Liberty Media Puts Up $2.6B For 27% Charter Stake

Law360, New York (March 19, 2013, 1:59 PM EDT) -- Liberty Media Corp. has agreed to acquire roughly 27.3 percent of private equity-backed cable operator Charter Communications Inc. in a $2.62 billion stock and warrant purchase, both companies said Tuesday.

Liberty Media, a Colorado-based communications conglomerate controlled by John C. Malone, will pay $95.50 per share of Charter, a 2.6 percent discount to the firm's closing price of $98.04 on the Nasdaq Stock Exchange on Monday. The company will fund the purchase with a combination of cash on hand and new loans, it said.

St. Louis-based...
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