Company: LBRDK
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001140361-25-000778
Chunk: 655

Company: Liberty Broadband Corp
Filing Date: 2025-01-10
Form: PRER14A
Chunk 655
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 information and data publicly available or provided to or otherwise reviewed by or discussed with us and upon the assurances of the managements of Charter and Liberty Broadband that they are not aware of any relevant information that has been omitted or that remains undisclosed to us. With respect to the information and data relating to Charter and Liberty Broadband, including the Projected Estimates, provided to or otherwise reviewed by or discussed with us, we have been advised by the managements of Charter and Liberty Broadband that such information and data, including the Projected Estimates, were reasonably prepared on bases reflecting the best currently available estimates and judgments of the managements of Charter and Liberty Broadband, as the case may be, as to the matters addressed thereby. We express no view or opinion as to any information or data (or the underlying assumptions on which any such information or data are based), including the Projected Estimates, provided to or otherwise reviewed by or discussed with us.

We have assumed, with your consent, that the Merger will be consummated in accordance with its terms, without waiver, modification or amendment of any material term, condition or agreement and that, in the course of obtaining the necessary regulatory or third party approvals, consents and releases for the Merger, no delay, limitation, restriction or condition will be imposed that would have an adverse effect on Charter, Liberty Broadband or the contemplated benefits of the Merger or that otherwise would be meaningful in any respect to our analyses or opinion. We have further assumed that the GCI Divestiture will be consummated in the manner and on the terms described to us, and accordingly, with your approval, we have not relied on financial analyses to evaluate the GCI Business. In addition, at your direction, for purposes of our analyses and opinion, we have used estimates of value for Liberty Broadband’s interest in comScore, Inc. (based on the cost of the investment) provided to us by Liberty Broadband management. Representatives of Charter have advised us, and we further have assumed, that the final terms of the Merger Agreement will not vary materially from those set forth in the draft reviewed by us. We also have assumed, with your consent, that the Merger will qualify as reorganization within the meaning of Section 368(a) of the Internal Revenue Code of 1986. Our opinion, as set forth herein, relates to the relative values of Charter and Liberty Broadband. We are not expressing any opinion as to what the value of shares of the Charter Class A Common Stock actually will