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.
Malik Singleton covers manufacturing and other economic news. His previous roles were with City Limits, TIME.com, Black Enterprise and PCMag.com. He is an adjunct at CUNY's...