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

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 ’ long-awaited deal to buy Liberty Broadband in an all-stock transaction looks like a win for Charter investors. Charter effectively will buy Liberty Broadband, whose main asset is a roughly 26% stake in the country’s second-largest cable company,