Liberty Broadband completes acquisition of GCI Liberty
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Liberty Broadband Corp. Inc. completed its previously announced acquisition of GCI Liberty Inc., according to a Dec. 18 news release.
Effective at the time of closing, each share of GCI Liberty series A common stock was converted into 0.580 of a share of Liberty Broadband series C common stock, each share of GCI Liberty Series B common stock was converted into 0.580 of a share of Liberty Broadband series B common stock and each share of GCI Liberty Series A cumulative redeemable preferred stock was converted into 1 share of newly issued Liberty Broadband series A cumulative redeemable preferred stock.
Cash will be paid in lieu of fractional shares of Liberty Broadband series C and series B common stock, Liberty Broadband said.