Davis Polk is advising Crestview Partners as member of an investor group in connection with the $2.617 billion sale of approximately 26.9 million shares and approximately 1.1 million warrants in Charter Communications, Inc. to Liberty Media Corporation. The investor group includes investment funds managed by, or affiliated with, Apollo Management, Oaktree Capital Management and Crestview Partners. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in the first half of the second quarter of 2013.
Crestview Partners is a value-oriented private equity firm based in New York with approximately $4 billion of capital under management. Charter Communications is a broadband communications company and the fourth-largest cable operator in the United States. Liberty Media owns interests in a broad range of media, communications and entertainment businesses, including its subsidiaries SiriusXM, Atlanta National League Baseball Club and TruePosition, its interests in Live Nation Entertainment and Barnes & Noble, and minority equity investments in Time Warner and Viacom.
The Davis Polk corporate team includes partner Paul R. Kingsley and associate Samuel Burley. Counsel Ann Becchina is providing employee benefits advice. All members of the Davis Polk team are based in the New York office.
