I purchased a large amount of $CHTR equity and medium-dated calls this past week Stock is left for dead at $145 Enormous FCF which is inflecting higher as capex declines, $50 per share or more in sight for 2028 Competition is intense but strong wireless upsells provide an offset Debt has average maturity of 12 years with 5.1% avg cost, provides lots of optionality No one wants to own it in front of SpaceX IPO; I view the completion of the IPO as a positive catalyst as overhang is lifted Closing Cox/Liberty deals this summer should be another positive catalyst, helping to de-lever balance sheet Can continue to buyback an enormous amount of stock while also de-levering John Malone has hinted at shifting to paying out dividends, which would be huge catalyst Consolidation remains an
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