Liberty Broadband (LBRDA, Financial)
Liberty Broadband owns GCI, the primary cable provider in Alaska, and a 30.3% stake in Charter Communications. We believe that Liberty Broadband is trading at a material discount to its asset value today and that, by owning the shares, we are effectively recreating our Charter position at a discount. Liberty’s management team is taking advantage of this discount by repurchasing shares, and we would not be surprised to see the discount ultimately reduced or eliminated through a transaction with Charter.
From Bill Nygren (Trades, Portfolio)'s Oakmark Select Fund fourth-quarter 2022 commentary.
