Liberty Broadband LBRDK

Liberty Broadband Corporation is primarily comprised of an equity method investment in Charter Communications Inc The company operates as a holding entity whose core business activity involves owning and managing its stake in Charter which provides broadband connectivity services across the United States Liberty Broadband does not engage in direct operations of telecommunications services but derives its value from its ownership interest in Charter and related strategic arrangements

Liberty Broadband generates revenue through its equity method investment in Charter which entitles it to a share of Charter's earnings based on its ownership percentage The company does not produce goods or services directly but benefits financially from Charter's performance in delivering Internet mobile video and voice services to residential and business customers Charter's revenue comes from monthly subscription fees for its Spectrum branded products including Internet mobile video and voice services as well as business solutions advertising and other service offerings

The company operates through the following segments:

• Liberty Broadband segment includes the equity method investment in Charter and related corporate activities such as managing ownership interests and maintaining agreements with Liberty Media Corporation.

• GCI Liberty segment which was presented as a discontinued operation following the GCI Divestiture completed on July 14 2025 and previously owned the GCI Business including GCI LLC and its operations conducting broadband and telecommunications services in Alaska and other regions.

Liberty Broadband holds a significant ownership interest in Charter Communications Inc which positions it as a major stakeholder in one of the largest broadband connectivity providers in the United States The company's influence is defined by its voting control of 25.01% of Charter's aggregate voting power which allows it to participate in governance through board representation rights under the Stockholders Agreement Liberty Broadband's competitive advantage lies in its passive ownership structure that enables it to benefit from Charter's scale network investments and customer base without bearing direct operational risks Its position is reinforced by longstanding agreements that govern its relationship with Charter and provide mechanisms for maintaining liquidity and tax efficiency

Liberty Broadband's customer base is indirect through its ownership in Charter Charter serves approximately 58 million homes and small to large businesses across 41 states under its Spectrum brand The company's customers include residential consumers small businesses mid-market and large enterprises and carrier organizations Charter provides services to individual households apartment complexes single-family gated communities off-campus student housing senior residences and RV parks through its Spectrum Community Solutions offering Additionally Charter serves government entities healthcare hospitality and education sectors through its mid-market and large business solutions