Item 7.01. Regulation FD Disclosure.
On November 17, 2020, GCI Liberty, Inc. (the "Company") issued a press release
(the "Press Release") announcing, among other things, that it has agreed to sell
its stake of LendingTree, Inc. ("LendingTree").
The disclosure in Item 7.01 of this Current Report on Form 8-K and the press
release attached hereto as Exhibit 99.1 are being furnished to the Securities
and Exchange Commission in satisfaction of the public disclosure requirements of
Regulation FD and shall not be deemed "filed" for any purpose.
Item 8.01. Other Events.
As part of the Press Release, the Company included the following disclosure (the
"Disclosure") relating to a proposed transaction between the Company and Liberty
Broadband Corporation:
On November 17, 2020, the Company announced that it has agreed to sell its stake
of LendingTree and agreed to unwind its forward sale contract on LendingTree
shares. The gross proceeds of the sale are expected to be $1,007 million. The
Company intends to use the proceeds from the sale to pay costs related to
unwinding the forward sale contract and for other general corporate purposes
that could include debt reduction at the Company and share repurchases
post-closing of the planned merger with Liberty Broadband Corporation. The
closing of the sale of the LendingTree shares is expected to occur on November
18, 2020.
The Disclosure, which is archived on the Company's website as part of the Press
Release, is being filed herewith under this Item 8.01 in compliance with Rule
14a-12 of the Securities Exchange Act of 1934, as amended.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release, dated November 17, 2020.
Cover Page Interactive Data File (formatted as Inline XBRL and
104 contained in Exhibit 101).
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