Liberty Broadband Corporation has announced the record date and distribution date for the spin-off of its wholly owned subsidiary, GCI Liberty, Inc. The record date for the distribution of GCI Group common stock has been declared as 5:00 p.m., New York City time, on June 30, 2025, and the distribution date has been set as 4:30 p.m., New York City time, on July 14, 2025.
In the spin-off, Liberty Broadband will distribute 0.20 of a share of GCI Liberty’s Series A GCI Group common stock, Series B GCI Group common stock, and Series C GCI Group common stock for each whole share of the corresponding series of Liberty Broadband common stock held as of the record date by the holder. Cash will be paid in lieu of fractional shares of GCI Group common stock. Following the spin-off, GCI Liberty will become an independent publicly traded company, initially consisting of 100% of the outstanding equity interests in GCI, LLC and its subsidiaries.
The completion of the spin-off is subject to certain conditions, including the receipt of the Regulatory Commission of Alaska’s final order approving the transfer of an indirect controlling interest in the GCI Liberty licensee subsidiaries, which Liberty Broadband expects to receive by June 27, 2025.
Liberty Broadband expects that the shares of Series A GCI Group common stock and Series C GCI Group common stock will be listed on the NASDAQ Global Select Market under the ticker symbols “GLIBA” and “GLIBK,” respectively, and that the shares of Series B GCI Group common stock will be quoted on the OTC markets under the symbol “GLIBB,” beginning on July 15, 2025.
There is no current trading market for GCI Group common stock, although Liberty Broadband expects that a limited market, commonly known as a “when-issued” trading market, will develop on or shortly before the record date, and that “regular-way” trading of GCI Group common stock will begin on the first trading day after the distribution is completed.
Following the distribution, the number and series of shares of Liberty Broadband common stock owned by holders thereof will not change as a result of the distribution. Liberty Broadband Series A common stock and Liberty Broadband Series C common stock will continue to trade on the NASDAQ Global Select Market under the symbols “LBRDA” and “LBRDK,” respectively, and Liberty Broadband Series B common stock will continue to be quoted on the OTC markets under the symbol “LBRDB,” unless and until the acquisition of Liberty Broadband by Charter Communications, Inc. is consummated. As a result of these announcements, the company's shares have moved 2.5% on the market, and are now trading at a price of $91.46. If you want to know more, read the company's complete 8-K report here.
