John Malone’s Liberty Media Corp (NASDAQ:LMCA) decided to purchased around 27% of Charter Communications Inc. (CHTR) for around $2.62B, betting that the previously bankrupt cable firm can flourish in an era of digital services.
According to a statement on Tuesday, Liberty will give $95.50 per share for around 26.9M shares and 1.1M warrants for Charter’s private-equity investors Apollo Global Management, Oaktree Capital Management, and Crestview Partners. The transaction is anticipated to complete by mid-May.
Liberty’s chairman, Malone stated in the statement that they are pleased with Charter’s market position and growth prospect and consider that the firm’s investments in its high-capacity digital network, which offer digital HD and on- demand television, high-speed data and voice, will profit its customers and shareholders similar.
Shares of Liberty Media Corp (NASDAQ:LMCA) opened at $111.56 with 121.13 million outstanding shares and touch its highest price of $112.49 of the day and then finished at $110.34 by scoring -0.29%, as in the whole session stocks gain volume of 603,347 shares which is higher than its average volume.
As the owner ship concerns stock institutional ownership remained 0.36% while insider ownership included 2.24%. The share capital of LMCA has 121.13 million outstanding shares amid them 109.21 million shares have been floated in market.
For investors focus on the performance of the stocks so the LMCA showed weekly behind performance of -0.33% which was maintained for the month at -0.67%. Correspondingly the year to date performance halted at 1.50%.
As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the LMCA return on investment was recorded as 19.55% as compare to its rivals has CBS Corporation (NYSE:CBS)’s ROI 7.45%, Grupo Televisa SAB (ADR) (NYSE:TV)’s ROI 8.28%, Entravision Communication (NYSE:EVC)’s ROI 0.89%, Scripps Networks Interactive, Inc. (NYSE:SNI)’s ROI 25.16%.
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