Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul><li>In November 2024, Liberty Broadband (Nasdaq: LBRDA/LBRDK) agreed to be acquired by Charter Communications (CHTR) in an all‑stock deal.</li><li>Under the merger agreement, each Liberty Broadband common share will convert into 0.236 share of Charter common stock (plus cash for fractional shares), and each Liberty preferred share will convert to a new Charter preferred share.</li><li>As part of the deal, Liberty Broadband will spin off its fully owned Alaska telecom business (GCI, LLC) to Liberty shareholders before the Charter merger closes.</li></ul>

In November 2024, Liberty Broadband (Nasdaq: LBRDA/LBRDK) agreed to be acquired by Charter Communications (CHTR) in an all‑stock deal.Under the merger agreement, each Liberty Broadband common share will convert into 0.236 share of Charter common stock (plus cash for fractional shares), and each Liberty preferred share will convert to a new Charter preferred share.As part of the deal, Liberty Broadband will spin off its fully owned Alaska telecom business (GCI, LLC) to Liberty shareholders before the Charter merger closes.

Weekly Update (GCI, IGT/BRSL, Greenblatt)

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Charter Communications  / Equity Bottom-Up

<ul><li>Charter Communications' first-quarter 2025 performance indicates a balanced mix of positives and challenges.</li><li>From a growth perspective, the company continued to assert its position as a leader in the mobile sector, adding over 500,000 Spectrum Mobile lines during the quarter.</li><li>This growth translates to more than 2.1 million lines added over the past year, reflecting a line growth exceeding 25%.</li></ul>

Charter Communications' first-quarter 2025 performance indicates a balanced mix of positives and challenges.From a growth perspective, the company continued to assert its position as a leader in the mobile sector, adding over 500,000 Spectrum Mobile lines during the quarter.This growth translates to more than 2.1 million lines added over the past year, reflecting a line growth exceeding 25%.

Charter Communications: An Enhanced Video & Broadband Offerings & Other Major Drivers

<ul><li>In 2024, Charter faced hurdles such as the conclusion of the Affordable Connectivity Program (ACP), which led to a loss of subscribers but managed to retain 90% of the former ACP users.</li><li>The year also witnessed impacts from natural disasters like Hurricanes Helene and Milton, which temporarily inflated disconnects and increased operational costs.</li><li>Despite these challenges, the company reported a revenue growth of 1%, and its EBITDA grew by 3.1%, much attributed to the vigorous expansion in their Spectrum Mobile services and cost-efficiency initiatives.</li></ul>

In 2024, Charter faced hurdles such as the conclusion of the Affordable Connectivity Program (ACP), which led to a loss of subscribers but managed to retain 90% of the former ACP users.The year also witnessed impacts from natural disasters like Hurricanes Helene and Milton, which temporarily inflated disconnects and increased operational costs.Despite these challenges, the company reported a revenue growth of 1%, and its EBITDA grew by 3.1%, much attributed to the vigorous expansion in their Spectrum Mobile services and cost-efficiency initiatives.

Charter Communications Inc.: Mobile & Wireless Convergence To Up Their Game!

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Author has a long position in CHTR and may buy or sell securities without notice</li><li>Importance of conducting independent research before making investment decisions</li><li>Views CHTR as a opportunity despite competition from FWA, with significant risk-reward potential</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Author has a long position in CHTR and may buy or sell securities without noticeImportance of conducting independent research before making investment decisionsViews CHTR as a opportunity despite competition from FWA, with significant risk-reward potentialThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Charter Communications Inc (CHTR) - Thursday, Oct 17, 2024

<ul><li>Charter Communications recently reported their third-quarter performance, providing insights into several dimensions of their business strategy and financial results.</li><li>Within a challenging competitive and macroeconomic landscape, Charter has emphasized resilience and strategic investments aimed at future growth.</li><li>On the positive side, Charter demonstrated robust performance in their mobile segment, adding 545,000 Spectrum Mobile lines and achieving over 2.1 million lines year-over-year—a clear indicator of strong demand and successful strategies to attract mobile customers.</li></ul>

Charter Communications recently reported their third-quarter performance, providing insights into several dimensions of their business strategy and financial results.Within a challenging competitive and macroeconomic landscape, Charter has emphasized resilience and strategic investments aimed at future growth.On the positive side, Charter demonstrated robust performance in their mobile segment, adding 545,000 Spectrum Mobile lines and achieving over 2.1 million lines year-over-year—a clear indicator of strong demand and successful strategies to attract mobile customers.

Charter Communications: An Analysis Of Its Fiber Footprint Expansion and Network Investments & Other Major Drivers

United States

Charter Communications, Inc. operates as a cable telecommunications company. The Company offers cable broadcasting, internet, voice, and mass media services. Charter Communications serves customers in the United States.

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Charter Communications (CHTR US)

Weekly Update (GCI, IGT/BRSL, Greenblatt)

In November 2024, Liberty Broadband (Nasdaq: LBRDA/LBRDK) agreed to be acquired by Charter Communications (CHTR) in an all‑stock deal. Under the...

Richard Howe

Charter Communications: An Enhanced Video & Broadband Offerings & Other Major Drivers

Charter Communications' first-quarter 2025 performance indicates a balanced mix of positives and challenges. From a growth perspective, the...

Baptista Research

Charter Communications Inc.: Mobile & Wireless Convergence To Up Their Game!

In 2024, Charter faced hurdles such as the conclusion of the Affordable Connectivity Program (ACP), which led to a loss of subscribers but managed...

Baptista Research

Charter Communications Inc (CHTR) - Thursday, Oct 17, 2024

Author has a long position in CHTR and may buy or sell securities without notice. Importance of conducting independent research before making...

Value Investors Club (VIC)

Charter Communications: An Analysis Of Its Fiber Footprint Expansion and Network Investments & Other Major Drivers

Charter Communications recently reported their third-quarter performance, providing insights into several dimensions of their business strategy...

Baptista Research

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