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Wally Weitz Comments on Liberty Broadband

- By Holly LaFon

Shares of Liberty Broadband ( NASDAQ:LBRDA ), which represent Liberty Media's 26% stake in Charter Communications, declined ~11% during the fourth quarter. In October, Charter reported a larger-than-expected decline in video subscribers and slower growth in the high- speed data (i.e., broadband) business. While strategic interest in Charter's core cable assets appears to remain high, management continues to believe the most tax- efficient path to maximizing shareholder value is by gradually improving the Time Warner Cable and Brighthouse assets standalone. Despite the fourth-quarter breather, shares of Liberty Broadband were healthy contributors to full-year performance.

From Weitz Investment Management's Value Fund fourth-quarter commentary.

This article first appeared on GuruFocus.