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With Charter-Cox Megadeal, John Malone’s Liberty Broadband Will Lose Ownership Stake in Charter
With Charter's deal to buy Cox, John Malone's Liberty Broadband will not be a direct shareholder in the newly combined company and will not have seats on the board.
John Malone, the “cable cowboy” who has shaped the cable business for decades, is set to reap a windfall from the$34.5 billion blockbuster Charter Communications deal to acquire and merge with Cox Communications. Malone retired from the Charter board in 2018 but continued to serve as a “director emeritus” to “provide active support and advice to the company, but will not have a vote on matters presented to the board.” In April 2024, Malone announced that he was relinquishing the director emeritus role at Charter “due to the uncertainty around Clayton Act inquiries,” referring to an antitrust law that prohibits corporate directors from concurrently serving on the boards of competitors. Discovery then; last month, he said he will exit WBD’s board to assume the role of “chair emeritus.”
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