/// Malone’s Liberty Media Snaps Up Charter Stake
The cable pioneer who Al Gore once referred to as “Darth Vader” has fired up the tractor beam, as John Malone’s Liberty Media has snared a significant stake in Charter Communications. Liberty on Tuesday announced it would purchase 27 percent of Charter for $2.62 billion, or around $95.50 a share. Malone’s company is buying the Charter stock from the three private-equity firms that hold the strings at the MSO: Apollo Management, Oaktree Capital Management and Crestview Partners. The deal is expected to close early in the second quarter of 2013. Per terms of the deal, Liberty will nominate four executives to the Charter board of directors. The roster of obvious candidates includes Malone and Liberty president and CEO Gregory Maffei. Charter provides video service to some 4.2 million subscribers, according to the National Cable & Telecommunications Association.
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Malone’s Liberty Media Snaps Up Charter Stake