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.

Charter Communications has sealed a deal to acquire John Malone's Liberty Broadband in the latest media chess move by Malone.