ENGLEWOOD, Colo.--( BUSINESS WIRE )--Liberty Broadband Corporation (" Liberty Broadband ") (NASDAQ: LBRDA, LBRDK) and GCI Liberty, Inc. (" GCI Liberty ") (NASDAQ: GLIBA, GLIBP) announced today that they have entered into a definitive merger agreement under which Liberty Broadband has agreed to acquire GCI Liberty in a stock-for-stock merger (the " Combination "). "This process was driven by independent special committees of Liberty Broadband and GCI Liberty, and John Malone and I fully endorse the combination," said Greg Maffei, Liberty Broadband and GCI Liberty President and CEO. "The transaction is financially attractive and beneficial for both companies." Liberty Broadband's businesses consist of its interest in Charter Communications, Inc. (" Charter ") and its subsidiary Skyhook. Liberty Broadband also announced today that its Board of Directors increased its repurchase authorization by $1 billion, bringing total authorization to $1.2 billion.