, Chairman of Oaktree Capital, reduced his Charter Communications
) position as Liberty Media Corporation (
) bought a 23.7% stake of the company at $95.50 per share. With
investment funds managed by Oaktree Capital Management, Apollo
Management and Crestview Partners, Liberty Media acquired 26.9
million shares and 1.1 million warrants in Charter Communications
Inc. for $2.6 billion, representing a 27.3% ownership in Charter,
according to the Denver Business Journal. Liberty Media used $1.2
billion cash and $1.4 billion in margin loans for the purchase,
the company said.
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reduced his position, related to the sale, with Charter
Communications Inc. (
) by 81.86%, as of May 1, 2013. Marks now holds 2,225,882 shares
of CHTR or 2.20% of the company.
The current CHTR share price is $105.03 with a change from
average up 4%. Oaktree's latest trade impacts the portfolio by
Oaktree's trading history shows a 650% gain on over 12 million
CHTR shares bought since the third quarter of 2010, with an
average cost per share at $14.
Up 70% over 12 months, Charter Communications (
) is a leading broadband communications company and the
fourth-largest cable operator in the U.S. Charter has a market
cap of $10.47 billion, a P/B of 71.30 and a P/S of 1.39.
CHTR data by GuruFocus.com
Up 9% over 12 months, Liberty Media Corporation owns interests in
a broad range of media, communications and entertainment
businesses. Liberty Media has a market cap of $14.25 billion and
a P/S of 7.40.
LMCA data by GuruFocus.com
Chairman of Oaktree Capital since its formation in 1995, Howard
Marks has been responsible for ensuring the firm's adherence to
its core investment philosophy, communicating closely with
clients and managing the firm. Oaktree Capital's updated
portfolio lists 53 stocks and a total value of $2.4 billion and a
quarter-over-quarter turnover of 10%.
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