Liberty Media Pushes Forward With Second-Half Broadband Spinoff

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Liberty Media Pushes Forward With Second-Half Broadband Spinoff

Liberty Media Pushes Forward With Second-Half Broadband Spinoff
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Liberty Media Pushes Forward With Second-Half Broadband Spinoff

TheStreet 0:52 mins

Liberty Media is moving forward with plans to spin off Liberty Broadband Corporation, scheduled to occur in the latter half of this year. The John Malone-chaired company confirmed Tuesday that the newly-formed company will comprise: its interest in Charter Communications; mobile geo-location company TruePosition; and its minority investment in Time Warner Cable. Liberty said it will distribute subscription rights to acquire shares in the spinoff with one share of Liberty Broadband equal to four shares of Liberty Media. The SiriusXM majority owner reported second-quarter operating profit of $231 million.

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