Charter Communications has announced a deal to acquire Liberty Broadband as part of an all-stock transaction. Liberty Broadband, which is controlled by American businessman John Malone, owns a 26 percent stake in broadband and cable firm Charter and Alaskan telecommunications subsidiary GCI.

Charter Communications Inc. announced Wednesday an all-stock agreement to buy Liberty Broadband Corp. at better terms than were previously proposed but less than what Liberty had countered with.

Cable TV giant Charter Communications and Liberty Broadband Corp. have entered into a definitive agreement under which Charter has agreed to acquire Liberty Broadband, part of the empire of John Malone, in an all-stock transaction.