Merger PotentialThe NAV spread has widened materially from the historic 15% level, which is very attractive considering a merger of CHTR/LBRDK is an inevitability around NAV, giving investors a dramatic potential additional return over owning CHTR outright.
Share RepurchasesLiberty Broadband could choose to increase share repurchases of its own shares.
ValuationLiberty Broadband allows investors to effectively buy CHTR shares at an even more attractive ~0.7X EBITDA multiple discount at an implied 6X EBITDA, which appears as one of the least expensive cable/telco U.S. valuations.