Potter Anderson Serves as Counsel In Connection With $78.7 Billion Acquisition of Time Warner Cable
Potter Anderson served as counsel to Liberty Broadband Corporation in connection with the agreement by Charter Communications to acquire Time Warner Cable. The deal, expected to close by the end of 2015, values Time Warner Cable at $78.7 billion. In connection with the transaction, Liberty Broadband has agreed to purchase, upon closing of the Time Warner Cable transaction, $4.3 billion of newly issued shares of the new public company resulting from the transaction. Liberty Broadband will also acquire $700 million of newly issued shares in connection with a previously announced transaction pursuant to which Charter Communications will acquire Bright House Networks, a subsidiary of Advance/Newhouse. The combination of Charter Communications, Time Warner Cable, and Bright House Networks will create a leading broadband services and technology company servicing 23.9 million customers in 41 states.
The Potter Anderson team was led by partners Michael B. Tumas and Michael K. Reilly, and included associates David B. DiDonato and James P. McMahon.