Liberty Media Will Pay $2.62 Billion For 27.3% Stake In Charter Communications, America's No. 4 Cable Company

Liberty Media Corp. (Nasdaq: LMCA, LMCB) has invested in a 27.3 percent ownership stake in Charter Communications, Inc. (Nasdaq: CHTR).

Liberty will acquire approximately 26.9 million shares, at $95.50 per share, and approximately 1.1 million warrants in Charter, totaling approximately $2.62 billion.

Liberty plans to fund the purchase with a combination of cash on hand and new loan arrangements.