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                            <title><![CDATA[ Latest from Next TV in Tracking-stocks ]]></title>
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        <description><![CDATA[ All the latest tracking-stocks content from the Next TV team ]]></description>
                                    <lastBuildDate>Tue, 04 Nov 2014 00:45:00 +0000</lastBuildDate>
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                                                            <title><![CDATA[ Liberty Broadband Begins When Issued Trading Nov. 4 ]]></title>
                                                                                                                                                                                                <link>https://www.nexttv.com/news/liberty-broadband-begins-when-issued-trading-nov-4-385279</link>
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                            <![CDATA[ Liberty Broadband Begins When Issued Trading Nov. 4 ]]>
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                                                                        <pubDate>Tue, 04 Nov 2014 00:45:00 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[Charter Communications]]></category>
                                                    <category><![CDATA[Liberty Broadband]]></category>
                                                    <category><![CDATA[Liberty Global]]></category>
                                                    <category><![CDATA[tracking stocks]]></category>
                                                                                                                    <dc:creator><![CDATA[ Mike Farrell ]]></dc:creator>                                                                                                                                                                                                                                                                    <media:content type="image/jpeg" url="https://cdn.mos.cms.futurecdn.net/pkANPeHHz6QyM3oouZH89n-1280-80.jpg">
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                                <figure class="van-image-figure pull-" data-bordeaux-image-check ><div class='image-full-width-wrapper'><div class='image-widthsetter' ><p class="vanilla-image-block" style="padding-top:56.25%;"><img id="pkANPeHHz6QyM3oouZH89n" name="" alt="" src="https://cdn.mos.cms.futurecdn.net/pkANPeHHz6QyM3oouZH89n.jpg" mos="https://cdn.mos.cms.futurecdn.net/pkANPeHHz6QyM3oouZH89n.jpg" align="" fullscreen="" width="" height="" attribution="" endorsement="" class="pull-"></p></div></div></figure><p>Liberty Broadband, the tracking stock that will include Liberty Media’s 27% interest in Charter Communications, will officially hit the street on Nov. 4 at 5 p.m., when it begins when-issued trading, the company said in a statement Monday.</p><p>According to Liberty, shares of Liberty Broadband’s Series A and Series C common stock will trade on a when-issued basis on the Nasdaq Global Select Market under the symbols “LBDAV” and “LBDKV”, respectively, on Nov. 4. In addition, Liberty Media expects Liberty Broadband’s Series B common stock to be quoted on a when-issued basis on the OTC Markets under the symbol “LBDBV” on Nov. 4.</p><p>Liberty Media said last month that it would issue the tracker, which will house its Charter interest, 100% of global positioning satellite company TruePosition and minority interests in Time Warner Cable and about $320 million in debt.<a href="https://www.nexttv.com/news/liberty-media-create-two-new-tracking-stocks-338008" data-original-url="https://www.multichannel.com/news/liberty-media-create-two-new-tracking-stocks-338008">It first announced its intention to create the tracker in </a><a href="https://www.nexttv.com/news/liberty-media-create-two-new-tracking-stocks-338008" data-original-url="https://www.multichannel.com/news/liberty-media-create-two-new-tracking-stocks-338008">March</a>.</p><p>The Liberty Broadband tracker will be the third tracker issued by Liberty Media this year – in <a href="https://www.nexttv.com/news/liberty-interactive-spin-leaves-shopping-alone-384664" data-original-url="https://www.multichannel.com/news/liberty-interactive-spin-leaves-shopping-alone-384664">October it split Liberty Interactive i</a>nto QVC Group (housing its QVC Inc. shopping channel and other assets) and Liberty Ventures (including its e-commerce companies) and later in the month said its Liberty Global would create a <a href="https://www.nexttv.com/news/liberty-global-establish-latin-american-tracker-384978" data-original-url="https://www.multichannel.com/news/liberty-global-establish-latin-american-tracker-384978">tracker for its Latin American assets</a>.</p><p>Liberty Broadband shares will be distributed as a dividend at 5 p.m., on Nov. 4, to holders of Liberty Media common stock. Liberty Media expects that Liberty Broadband’s Series A and Series C common stock will begin trading in the regular way on the NASDAQ Global Select Market under the symbols “LBRDA” and “LBRDK”, respectively, and that Liberty Broadband’s Series B common stock will begin quotation in the regular way on the OTC Markets under the symbol “LBRDB,” beginning on Nov. 5.</p><p>In a note to clients Monday Evercore ISI media analysts Vijay Jayant and David Joyce estimated Liberty Broadband’s 88 million shares would be valued at about $4.6 billion, or about $53 per share before a planned subscription rights offering in December. That rights offering could increase the total share count of the tracker to about 105 million and raise about $740 million, according to the analysts.</p><p>After the rights offer, Jayant and Joyce estimate Liberty Broadband will trade at about $51 per share.</p>
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