CHTR Quick Hit: Charter Buybacks Muted in October
We determined after last month’s filings that Charter was not repurchasing stock in the open market, suggesting they may be involved in a strategic process. As it turns out, they were in discussions to acquire Liberty Broadband (LBRD) with or without GCI (our note on the proposed transaction here). We lowered our expectations for buybacks following the announcement of the deal talks. Advance/Newhouse filed its latest Charter ownership disclosure last night. The buyback amount was almost negligible, and we expect them to repurchase almost nothing for the rest of the quarterCharter Communications is a holding company. Through its subsidiaries, the company is a cable operator and a broadband communications company providing video, Internet and voice services. The company also provides its mobile service to residential customers. In addition, the company sells video and online advertising inventory to local, regional and national advertising customers and communications and managed solutions to enterprise customers. The company also owns and operates regional sports networks and local sports, news and community channels. The company owns and operates a two-way telecommunications network which passes various households and small and medium businesses across United States.
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