Deal Description: Liberty Broadband Corporation (“Liberty Broadband”) and GCI Liberty, Inc. (“GCI Liberty”) announced today that they have entered into a definitive merger agreement under which Liberty Broadband has agreed to acquire GCI Liberty in a stock-for-stock merger (the “Combination”). The companies expect the Combination to close in the first half of 2021 subject to certain customary conditions. The transaction represents $8.7b equity value for GCI Liberty.

GCI Liberty’s principal assets consist of its subsidiary GCI Holdings, LLC and non-controlling interests in Liberty Broadband, Charter Communications, Inc., and LendingTree, Inc. Liberty Broadband’s businesses consist of its interest in Charter Communications, Inc. and its subsidiary Skyhook.

Baker Botts is representing GCI Liberty in the transaction.

Baker Botts Lawyers/Office Involved:

Corporate: Samantha Crispin (Partner, Dallas); Nicole Perez (Partner, New York); Frederick McGrath (Partner, New York); Beverly Reyes (Partner, New York); Quentin Wiest (Senior Associate, New York); Jennifer Ybarra (Associate, Dallas); Emilie Heck (Associate, Austin); Andrew Hwang (Associate, New York); Sumair Sangha (Associate, New York); Deren Guidara (Law Clerk, New York)

Finance: Robert Wann (Partner, New York); Chad Davis (Senior Associate, New York); Taylor Courtade (Associate, Dallas)

Tax: Tamar Stanley (Partner, Washington, D.C.); Josh Mandell (Partner, Dallas); Robin Melman (Partner, New York); Matt Donnelly (Special Counsel, Washington, D.C.); Peter Farrell (Senior Associate, Washington, D.C.); Gabriela Alvarez (Associate, Houston)

For more information, please see the full news release here.

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