Liberty Interactive Corporation Completes $2.4 Billion Investment in Liberty Broadband Corporation in Support of Charter-Time Warner Cable Merger

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Liberty Interactive Corporation (NASDAQ: QVCA, QVCB, LVNTA, LVNTB) (“Liberty Interactive”) today announced that it completed its $2.4 billion investment in Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK) (“Liberty Broadband”) upon the closing of today’s announced merger of legacy Charter Communications, Inc. and Time Warner Cable Inc. (“TWC”) and the concurrent acquisition of Bright House Networks. The proceeds of this investment were used by Liberty Broadband to partially fund its acquisition of $5 billion of stock in the new public parent company (“New Charter”) of the combined enterprises. Liberty Interactive (along with third party investors, all of whom invested on the same terms as Liberty Interactive) purchased newly issued shares of Liberty Broadband Series C common stock at a fixed per share price of $56.23. Liberty Interactive’s investment in Liberty Broadband was funded using cash on hand and has been attributed to the Liberty Ventures Group.