that among other things provides Liberty the right to designate up to four directors for appointment to the Charter board. With the closing of the transaction, Liberty has designated, and Charter鈥檚 board of directors has appointed, John Malone, Chairman of Liberty; Gregory Maffei, President and CEO of Liberty; Balan Nair, EVP and CTO of Liberty Global; and Michael Huseby, CFO of Barnes & Noble to join Charter鈥檚 board of directors. Additionally, John Malone will serve on the board鈥檚 Nominating and Corporate Governance Committee, Greg Maffei will serve on the board鈥檚 Compensation and Benefits Committee, and Michael Huseby will serve on the board鈥檚 Audit Committee.

The board appointments were made in conjunction with the resignation of Stan Parker, Darren Glatt, Bruce Karsh and Edgar Lee from the board.

jvid视频 Charter

Charter (Nasdaq: CHTR) is a leading broadband communications company and the fourth-largest cable operator in the United States. Charter provides a full range of advanced broadband services, including advanced Charter TV庐 video entertainment programming, Charter Internet庐 access, and Charter Phone庐. Charter Business庐 similarly provides scalable, tailored, and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul. Charter's advertising sales and production services are sold under the Charter Media庐 brand. More information about Charter can be found at .

jvid视频 jvid视频

jvid视频 (Nasdaq: LMCA, LMCB) owns interests in a broad range of media, communications and entertainment businesses, including its subsidiaries SiriusXM, Atlanta National League Baseball Club, Inc. and TruePosition, Inc., its interests in Charter Communications, Live Nation Entertainment and Barnes & Noble, and minority equity investments in Time Warner Inc. and Viacom.

jvid视频
Courtnee Ulrich, 720-875-5420
or
Charter Communications, Inc.
Media:
Anita Lamont, 314-543-2215
Analysts:
Stefan Anninger, 203-905-7955

Source: jvid视频

Released May 1, 2013