Liberty Interactive Corporation Announces Agreement with Liberty Broadband to Invest $2.4 billion in Support of Charter-Time Warner Cable Merger

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Liberty Interactive Corporation (NASDAQ: QVCA, QVCB, LNVTA, LVNTB) (“Liberty Interactive”) today announced that it has entered into an agreement with Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK) (“Liberty Broadband”) whereby Liberty Interactive will invest $2.4 billion in Liberty Broadband in connection with (and contingent upon) the closing of today’s announced proposed merger of Charter Communications, Inc. (“Charter”) and Time Warner Cable Inc. (“TWC”). The proceeds of this investment will be used by Liberty Broadband to fund, in part, its agreement to acquire $4.3 billion of Charter stock. Liberty Broadband’s acquisition will be made in support of (and contingent upon) the closing of the Charter-TWC merger. In connection with these transactions, it is expected that Charter will undergo a corporate reorganization, resulting in a current subsidiary of Charter becoming the publicly traded parent company (“New Charter”). Liberty Interactive’s investment in Liberty Broadband will be funded using cash on hand and will be attributed to the Liberty Ventures Group.