{ "schemaVersion": "deck-intelligence.v1", "id": "019de070-1e66-763e-aca2-f25d3f6f8200", "slug": "8cd98377008c7cf250dd0087bfdb4c7a", "title": "Evercore | Investment Banking Pitch Book | 54 slides", "subtitle": "Evercore · 2020-06", "author": "Evercore", "date": "2020-06-01 00:00:00", "pageCount": 54, "kind": "consulting-deck", "orientation": "landscape", "aspectRatio": 1.2938006, "document": { "id": "019de070-1e66-763e-aca2-f25d3f6f8200", "slug": "8cd98377008c7cf250dd0087bfdb4c7a", "title": "Evercore | Investment Banking Pitch Book | 54 slides", "rawTitle": "Evercore | Investment Banking Pitch Book | 54 slides", "authorId": "evercore", "authorName": "Evercore", "authorDisplay": "Evercore", "kind": { "slug": "consulting-deck", "label": "Consulting deck" }, "sourceType": { "slug": "investment_bank", "label": "Investment bank" }, "fileName": "2020-06__evercore__ib-pitchbook__8cd98377.pdf", "sourceUrl": "https://www.slidebook.io/company/evercore/presentation/8cd98377008c7cf250dd0087bfdb4c7a/", "sourceDate": "2020-06-29 00:00:00", "presentationDate": "2020-06-01 00:00:00", "ingestedAt": "2026-04-30 22:08:57.550085+00", "status": "ready", "pageCount": 54, "orientation": "landscape", "aspectRatio": 1.2938006, "targetCompany": null, "targetTicker": null, "metadata": { "corpus": "slidebook", "industry": "capital-markets", "local_root": "/Users/miguelsuredasuau/Desktop/lalalalla/_scrape/slidebook/decks/2020-06__evercore__ib-pitchbook__8cd98377", "image_width": 1920, "image_format": "jpg", "deck_type_raw": "Investment Banking Pitch Book", "deck_type_slug": null, "source_url_pattern": "https://www.slidebook.io/company/{company_slug}/presentation/{deck_id}/" } }, "coverage": { "pageCount": 54, "pagesIndexed": 54, "pagesWithImages": 54, "pagesWithMetadata": 54, "imageCoveragePct": 100, "metadataCoveragePct": 100, "componentCount": 235, "chartCount": 26, "metricSlides": 0, "toolMatches": 31, "documentToolMatches": 0, "frameworkMatches": 6, "arcMatches": 0, "beatMatches": 0, "loopMatches": 0, "patternMatches": 0, "storymakersMatch": false, "scoreAvailable": true, "reviewAvailable": false, "activistThesisAvailable": false, "pitchdeckMetadataAvailable": false, "pitchdeckProfileAvailable": false }, "blocks": [], "matches": { "arcs": [], "beats": [], "loops": [], "tools": [ { "tool": { "name": "Slide recipe: Cover", "slug": "cover-slide", "status": "active", "bestFor": null, "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3", "version": 1, "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65", "description": "The first ten seconds. Build it deliberately.", "familyLabel": "slide-recipe", "categoryName": "Slide", "categorySlug": "slide" }, "agent": "designer", "layer": "slide", "agents": [ "designer" ], "matchId": "66daece1-0071-411c-805c-73b2ba24bfb0", "evidence": "Presentation to the Special Committee title slide", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:38.325319+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 1, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Section divider", "slug": "section-divider", "status": "active", "bestFor": null, "canonId": "019dd9e1-4c66-707d-8d1f-6e14547134c7", "version": 1, "bodyDocId": null, "description": "A transitional slide marking the start of a new section.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "fb13b0db-fe8c-4a57-bac4-570c45ef807e", "evidence": "Section divider slide", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:38.484952+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 4, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Executive summary", "slug": "executive-summary", "status": "active", "bestFor": null, "canonId": "019dd9e1-4b63-72d5-9734-da757d91ca61", "version": 1, "bodyDocId": null, "description": "A condensed view of the entire argument on a single slide / block.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "9caafbb4-29ec-47a2-8442-69f7c9785083", "evidence": "This slide is titled 'Summary of Liberty Broadband's Revised Proposal to GCI Liberty' and contains a table with proposal details, indicating an executive summary.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:38.632591+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 5, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Sum of parts", "slug": "sum-of-parts", "status": "active", "bestFor": "For breakup / spin-off theses", "canonId": "019dd9e1-51e5-73ad-9d1e-e77d4afe3125", "version": 1, "bodyDocId": "019df22a-9ecd-71db-8fa1-5f5eff36697f", "description": "You break the target into its constituent businesses or asset classes, value\neach separately against its own peer set, and show that the total is\nmaterially greater than the current market capitalisation. The \"gap\" is the\nconglomerate discount — or worse, accounting opacity hiding a crown-jewel\nasset.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "9a6a198b-4deb-41cc-bd77-1a43014079e1", "evidence": "The slide includes tables for publicly traded securities, financial assets, and private assets.", "pageRefs": null, "priority": null, "whenToUse": "For breakup / spin-off theses", "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:39.12039+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 16, "whyItWorks": "- It forces the market to confront **mismatched valuation multiples**:\n \"this company trades like X but owns Y, which trades at", "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "NxN matrix", "slug": "matrix-nxn", "status": "active", "bestFor": null, "canonId": "019de52d-2313-71fa-bb45-a7d1a4aae23a", "version": 1, "bodyDocId": null, "description": null, "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "9648160a-2169-4e12-bb5e-3a89b2f39ea4", "evidence": "Financial Summary table with multiple rows and columns.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:38.19784+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 17, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "33a27f79-450a-4eff-b0c3-7193cba865af", "evidence": "Financial Summary table with rows for Revenue Breakdown, Gross Margin, Adj. EBITDA, Capex, and Adj. EBITDA - Capex across 2019A-2023E.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:38.157218+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 17, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "1dbacc01-c4c6-409c-ac45-f4a75173de93", "evidence": "table/data: Historical and projected corporate expenses from 2018A to 2023E, including allocations, stock-based compensation, and tax impacts.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 03:30:54.33129+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 20, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "6c76453f-4fe9-4a5c-80bd-5c0316c9dd68", "evidence": "table/data: LBRD Total Enterprise Value table including share price, diluted shares, equity value, debt, cash, and total enterprise value.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 03:30:54.39434+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 22, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "ec3c35e4-f481-485b-93da-c0844c8c38ca", "evidence": "table/data: Historical and projected corporate expenses (2018A-2023E) and NPV calculation table.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 03:30:54.489503+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 26, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Valuation: DCF", "slug": "dcf", "status": "active", "bestFor": null, "canonId": "019df269-2031-7273-9014-0c70beb91e11", "version": 1, "bodyDocId": "019df269-200e-76ea-8883-6ee35d39c836", "description": "You project free cash flows over an explicit forecast period (typically", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "4b1c95c0-1a3d-4315-91f6-09280f427f88", "evidence": "Adjusted for LendingTree's $198mm tax leakage and LBRD's $773mm tax leakage", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:39.771508+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 29, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Valuation: LBO math", "slug": "lbo-math", "status": "active", "bestFor": null, "canonId": "019df269-212c-732d-a38c-b9513acf723c", "version": 1, "bodyDocId": "019df269-2109-77fd-9ee6-fbbecf40d439", "description": "You model the target as if a private equity buyer were acquiring it,", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "8a7ebf5b-f65c-485a-8a5d-e2eee0b33a64", "evidence": "GLIB NAV Analysis with LBRD Shares Valued Based on Trading Value and Charter Shares Valued at Look-through Price within LBRD", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:39.811354+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 29, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Valuation: Multiple comparison", "slug": "multiple-comparison", "status": "active", "bestFor": null, "canonId": "019df269-21df-706e-8bc6-ad549df92fc6", "version": 1, "bodyDocId": "019df269-21bc-702f-8c5b-59445cace7cd", "description": "You apply a peer-derived multiple (EV/EBITDA, P/E, EV/Sales, P/NAV) to the", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "bec866fc-c68c-4b8a-9ab5-4a13abb491f3", "evidence": "Valued Based on Trading Value and Charter Shares Valued at Look-through Price within LBRD", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:39.849688+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 29, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Valuation: DCF", "slug": "dcf", "status": "active", "bestFor": null, "canonId": "019df269-2031-7273-9014-0c70beb91e11", "version": 1, "bodyDocId": "019df269-200e-76ea-8883-6ee35d39c836", "description": "You project free cash flows over an explicit forecast period (typically", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "3d0b6cc5-d74a-47bc-9658-ea5c505b62e2", "evidence": "Assumes the mid-point of Skyhook's value based on DCF analysis with terminal range of 1.5x to 3.5x", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:39.92354+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 30, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "18a96608-20b9-49e4-a7e0-99bd89bd9fa7", "evidence": "table/data: Potential Tax Leakage for GLIB Securities table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 03:30:54.583953+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 31, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "1b8ab8d4-df35-4a44-be2e-70403b4f4c0e", "evidence": "Financial table with rows for Revenue, Expenses, EBITDA, D&A, Capex, LFCF, and Net Debt across 2019A-2023E", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:40.039885+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 33, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "2x2 matrix", "slug": "matrix-2x2", "status": "active", "bestFor": null, "canonId": "019dd9e1-50ab-72d1-8afb-3ab0a38e32a8", "version": 1, "bodyDocId": null, "description": "BCG matrix, importance/urgency, any axes-and-quadrants frame.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "c43c93bd-22a2-4729-ba2c-9644ee5d71b5", "evidence": "Wireless 2019 EBITDA Margin, Data 2019 EBITDA Margin", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.5, "extraction": { "at": "2026-07-16 23:28:40.151637+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 35, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "a75b512c-0df1-4568-b57a-24ac8747a14d", "evidence": "table/data: FBN, EV / Estimated EBITDA, $304, 8.0x, $2,434; Evercore ISI, EV / 2020E EBITDA, $278, 8.0x, $2,225; Pivotal, 15% discount to Liberty purchase price, N/A, N/A, $2,278", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 03:30:54.647315+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 36, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Audience Definition", "slug": "audience-definition", "status": "active", "bestFor": null, "canonId": "019dd956-7f2a-775d-aeee-ff099bcb7756", "version": 1, "bodyDocId": null, "description": "Six key questions: Who are they? What do they know? What do they believe? What do they care about? What do they fear? What decisions can they make?", "familyLabel": null, "categoryName": "Block", "categorySlug": "block" }, "agent": "Storyteller", "layer": "slide", "agents": [ "Storyteller" ], "matchId": "79f7d2a0-ee5e-4110-a72b-45d94481796b", "evidence": "Transaction Overview – Expedia Group / Liberty Expedia, indicating a focus on stakeholders involved in the transaction.", "pageRefs": null, "priority": "Core", "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-17 03:31:01.903022+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 37, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "0286947d-387d-4e2c-992a-2655f1063a91", "evidence": "Derivation of Implied Expedia Group Discount within Liberty Expedia table, Key Transaction Statistics table, Implied Discount Analysis table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:40.226212+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 38, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "bfb18424-b6d1-4dd0-af40-c8004d6342df", "evidence": "components: table/data: Company, Share Price 6/26/20, Market Equity Value, Total Enterprise Value, TEV/Revenue 2020E, TEV/Revenue 2021E, Revenue Growth '20-'21", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.006334+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 41, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "ce6c6ec7-d288-4bd7-9af6-67cd31574c42", "evidence": "components: table/data: Table of 8 transactions with columns: Date, Acquiror, Target, Total Enterprise Value, TEV/LTM EBITDA (Pre-SBC), TEV/LTM EBITDA (Post-SBC)", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.129952+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 43, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "66af9451-ebab-4838-bc9d-38f671971b00", "evidence": "components: table/data: Table of 10 transactions with columns: Date Announced, Acquiror, Target, Total Enterprise Value ($mm), TEV/LTM EBITDA (Pre-SBC), TEV/LTM EBITDA (Post-SBC)", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.209513+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 44, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Valuation: DCF", "slug": "dcf", "status": "active", "bestFor": null, "canonId": "019df269-2031-7273-9014-0c70beb91e11", "version": 1, "bodyDocId": "019df269-200e-76ea-8883-6ee35d39c836", "description": "You project free cash flows over an explicit forecast period (typically", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "6742c904-bc11-4bbd-92b5-7d9dd21ba092", "evidence": "components: table/valuation: DCF projection table showing Revenue, EBITDA, EBIT, NOPAT, and Unlevered FCF from Q1'20A through 2023E and Terminal year.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.290807+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 45, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "89477b80-5052-4d40-ba26-facf8e5e8dcb", "evidence": "components: table/valuation: GLIB NOL Valuation table with rows for Federal and State NOLs, benefits, and NPV calculations.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.372626+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 46, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "dd48f8fc-e5d8-42eb-be2b-77cf98b31fe5", "evidence": "components: table/valuation: Detailed table showing Federal and State NOL utilization, tax benefits, and NPV calculations across years 2020E-2027E.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.452162+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 47, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Valuation: DCF", "slug": "dcf", "status": "active", "bestFor": null, "canonId": "019df269-2031-7273-9014-0c70beb91e11", "version": 1, "bodyDocId": "019df269-200e-76ea-8883-6ee35d39c836", "description": "You project free cash flows over an explicit forecast period (typically", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "d6c1880a-ab8f-4100-89e5-340f0007a90a", "evidence": "components: table/valuation: DCF projection table showing revenue, EBITDA, EBIT, NOPAT, and Unlevered FCF from Q1'20A through Terminal year.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.535251+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 48, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "f3bec11d-9dcd-453d-93d6-8f6dc07688cc", "evidence": "components: table/valuation: EBT (Pre-NOL) $2,811 $4,837 Less: NOL Usage (2,811) (3,770) EBT (Post NOL) $ - $1,067 NOLs Beg. of Period $6,581 $3,770 Plus: Accumulation - - Less: Usage (2,811) (3,770) End of Period $3,770 $ - Tax Ben", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.615744+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 49, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "4ec24301-a4bb-4bb1-a479-8350c0acbd96", "evidence": "components: table/data: Table of share prices for LBRDK, GLIBA, and LTREE across various time intervals.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.697099+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 50, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "89e5d18f-9dea-423e-b3f1-a1b95bc862c0", "evidence": "components: table/data: Peer company financial data including share price, market equity, debt, and beta metrics.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.778226+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 51, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "711ed136-010d-459f-aefd-9d235f04905a", "evidence": "components: table/data: Peer company market data table including share price, market equity value, debt, preferred stock, debt+preferred/capital, and adjusted/unlevered beta.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.860953+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 52, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Valuation: DCF", "slug": "dcf", "status": "active", "bestFor": null, "canonId": "019df269-2031-7273-9014-0c70beb91e11", "version": 1, "bodyDocId": "019df269-200e-76ea-8883-6ee35d39c836", "description": "You project free cash flows over an explicit forecast period (typically", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "f849cc42-947e-4ede-95d6-3677f96f2608", "evidence": "Bottoms Up WACC calculation table showing cost of equity and target debt/capital assumptions.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:41.655279+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 53, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "ba734587-60ae-4dfe-a7dc-325348a1ca57", "evidence": "Comparison of Trading Analysis, Precedent Transactions, and DCF", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 14:05:03.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 18, "frameworkName": "valuation-methodology" }, { "matchId": "484473c0-b657-40bd-84cc-f9d3b3866630", "evidence": "The slide explicitly presents a DCF-based valuation model.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:05:03.015+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 19, "frameworkName": "Discounted Cash Flow" }, { "matchId": "a2a7ec6f-10b8-4aa9-9d4f-64c690827bb5", "evidence": "Comparison of multiple valuation methodologies against current market price.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 14:05:03.531+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 25, "frameworkName": "valuation-analysis" }, { "matchId": "7e608cba-7d6a-42fc-80c1-6d7c528b49a5", "evidence": "The slide explicitly contrasts 'Pre-transaction Structure' with 'Pro Forma Structure'.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:05:06.856+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 37, "frameworkName": "before-after-framing" }, { "matchId": "b0def3e5-8b59-4885-b89a-f0d3a1193c47", "evidence": "Standard discounted cash flow model structure", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:05:08.093+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 45, "frameworkName": "DCF Valuation" }, { "matchId": "b7c02af9-c761-47d2-9c55-358dcbde4e7f", "evidence": "Bottoms up WACC calculation table", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:05:07.911+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 53, "frameworkName": "WACC Calculation" } ], "patterns": [] }, "storymakers": null, "score": { "backend": "codex", "scoredAt": "2026-05-03 00:11:14.607+00", "subScores": { "scqa_arc": 48, "action_titles": 24, "mece_structure": 74, "closing_strength": 16, "evidence_quality": 91, "clarity_of_thesis": 48, "production_quality": 71, "visual_storytelling": 76 }, "totalScore": 56, "coveragePct": 100, "explanations": { "scqa_arc": "Slides 5-13 imply the transaction situation and evaluation question, but the deck then follows a valuation workstream sequence rather than a clear Situation-Complication-Question-Answer arc.", "action_titles": "Most titles are topic labels rather than insight-bearing sentences; for example, slide 18's \"GCI Valuation Analysis\" names the analysis without stating the valuation implication.", "mece_structure": "The core structure separates transaction proposal, GLIB analysis, and LBRD analysis across slides 5-27, but appendix pages repeat core analyses such as the exchange ratio on slide 32 after slide 10.", "closing_strength": "The deck ends with Charter WACC support on slide 54 rather than a recommendation, decision page, call to action, or next-step plan.", "evidence_quality": "Evidence is strong, with proposal tables, market performance charts, SOTP and DCF models, peer and precedent benchmarks, WACC support, and footnotes across slides 5-54.", "clarity_of_thesis": "The purpose is identifiable by slide 5 through the revised proposal summary, but the first five slides do not state a declarative thesis or recommendation.", "production_quality": "Production is consistent and footnoted across the banking analyses, but low action-title density and repetitive dense tables on slides 6-12 and 45-54 reduce Storymakers polish.", "visual_storytelling": "The deck generally uses appropriate banking tools, including ownership diagrams on slides 15 and 22, valuation range charts on slides 18 and 25, and DCF/sensitivity tables on slides 45-54, though heavy tables limit narrative emphasis." }, "slidesAnalyzed": 54 }, "review": null, "activistThesis": null, "pitchdeck": { "metadata": null, "profile": null }, "slides": [ { "page": 1, "type": "setup", "function": "front_matter", "imagePath": "https://imgproxy.kitesheet.com/wgwjtQYzvfwScO7XcCc4XtLiR1qj9lRJ46CeespJ9AI/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84Y2Q5ODM3NzAwOGM3Y2YyNTBkZDAwODdiZmRiNGM3YS9wMDAxLmpwZw", "rawType": "cover", "block": null, "metadata": { "slideType": "cover", "slideTypeCanon": { "name": "Cover", "slug": "cover", "status": "active", "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 18, "componentCount": 5, "textChars": 81, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:04:59.958+00", "seconds": 2.627, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/1", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-1", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.015, "w": 0.085, "x": 0.875, "y": 0.03 }, "kind": "disclaimer", "text": "Confidential", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.958+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3a013897-9662-4939-9ded-3bba971c42a1", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.205, "x": 0.077, "y": 0.875 }, "kind": "image", "text": "Evercore", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.958+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "da76fd40-e017-4fba-8a0d-4ec4d5fdeab5", "parentComponentId": null }, { "bbox": { "h": 0.17, "w": 0.17, "x": 0.077, "y": 0.355 }, "kind": "image", "text": "GCI Liberty", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.958+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f3decd8e-1fe0-4b1e-ae24-3a46970c0ec3", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.125, "x": 0.077, "y": 0.57 }, "kind": "paragraph", "text": "June 29, 2020", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.958+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ae3536be-e25d-4c0b-9392-29b5e85e5c79", "parentComponentId": null }, { "bbox": { "h": 0.025, "w": 0.492, "x": 0.077, "y": 0.515 }, "kind": "title", "text": "Presentation to the Special Committee", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.958+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "72320ef7-9ace-41e8-aae4-ab9eed3ded1f", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Slide recipe: Cover", "slug": "cover-slide", "status": "active", "bestFor": null, "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3", "version": 1, "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65", "description": "The first ten seconds. Build it deliberately.", "familyLabel": "slide-recipe", "categoryName": "Slide", "categorySlug": "slide" }, "agent": "designer", "layer": "slide", "agents": [ "designer" ], "matchId": "66daece1-0071-411c-805c-73b2ba24bfb0", "evidence": "Presentation to the Special Committee title slide", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:38.325319+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 1, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "thumbSrc": "https://imgproxy.kitesheet.com/6lqDtY5tU3v9XK1BnIBkHEaXc5bel4shLF0pzmWGG5I/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84Y2Q5ODM3NzAwOGM3Y2YyNTBkZDAwODdiZmRiNGM3YS9wMDAxLmpwZw", "imagePathAlt": "https://imgproxy.kitesheet.com/j5iyltKqHM0kyUzxw3aJzAHe68b30nJU-KMWmgzoCko/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84Y2Q5ODM3NzAwOGM3Y2YyNTBkZDAwODdiZmRiNGM3YS9wMDAxLnBuZw", "thumbSrcAlt": "https://imgproxy.kitesheet.com/W3sPKCS-EFsSN9KMICi9VSu5PMTGOL7UfpSva6r9shs/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84Y2Q5ODM3NzAwOGM3Y2YyNTBkZDAwODdiZmRiNGM3YS9wMDAxLnBuZw" }, { "page": 2, "type": "setup", "function": "front_matter", "rawType": "disclaimer", "block": null, "metadata": { "slideType": "disclaimer", "slideTypeCanon": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "019de52d-0801-727b-b98a-5ed095aeee78", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 13, "componentCount": 3, "textChars": 221, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:04:59.764+00", "seconds": 2.272, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/2", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-2", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.65, "w": 0.84, "x": 0.08, "y": 0.18 }, "kind": "disclaimer", "text": "These materials have been prepared by Evercore Group L.L.C. (\"Evercore\") for the Special Committee of the Board of Directors (the \"Committee\") of GCI Liberty, Inc. (\"GLIB\" or the \"Company\")...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.764+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1f68f3e6-8dd1-4e4f-b88e-138d91675da3", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.1, "x": 0.08, "y": 0.92 }, "kind": "image", "text": "Evercore logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.764+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a4420332-34a4-4af0-9f39-79057dfe90e8", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.05, "x": 0.91, "y": 0.91 }, "kind": "image", "text": "GCI Liberty logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.764+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c0e1da45-652a-4063-bc10-79a864ede798", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 3, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 10, "componentCount": 3, "textChars": 147, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:11.126+00", "seconds": 13.555, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/3", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-3", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.01, "x": 0.708, "y": 0.235 }, "kind": "list", "text": "I\nII\nIII", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:11.126+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0f0b7d78-a459-4024-b88f-ab59879ec44a", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.38, "x": 0.044, "y": 0.235 }, "kind": "list", "text": "Transaction Proposal Preliminary Analysis\nGLIB Preliminary Financial Analysis\nLBRD Preliminary Financial Analysis\nAppendix", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:11.126+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ab0af096-ac95-4261-9480-1254be51884e", "parentComponentId": null }, { "bbox": { "h": 0.025, "w": 0.155, "x": 0.044, "y": 0.085 }, "kind": "title", "text": "Table of Contents", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:11.126+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d19b89bf-b14c-498e-9071-d4e73068ae80", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 4, "type": "setup", "function": "transition", "rawType": "section_divider", "block": null, "metadata": { "slideType": "section_divider", "slideTypeCanon": { "name": "Section divider", "slug": "section_divider", "status": "active", "canonId": "019de52d-066a-7402-9554-6ae504999041", "version": 1, "description": null }, "function": "transition", "functionCanon": { "name": "Transition", "slug": "transition", "status": "active", "canonId": "019de52d-1365-7149-92aa-66df859e75fd", "version": 1, "description": null }, "density": "sparse", "densityScore": 7, "componentCount": 3, "textChars": 64, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:04:59.642+00", "seconds": 1.999, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/4", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-4", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.08, "x": 0.87, "y": 0.02 }, "kind": "disclaimer", "text": "Confidential", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.642+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d082aca7-bd63-4c27-a00a-5690faad9c8b", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.1, "x": 0.07, "y": 0.88 }, "kind": "image", "text": "EVERCORE", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.642+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e4e846ba-f093-4bda-a496-9365754c6d77", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.65, "x": 0.07, "y": 0.43 }, "kind": "title", "text": "I. Transaction Proposal Preliminary Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:04:59.642+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "89cf88ff-2c5a-4562-ae7d-ba726a3fb5a5", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Section divider", "slug": "section-divider", "status": "active", "bestFor": null, "canonId": "019dd9e1-4c66-707d-8d1f-6e14547134c7", "version": 1, "bodyDocId": null, "description": "A transitional slide marking the start of a new section.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "fb13b0db-fe8c-4a57-bac4-570c45ef807e", "evidence": "Section divider slide", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:38.484952+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 4, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 5, "type": "setup", "title": "Includes footnotes detailing specific ownership and voting interest calculations.", "function": "summarize", "rawType": "executive_summary", "block": null, "metadata": { "slideType": "executive_summary", "slideTypeCanon": { "name": "Executive summary", "slug": "executive_summary", "status": "active", "canonId": "019de52d-06be-73ff-81b3-f99fe7f0025e", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "balanced", "densityScore": 34, "componentCount": 4, "textChars": 416, "nDataPoints": 15, "notes": "Includes footnotes detailing specific ownership and voting interest calculations.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:00.229+00", "seconds": 2.547, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/5", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-5", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.6, "x": 0.05, "y": 0.12 }, "kind": "paragraph", "text": "Proposal was received from Liberty Broadband on 6/28/20 and statistics are as of 6/26/20", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c8eabe0f-dcb5-423f-be0b-a9cdc55bd2b0", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "1. Average daily trading volume... 2. At present, it is contemplated that Mr. Malone would agree to receive shares...", "attrs": { "numbered": true }, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "eec598a6-4367-4697-9961-2e37226f607f", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.9, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Terms and Details table covering Exchange Ratio, Form of Consideration, Implied Price, Implied Premium, Implied Ownership, and Preferred Stock terms.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e5998e3b-997d-497b-b3e6-27fee97db986", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.6, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Summary of Liberty Broadband's Revised Proposal to GCI Liberty", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9b315728-fa8b-428f-abdf-8ee92c27517e", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Executive summary", "slug": "executive-summary", "status": "active", "bestFor": null, "canonId": "019dd9e1-4b63-72d5-9734-da757d91ca61", "version": 1, "bodyDocId": null, "description": "A condensed view of the entire argument on a single slide / block.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "9caafbb4-29ec-47a2-8442-69f7c9785083", "evidence": "This slide is titled 'Summary of Liberty Broadband's Revised Proposal to GCI Liberty' and contains a table with proposal details, indicating an executive summary.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:38.632591+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 5, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 6, "type": "analysis", "title": "Includes footnotes detailing calculation methodologies and source data.", "function": "analyze_data", "rawType": "data_table", "block": null, "metadata": { "slideType": "data_table", "slideTypeCanon": { "name": "Data table", "slug": "data_table", "status": "active", "canonId": "019de52d-0bbd-71b9-9918-417f904abbf8", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 36, "componentCount": 4, "textChars": 420, "nDataPoints": 100, "notes": "Includes footnotes detailing calculation methodologies and source data.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:00.621+00", "seconds": 2.868, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/6", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-6", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.12, "x": 0.85, "y": 0.3 }, "kind": "callout", "text": "0.5800 LBRD Series C shares (non-voting) for 1 GLIB Series A (1 vote); 0.5800 LBRD Series B (10 votes) for 1 GLIB Series B (10 votes). Details on Page 3", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.621+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1a04e642-d59f-4143-b33b-46bffae91510", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.92, "x": 0.04, "y": 0.84 }, "kind": "disclaimer", "text": "Source: Factset (6/26/20). Footnotes 1-5 detailing calculation methods and data sources.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.621+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "194955c1-0a04-43a8-941f-c74b607e0bef", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.92, "x": 0.04, "y": 0.18 }, "kind": "table", "text": "Table comparing LBRD and GLIB proposals across various financial metrics including share prices, exchange ratios, premiums, and ownership percentages.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.621+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "275df4a5-c007-46de-87f0-08e3d07246c9", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.35, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "Project Lotus Proposal Summary", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.621+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7130e34a-d3f1-47b6-9da7-d5fb275a3fa8", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 7, "type": "analysis", "title": "Includes detailed footnotes regarding calculation methodology for FDSO and voting interest.", "function": "analyze_data", "rawType": "data_table", "block": null, "metadata": { "slideType": "data_table", "slideTypeCanon": { "name": "Data table", "slug": "data_table", "status": "active", "canonId": "019de52d-0bbd-71b9-9918-417f904abbf8", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 25, "componentCount": 3, "textChars": 317, "nDataPoints": 22, "notes": "Includes detailed footnotes regarding calculation methodology for FDSO and voting interest.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:00.872+00", "seconds": 3.034, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/7", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-7", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.6, "x": 0.05, "y": 0.8 }, "kind": "source-note", "text": "Source: Factset (6/26/20). Note: Voting interest assumes exercise of all stock options by Liberty Management.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.872+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "eb39509c-d06b-44be-a576-cbc6f1c63d44", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "GLIB Series A and B proposal details including share prices, exchange ratios, premiums, FDSO, purchase prices, and pro forma ownership/voting control.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.872+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a55452e3-6b11-4323-90d4-13f58d110241", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.7, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Project Lotus LBRD Amended Second Counter Proposal Summary", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:00.872+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6bb22b46-375b-4de1-a9b5-a57b3dea164a", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 8, "type": "analysis", "title": "Includes detailed footnotes regarding voting interest assumptions and share calculations.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 35, "componentCount": 4, "textChars": 396, "nDataPoints": 45, "notes": "Includes detailed footnotes regarding voting interest assumptions and share calculations.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:02.921+00", "seconds": 5.022, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/8", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-8", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.84 }, "kind": "disclaimer", "text": "Source: Factset (6/28/20). Note: Voting interest assumes exercise of all stock options by Liberty Management.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.921+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9f4f996f-d957-4d43-a10d-21ddb8f1e8e4", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.13 }, "kind": "table", "text": "Pro Forma Statistics table showing LBRD Series C, B, and A metrics including share price, float, and trading volume.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.921+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9cdec814-e22e-4c56-ad65-a997f5271948", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.9, "x": 0.05, "y": 0.38 }, "kind": "table", "text": "Pro Forma Statistics table showing new share issuance and resulting economic/voting ownership percentages.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.921+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f5ae7815-a50b-4860-b924-227bf9597b98", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.7, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Project Lotus Pro Forma Ownership Summary – LBRD 6/28/20 Proposal", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.921+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f3793812-bea6-4b9d-9628-9bcc5cbffd3e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 9, "type": "analysis", "title": "The chart highlights a specific price point of $71.51 related to a counter proposal.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 39, "componentCount": 5, "textChars": 439, "nDataPoints": 3, "notes": "The chart highlights a specific price point of $71.51 related to a counter proposal.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:07.077+00", "seconds": 9.061, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/9", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-9", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.9, "x": 0.04, "y": 0.18 }, "kind": "chart", "text": "Historical share price line chart", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.077+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ce3692dd-b8ea-4c0b-aa8b-88d8a6d58ebb", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.5, "x": 0.04, "y": 0.9 }, "kind": "source-note", "text": "1. LBRD amended second counter proposal (6/28/20) also implies Series B offer of $73.02", "attrs": { "numbered": true }, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.077+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7f3f72c1-6359-41f5-b27f-6e21a863b6f6", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.04, "y": 0.85 }, "kind": "source-note", "text": "Source: FactSet (as of 6/28/20). Note: GLIB share price performance represents GLIB Series A share price; $71.51 share price represents the implied GLIB Series A offer price on a fully diluted basis as of 6/28/20 from LBRD amended second counter proposal.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.077+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a46f35a7-404c-4642-9019-9c8c579b39ab", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.45, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "GLIB Historical Share Price Performance", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.077+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c5fb50aa-59ff-4710-bcaa-4051b780abc8", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.04, "y": 0.12 }, "kind": "title", "text": "GLIB Series A Share Price", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.077+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "71347b78-3a03-470f-abf9-6050ad894336", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 10, "type": "analysis", "title": "The slide includes a line chart showing historical exchange ratios and a table summarizing average share prices and premiums over various timeframes.", "function": "analyze_data", "rawType": "data_table", "block": null, "metadata": { "slideType": "data_table", "slideTypeCanon": { "name": "Data table", "slug": "data_table", "status": "active", "canonId": "019de52d-0bbd-71b9-9918-417f904abbf8", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 5, "textChars": 384, "nDataPoints": 64, "notes": "The slide includes a line chart showing historical exchange ratios and a table summarizing average share prices and premiums over various timeframes.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:04.363+00", "seconds": 5.932, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/10", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-10", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.25, "w": 0.85, "x": 0.08, "y": 0.55 }, "kind": "chart", "text": "Historical exchange ratio trend from March 2018 to June 2020", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "201adc30-396c-4922-b1eb-0188ca220a6a", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "Source: FactSet. Note: Exchange ratio is calculated as GLIB Series A adjusted share price after impact from LendingTree divided by LBRD Series C share price...", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "56bae6a7-fa20-4a10-927a-bf8c2d65a6de", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.5, "x": 0.05, "y": 0.12 }, "kind": "subtitle", "text": "Based on Market Value Less Market Value of LTREE on Taxed Basis", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bea5dfbf-8933-47e4-846e-81142f3f1d9b", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.85, "x": 0.08, "y": 0.25 }, "kind": "table", "text": "Table of average share prices and exchange ratios for various time periods", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "caa495ca-506a-4ea1-87cc-98d49f613a4e", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "GLIBA / LBRDK Exchange Ratio", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e4b180b2-4f78-4ebe-917a-59d81c07a578", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 11, "type": "analysis", "title": "The slide presents a sensitivity analysis of LBRD share valuation under different GCI value assumptions.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 39, "componentCount": 5, "textChars": 335, "nDataPoints": 100, "notes": "The slide presents a sensitivity analysis of LBRD share valuation under different GCI value assumptions.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:06.183+00", "seconds": 7.717, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/11", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-11", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.84 }, "kind": "source-note", "text": "Source: Company filings, FactSet (as of 6/26/20). 1-6 footnotes.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.183+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ef60df62-a6d1-452e-abc9-32d0989363ff", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.9, "x": 0.05, "y": 0.13 }, "kind": "subtitle", "text": "Implied Valuation of LBRD from LBRD Proposal at different GCI valuations ($ in millions, except per share data)", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.183+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e6e51a1a-68c8-43ba-85c8-d7865ca08f23", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.19 }, "kind": "table", "text": "Purchase Equity and Enterprise Value Calculation table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.183+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "754a64f0-85ff-4db3-8726-f62dd055d3de", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.9, "x": 0.05, "y": 0.37 }, "kind": "table", "text": "Implied Valuation of LBRD from LBRD Proposal table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.183+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "acb13881-0b35-48c7-9113-fa45bddde980", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Implied Premium / (Discount) for LBRD Shares within GLIB", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.183+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5a8d1652-2ccd-41d4-b5ed-0376893888de", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 12, "type": "analysis", "title": "The table highlights the sensitivity of the accretion/dilution percentage to the GCI value range, which varies from $2,500M to $3,000M.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 29, "componentCount": 4, "textChars": 272, "nDataPoints": 140, "notes": "The table highlights the sensitivity of the accretion/dilution percentage to the GCI value range, which varies from $2,500M to $3,000M.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:02.241+00", "seconds": 3.134, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/12", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-12", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.04, "w": 0.9, "x": 0.05, "y": 0.45 }, "kind": "callout", "text": "GCI Value range highlighted in the table", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.241+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2151bdea-34b4-43b1-a9b6-ad2ef48022f6", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "Source: FactSet (as of 6/28/20). Note: For illustrative purposes...", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.241+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5797ece4-855d-4d5f-a7b2-b1efa803099f", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.9, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Full financial table showing LBRD and GLIB assets, debt, shares, and NAV per share calculations across 7 scenarios.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.241+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "355d1eb9-da0a-46fe-b266-212fc2b9180c", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Pro Forma LBRD NAV (Accretion / Dilution) Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.241+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5868ed4c-1b56-4ef6-a6ed-2532a34dcb6c", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 13, "type": "analysis", "title": "Includes footnotes regarding data sources and pro forma assumptions.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 68, "componentCount": 7, "textChars": 820, "nDataPoints": 8, "notes": "Includes footnotes regarding data sources and pro forma assumptions.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:04.096+00", "seconds": 4.882, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/13", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-13", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.25, "w": 0.45, "x": 0.04, "y": 0.25 }, "kind": "chart", "text": "Equity Value", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.096+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "49956539-3d35-489d-809c-0b09dc130e02", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.52, "y": 0.55 }, "kind": "chart", "text": "Net Debt / Capitalization", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.096+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5b6b7a3f-1081-4b20-9709-c9aecfd169ed", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.52, "y": 0.25 }, "kind": "chart", "text": "Debt / Capitalization", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.096+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7877ba36-22b9-4bbd-81bd-907442605ccd", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.04, "y": 0.55 }, "kind": "chart", "text": "Cash & Cash Equivalents (3/31/20)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.096+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b5ed1ce2-4a1f-46e8-920a-7d620ca8fbf5", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.92, "x": 0.04, "y": 0.12 }, "kind": "paragraph", "text": "A rollover of GLIB Preferred Stock into an instrument with the same economic terms of LBRD may be beneficial to Preferred Stockholders as the pro forma company has a greater scale, trading liquidity, improved credit profile and has a greater proportion of its value in highly liquid tradable securities", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.096+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bca4d081-226c-4f8c-973f-0d6df23bceba", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.92, "x": 0.04, "y": 0.85 }, "kind": "source-note", "text": "Source: FactSet (6/26/20), company filings. Note: Pro forma LBRD assumes 0.580 LBRD Series C shares for 1 GLIB Series A Shares; 0.5800 LBRD Series B Shares for 1 GLIB Series B Shares. (1) Equity value as of 6/26/20 (2) Includes GLIB preferred shares and values senior exchangeable debentures valued on a trading value basis of $647mm as of 6/26/20, book value as of 3/31/20 of $477mm", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.096+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0a911032-cda1-46bc-b7d1-795c09ecce6b", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "GLIB Preferred Stock Rollover Considerations", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.096+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9412a90b-fd01-4fc3-aa5f-70c5245df4da", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 14, "type": "setup", "function": "transition", "rawType": "section_divider", "block": null, "metadata": { "slideType": "section_divider", "slideTypeCanon": { "name": "Section divider", "slug": "section_divider", "status": "active", "canonId": "019de52d-066a-7402-9554-6ae504999041", "version": 1, "description": null }, "function": "transition", "functionCanon": { "name": "Transition", "slug": "transition", "status": "active", "canonId": "019de52d-1365-7149-92aa-66df859e75fd", "version": 1, "description": null }, "density": "sparse", "densityScore": 7, "componentCount": 3, "textChars": 59, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:01.341+00", "seconds": 2.102, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/14", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-14", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.1, "x": 0.878, "y": 0.02 }, "kind": "disclaimer", "text": "Confidential", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:01.341+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1ae3f22e-1542-4c53-8c13-cece7bd1db8e", "parentComponentId": null }, { "bbox": { "h": 0.025, "w": 0.18, "x": 0.078, "y": 0.88 }, "kind": "image", "text": "EVERCORE", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:01.341+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6450f1f1-4354-4357-81a0-d46ebaae54a9", "parentComponentId": null }, { "bbox": { "h": 0.035, "w": 0.645, "x": 0.078, "y": 0.435 }, "kind": "title", "text": "II. GLIB Preliminary Financial Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:01.341+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a748477e-bd6e-4871-8ee9-f2eb29b31bcf", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 15, "type": "analysis", "title": "Includes detailed footnotes regarding ownership calculations and debt/equity valuation metrics.", "function": "analyze_data", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 33, "componentCount": 4, "textChars": 363, "nDataPoints": 40, "notes": "Includes detailed footnotes regarding ownership calculations and debt/equity valuation metrics.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:02.245+00", "seconds": 2.897, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/15", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-15", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.45, "x": 0.05, "y": 0.2 }, "kind": "diagram", "text": "Corporate Structure diagram showing Liberty Management, GCI Liberty, Liberty Broadband, Charter, LendingTree, and Skyhook", "attrs": null, "canon": { "kind": { "name": "Diagram", "slug": "diagram", "status": "active", "canonId": "019de52c-f9f0-734a-81de-15382ff28c65", "version": 1, "description": "Schematic or relational diagram." }, "tool": null, "subkind": { "name": "Org chart", "slug": "org-chart", "status": "active", "canonId": "019de52d-04b3-709a-9328-bbcb1643bbc1", "version": 1, "description": null }, "framework": null }, "subkind": "org-chart", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.245+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "41838164-6464-4f93-bab6-ade4ed446663", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.82 }, "kind": "disclaimer", "text": "Source: Factset (as of 6/26/20), Company Filings. Note: Unless otherwise stated, all ownership figures are from the files shared by Liberty management...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.245+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "cfd70e5b-2400-4bdf-9e6e-8c066513134b", "parentComponentId": null }, { "bbox": { "h": 0.55, "w": 0.43, "x": 0.52, "y": 0.18 }, "kind": "table", "text": "Relative Valuation table comparing GLIB and LBRD metrics", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.245+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0db05401-dbba-4037-968a-f4d4e99f9b08", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.35, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "GLIB Corporate Structure Overview", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.245+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "64a53536-36b2-48f1-aebe-5b0f58564a25", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 16, "type": "analysis", "title": "Includes detailed footnotes regarding valuation assumptions for Evite, GCI, and debt instruments.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 47, "componentCount": 6, "textChars": 346, "nDataPoints": 45, "notes": "Includes detailed footnotes regarding valuation assumptions for Evite, GCI, and debt instruments.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:02.492+00", "seconds": 2.943, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/16", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-16", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.9, "x": 0.05, "y": 0.12 }, "kind": "paragraph", "text": "Assuming public assets at trading value ($ in millions, except per share data)", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.492+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bf9a3c0b-c6b2-484e-8989-5b71f9d57a8e", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "Source: Share prices per Factset (as of 6/26/20), GLIB management, Wall Street Research. Note: Assumes 8.75% WACC for NPV calculation...", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.492+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9e459f5f-fc17-465e-b0c3-37767e6d3661", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.9, "x": 0.05, "y": 0.35 }, "kind": "table", "text": "Private Assets table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.492+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "20cb606a-9604-442a-b31e-73ccc4d03db0", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.9, "x": 0.05, "y": 0.48 }, "kind": "table", "text": "Financial Assets & Liabilities table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.492+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "36228973-af8b-404d-9aa5-dd14bde6ce2d", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "Publicly Traded Securities Portfolio table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.492+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "977c29ab-34f0-4a11-99db-c4b5ab0196b5", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Sum-of-the-Parts Valuation of GLIB", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.492+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "daf1311b-849e-4229-b121-49911708f042", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Sum of parts", "slug": "sum-of-parts", "status": "active", "bestFor": "For breakup / spin-off theses", "canonId": "019dd9e1-51e5-73ad-9d1e-e77d4afe3125", "version": 1, "bodyDocId": "019df22a-9ecd-71db-8fa1-5f5eff36697f", "description": "You break the target into its constituent businesses or asset classes, value\neach separately against its own peer set, and show that the total is\nmaterially greater than the current market capitalisation. The \"gap\" is the\nconglomerate discount — or worse, accounting opacity hiding a crown-jewel\nasset.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "9a6a198b-4deb-41cc-bd77-1a43014079e1", "evidence": "The slide includes tables for publicly traded securities, financial assets, and private assets.", "pageRefs": null, "priority": null, "whenToUse": "For breakup / spin-off theses", "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:39.12039+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 16, "whyItWorks": "- It forces the market to confront **mismatched valuation multiples**:\n \"this company trades like X but owns Y, which trades at", "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 17, "type": "analysis", "title": "Includes revenue and gross margin breakdown by segment (Wireless, Data, Video, Voice) and key profitability metrics (Adj. EBITDA, Capex).", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 44, "componentCount": 5, "textChars": 460, "nDataPoints": 120, "notes": "Includes revenue and gross margin breakdown by segment (Wireless, Data, Video, Voice) and key profitability metrics (Adj. EBITDA, Capex).", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:02.548+00", "seconds": 2.865, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/17", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-17", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.25, "w": 0.25, "x": 0.72, "y": 0.55 }, "kind": "chart", "text": "Gross Margin by Segment 2019A", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Pie chart", "slug": "pie", "status": "active", "canonId": "019de52c-ffdb-71bb-a800-5c5ab9f1c373", "version": 1, "description": null }, "framework": null }, "subkind": "pie", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.548+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1ddd4150-fde1-4648-a7da-aa56fb5f832e", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.25, "x": 0.72, "y": 0.23 }, "kind": "chart", "text": "Revenue by Segment 2019A", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Pie chart", "slug": "pie", "status": "active", "canonId": "019de52c-ffdb-71bb-a800-5c5ab9f1c373", "version": 1, "description": null }, "framework": null }, "subkind": "pie", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.548+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d1f1825c-cfee-462c-9050-3c73702193eb", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.6, "x": 0.04, "y": 0.85 }, "kind": "disclaimer", "text": "Source: GCI Management (2020 Budget Presentation 3/6/20 and 2020 GCI April 20 Update). 1. Financials for 2020 onwards reflect DMH sale... 2. Video business segment includes DMH revenue. 3. Excludes stock based compensation. 4. 2020E EBITDA pro forma...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.548+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fc5ba595-1cfd-4de4-9467-5f5d16a08dcd", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.65, "x": 0.04, "y": 0.215 }, "kind": "table", "text": "Financial Summary table with rows for Revenue Breakdown, Gross Margin, Adj. EBITDA, Capex, and Adj. EBITDA - Capex across 2019A-2023E.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.548+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ab43556d-4fb9-4699-84eb-9b748ecfe46f", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "GCI Financial Profile", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:02.548+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c954ffef-a866-4752-b7a4-2d2258ca27a7", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "NxN matrix", "slug": "matrix-nxn", "status": "active", "bestFor": null, "canonId": "019de52d-2313-71fa-bb45-a7d1a4aae23a", "version": 1, "bodyDocId": null, "description": null, "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "9648160a-2169-4e12-bb5e-3a89b2f39ea4", "evidence": "Financial Summary table with multiple rows and columns.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:38.19784+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 17, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "33a27f79-450a-4eff-b0c3-7193cba865af", "evidence": "Financial Summary table with rows for Revenue Breakdown, Gross Margin, Adj. EBITDA, Capex, and Adj. EBITDA - Capex across 2019A-2023E.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:38.157218+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 17, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 18, "type": "analysis", "title": "The slide uses a floating bar chart to show valuation ranges for three different financial methodologies.", "function": "quantify_impact", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "quantify_impact", "functionCanon": { "name": "Quantify impact", "slug": "quantify_impact", "status": "active", "canonId": "019de52d-1630-720d-b57d-fa7f76bebd8d", "version": 1, "description": null }, "density": "balanced", "densityScore": 46, "componentCount": 5, "textChars": 568, "nDataPoints": 12, "notes": "The slide uses a floating bar chart to show valuation ranges for three different financial methodologies.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:03.036+00", "seconds": 3.204, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/18", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-18", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.45, "w": 0.75, "x": 0.14, "y": 0.18 }, "kind": "chart", "text": "Valuation ranges for Trading Analysis, Precedent Transactions, and DCF", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": null, "framework": null }, "subkind": "bar-floating", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6867daff-d68b-4213-8b3d-1ae23fd4ec82", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.6, "x": 0.04, "y": 0.86 }, "kind": "source-note", "text": "Source: GLIB Management. Note: All valuation methodologies are pro forma for the DMH sale proceeds of $15mm. 1. PF 2020E EBITDA for DMH sale and net of stock-based compensation is $205mm per GLIB management forecast. 2. PF LTM EBITDA for DMH sale and net of stock-based compensation as of 3/31/20 is $282mm.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ad9a1687-aa9e-430e-9832-7a8597333f77", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.9, "x": 0.04, "y": 0.13 }, "kind": "subtitle", "text": "Valuation on a cash / debt free basis; does not include RHC FY16-FY19 receivables settlement ($ in billions)", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7f360d2c-8dff-4440-8c2c-94df853f9954", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.9, "x": 0.04, "y": 0.65 }, "kind": "table", "text": "Key Metrics / Assumptions and Implied TEV / 2020E EBITDA rows", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6ffd8ab3-fa1f-4f65-8510-4801241a9fbb", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "GCI Valuation Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a46f7c94-7734-43fa-ace8-81aa034dd7af", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "ba734587-60ae-4dfe-a7dc-325348a1ca57", "evidence": "Comparison of Trading Analysis, Precedent Transactions, and DCF", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 14:05:03.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 18, "frameworkName": "valuation-methodology" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 19, "type": "analysis", "title": "Includes a DCF model (Financial Summary and Discounted Cash Flow Analysis) and a bar chart comparing TEV/Revenue multiples for internet companies.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 54, "componentCount": 6, "textChars": 507, "nDataPoints": 80, "notes": "Includes a DCF model (Financial Summary and Discounted Cash Flow Analysis) and a bar chart comparing TEV/Revenue multiples for internet companies.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:03.015+00", "seconds": 3.047, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/19", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-19", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.55, "w": 0.45, "x": 0.52, "y": 0.18 }, "kind": "chart", "text": "Selected Internet Trading Comps bar chart showing TEV/2020E Revenue and TEV/2021E Revenue.", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.015+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6d14ca25-eb65-4e82-81c8-96bb314839b8", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.05, "y": 0.88 }, "kind": "disclaimer", "text": "Source: Evite Management, Factset (6/26/20), Wall Street Research. Notes on tax rate, terminal revenue range, and WACC.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.015+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "70832c54-a594-47c0-a8c0-f068c3c8db1e", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.45, "x": 0.52, "y": 0.75 }, "kind": "table", "text": "Revenue Growth and EBITDA Margin data for the selected internet companies.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.015+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d673638c-42a0-41c8-8ecc-606e38980b34", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Financial Summary table showing Revenue, EBITDA, NOPAT, Capex, and Unlevered FCF from 2018A to 2021E.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.015+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fdc766dc-a1c5-482a-bae3-9f7b894a5557", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.45, "x": 0.05, "y": 0.45 }, "kind": "table", "text": "Discounted Cash Flow Analysis for Evite including NPV of cash flows and Terminal Value calculation.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.015+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "03c1b29b-a86f-486e-8c21-03fc80054455", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Evite Valuation Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.015+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4bdce085-93f4-4707-8aad-4ea2e8cc39ad", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "484473c0-b657-40bd-84cc-f9d3b3866630", "evidence": "The slide explicitly presents a DCF-based valuation model.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:05:03.015+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 19, "frameworkName": "Discounted Cash Flow" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 20, "type": "analysis", "title": "Includes detailed assumptions for expense growth and WACC-based terminal value calculation.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 47, "componentCount": 5, "textChars": 542, "nDataPoints": 80, "notes": "Includes detailed assumptions for expense growth and WACC-based terminal value calculation.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:07.828+00", "seconds": 7.652, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/20", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-20", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.3, "x": 0.65, "y": 0.23 }, "kind": "callout", "text": "Assumes mid-point of 3-5% YoY growth rate on total corporate expenses starting 2021 and 0% YoY growth rate on stock based compensation starting 2022 per GLIB management guidance", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.828+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e1d999d0-3ea0-466b-8496-29a761d656fb", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.92, "x": 0.04, "y": 0.89 }, "kind": "source-note", "text": "Source: GLIB Management. 1. 27% Tax rate based on GLIB management guidance... 2. Assumes 6.75% WACC and 2.7% weighted average perpetuity growth rate...", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.828+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "59606d6f-561e-4c9f-8495-748e86814c28", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.92, "x": 0.04, "y": 0.13 }, "kind": "table", "text": "Historical and projected corporate expenses from 2018A to 2023E, including allocations, stock-based compensation, and tax impacts.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.828+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "705a1015-a2b4-4bce-b40a-f4f921d78fa8", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.92, "x": 0.04, "y": 0.63 }, "kind": "table", "text": "NPV calculation of GLIB corporate expenses using a 6.75% WACC.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.828+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "22db402c-a00c-42f0-8a26-02db6820c38a", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "GLIB Corporate Expense", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.828+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "59019ec0-a08b-4adc-864e-e4e401720f7f", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "1dbacc01-c4c6-409c-ac45-f4a75173de93", "evidence": "table/data: Historical and projected corporate expenses from 2018A to 2023E, including allocations, stock-based compensation, and tax impacts.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 03:30:54.33129+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 20, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 21, "type": "setup", "function": "transition", "rawType": "section_divider", "block": null, "metadata": { "slideType": "section_divider", "slideTypeCanon": { "name": "Section divider", "slug": "section_divider", "status": "active", "canonId": "019de52d-066a-7402-9554-6ae504999041", "version": 1, "description": null }, "function": "transition", "functionCanon": { "name": "Transition", "slug": "transition", "status": "active", "canonId": "019de52d-1365-7149-92aa-66df859e75fd", "version": 1, "description": null }, "density": "sparse", "densityScore": 1, "componentCount": 1, "textChars": 40, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:05.699+00", "seconds": 5.405, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/21", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-21", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.04, "w": 0.58, "x": 0.078, "y": 0.435 }, "kind": "title", "text": "III. LBRD Preliminary Financial Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.699+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f3a8d66c-b4b2-4f65-a73a-8006e72df54c", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 22, "type": "appendix", "title": "Includes ownership percentages, voting control, and financial valuation metrics.", "function": "establish_context", "rawType": "other", "block": null, "metadata": { "slideType": "other", "slideTypeCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43", "version": 1, "description": null }, "function": "establish_context", "functionCanon": { "name": "Establish context", "slug": "establish_context", "status": "active", "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf", "version": 1, "description": null }, "density": "balanced", "densityScore": 32, "componentCount": 4, "textChars": 373, "nDataPoints": 20, "notes": "Includes ownership percentages, voting control, and financial valuation metrics.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:04.458+00", "seconds": 4.12, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/22", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-22", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.45, "x": 0.05, "y": 0.2 }, "kind": "diagram", "text": "Corporate Structure diagram showing Liberty Management, GCI Liberty, Liberty Broadband, Charter, Evite, LendingTree, and Skyhook.", "attrs": null, "canon": { "kind": { "name": "Diagram", "slug": "diagram", "status": "active", "canonId": "019de52c-f9f0-734a-81de-15382ff28c65", "version": 1, "description": "Schematic or relational diagram." }, "tool": null, "subkind": { "name": "Org chart", "slug": "org-chart", "status": "active", "canonId": "019de52d-04b3-709a-9328-bbcb1643bbc1", "version": 1, "description": null }, "framework": null }, "subkind": "org-chart", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.458+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b12612d5-effb-41f1-b968-2e7c4e8f647a", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.82 }, "kind": "disclaimer", "text": "Source: Factset (as of 6/26/20), Company Filings. Notes on ownership and methodology.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.458+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "919e838d-5059-4821-9ea4-6c9f0eada232", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.45, "x": 0.52, "y": 0.2 }, "kind": "table", "text": "LBRD Total Enterprise Value table including share price, diluted shares, equity value, debt, cash, and total enterprise value.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.458+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8f378958-be08-4e9c-8919-9435de6de49d", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "LBRD Corporate Structure Overview", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.458+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "66253ad1-241f-47f8-a8c4-b803f630b893", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "6c76453f-4fe9-4a5c-80bd-5c0316c9dd68", "evidence": "table/data: LBRD Total Enterprise Value table including share price, diluted shares, equity value, debt, cash, and total enterprise value.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 03:30:54.39434+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 22, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 23, "type": "analysis", "title": "Includes valuation of Charter shares, Skyhook private assets, and adjustments for debt and corporate expenses.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 49, "componentCount": 5, "textChars": 615, "nDataPoints": 30, "notes": "Includes valuation of Charter shares, Skyhook private assets, and adjustments for debt and corporate expenses.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:03.657+00", "seconds": 3.189, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/23", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-23", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "source-note", "text": "1. Assumes Skyhook's value based on DCF with terminal multiple range of 1.5x to 3.5x. 2. Calculated as LBRD Equity Value as of 6/26/20 plus Net Debt minus the mid-point of Skyhook valuation plus NPV of LBRD Corporate Expense, divided by 54.1mm Charter shares within LBRD.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.657+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7628268c-466e-4822-b5a7-d2647d1740b9", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "Source: Factset (as of 6/26/20), LBRD management, Wall Street Research. Note: Charter tax leakage of $4,640mm at 24% tax rate per page 24 of the appendix.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.657+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9af6636d-f5ed-4881-8fa0-0a89c83d426a", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.05, "y": 0.12 }, "kind": "subtitle", "text": "Assuming public assets at trading value", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.657+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a266548c-0f84-4035-a883-0395c07e9b26", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.9, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Detailed SOTP valuation table including Publicly Traded Securities, Private Assets, and Financial Assets/Liabilities.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.657+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bfcfdaec-d1bc-4075-a340-0150ef93c10d", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Sum-of-the-Parts Valuation of LBRD", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.657+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "548343f2-d450-478f-8537-f3f1257cfd19", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 24, "type": "analysis", "title": "Includes a detailed financial table (2019A-2023E), a historical share price line chart, and a public market valuation summary.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 5, "textChars": 378, "nDataPoints": 120, "notes": "Includes a detailed financial table (2019A-2023E), a historical share price line chart, and a public market valuation summary.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:03.798+00", "seconds": 3.271, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/24", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-24", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.25, "w": 0.4, "x": 0.55, "y": 0.18 }, "kind": "chart", "text": "Historical Share Price Performance from 6/27/18 to 6/26/20", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.798+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1a2f7e78-81c8-49c2-9ff3-1bc4362278c1", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.45, "x": 0.05, "y": 0.82 }, "kind": "source-note", "text": "Source: Factset (6/26/20), Company filings as of Q1'20, forecast based on Wall Street consensus", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.798+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5ab3aed8-3477-482e-9243-7dfb8d6d51e6", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.45, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Financial Overview table showing Revenue, EBITDA, Capex, LFCF, and Debt metrics from 2019A to 2023E.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.798+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "71bdbfad-eecd-4152-bc89-0ff12d5e73d6", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.4, "x": 0.55, "y": 0.55 }, "kind": "table", "text": "Public Market Overview including Equity Value, Enterprise Value, and valuation multiples.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.798+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "32347daa-f8a8-41a8-b92f-85f2f9a82ad2", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Charter Standalone Financial Summary", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.798+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b23356b6-061e-4ff4-ac63-3dc9a4c2ade5", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 25, "type": "analysis", "title": "The chart uses a floating bar (box plot style) to show valuation ranges for different methodologies.", "function": "compare_options", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "compare_options", "functionCanon": { "name": "Compare options", "slug": "compare_options", "status": "active", "canonId": "019de52d-167f-7038-aebc-70a9d2e0e33b", "version": 1, "description": null }, "density": "balanced", "densityScore": 47, "componentCount": 5, "textChars": 572, "nDataPoints": 20, "notes": "The chart uses a floating bar (box plot style) to show valuation ranges for different methodologies.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:03.531+00", "seconds": 2.852, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/25", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-25", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.45, "w": 0.9, "x": 0.05, "y": 0.2 }, "kind": "chart", "text": "Valuation range chart showing 52-week high/low, analyst targets, trading analysis, precedent transactions, and DCF.", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Box plot", "slug": "box", "status": "active", "canonId": "019de52d-020e-73d9-b4cf-5793a03e9b74", "version": 1, "description": null }, "framework": null }, "subkind": "box", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.531+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ceb4fb6c-61cc-48d7-83ce-c8957536a20e", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.5, "x": 0.04, "y": 0.86 }, "kind": "disclaimer", "text": "Source: Company Filings and Wall Street Research. 1. 2020E adjusted EBITDA of $17.8 billion per Wall Street Research. 2. 2020E capex of $6.8 billion per Wall Street Research. 3. LTM EBITDA (as of 3/31/20) of $17.2 billion per Q1'20 10Q, 2019 10K and Q1'19 10Q.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.531+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b0c59d04-8593-4809-8a2a-524b2e7a392c", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.92, "x": 0.04, "y": 0.65 }, "kind": "table", "text": "Table of key metrics, assumptions, and implied TEV/2020E EBITDA multiples for each valuation method.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.531+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "37774372-c00f-4c7c-b946-db6bb84d6897", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "Charter Valuation Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.531+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1ba74658-4f02-40c9-b1e8-3de0f6417368", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.5, "x": 0.04, "y": 0.13 }, "kind": "title", "text": "Illustrative implied equity value per share based on public information", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.531+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "054145e9-612e-48c6-b467-36ecf208b02f", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "a2a7ec6f-10b8-4aa9-9d4f-64c690827bb5", "evidence": "Comparison of multiple valuation methodologies against current market price.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 14:05:03.531+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 25, "frameworkName": "valuation-analysis" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 26, "type": "analysis", "title": "Includes mid-year discounting methodology and WACC assumptions.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 34, "componentCount": 4, "textChars": 378, "nDataPoints": 80, "notes": "Includes mid-year discounting methodology and WACC assumptions.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:03.122+00", "seconds": 2.298, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/26", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-26", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.3, "x": 0.65, "y": 0.22 }, "kind": "callout", "text": "Assumes mid-point of 3-5% YoY growth rate on total corporate expenses starting 2021 and 0% YoY growth rate on stock based compensation starting 2022 per LBRD management guidance", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.122+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9d2feeb2-7e27-4e49-be39-177ad50f660b", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.92, "x": 0.04, "y": 0.88 }, "kind": "source-note", "text": "Source: LBRD Management. Assumes 6.75% WACC and 2.5% weighted average perpetuity growth rate...", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.122+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d6ba1822-cc59-40f6-a156-a1bc097e6a37", "parentComponentId": null }, { "bbox": { "h": 0.75, "w": 0.92, "x": 0.04, "y": 0.13 }, "kind": "table", "text": "Historical and projected corporate expenses (2018A-2023E) and NPV calculation table.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.122+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "243844f6-40fc-41e0-a82a-2fc56eca2959", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "LBRD Corporate Expense", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.122+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "489a5143-9543-4bf7-ae74-5d7aaf7b26c4", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "ec3c35e4-f481-485b-93da-c0844c8c38ca", "evidence": "table/data: Historical and projected corporate expenses (2018A-2023E) and NPV calculation table.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 03:30:54.489503+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 26, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 27, "type": "analysis", "title": "Includes detailed financial table, two bar charts for valuation multiples, and supporting tables for revenue growth and EBITDA margins.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 51, "componentCount": 6, "textChars": 423, "nDataPoints": 120, "notes": "Includes detailed financial table, two bar charts for valuation multiples, and supporting tables for revenue growth and EBITDA margins.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:04.228+00", "seconds": 3.293, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/27", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-27", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.25, "w": 0.4, "x": 0.55, "y": 0.15 }, "kind": "chart", "text": "Selected Integrated Solutions Comps TEV/Revenue multiples.", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.228+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d0a49f35-b959-486f-ab55-039feca88fbd", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.4, "x": 0.55, "y": 0.55 }, "kind": "chart", "text": "Selected Hardware / Modules Solutions Comps TEV/Revenue multiples.", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.228+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "edd2a963-dd11-442f-99a3-5cd5efe39707", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.05, "y": 0.85 }, "kind": "disclaimer", "text": "Source: Skyhook Management, Company Filings, Wall Street Research, FactSet (as of 6/26/20)", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.228+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "358bf045-8935-47a8-b708-a068b245ec7e", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.05, "y": 0.5 }, "kind": "table", "text": "Discounted Cash Flow Analysis for Skyhook including NPV, Terminal Value, and Total TEV.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.228+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "77a4c470-4508-4573-b238-8e4bf3964135", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.45, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Financial Summary table including Revenue, EBITDA, Capex, and Unlevered FCF from 2018A to 2022E.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.228+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fed3f528-162f-4cd4-8ba9-95f7aa21d0e6", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Skyhook Valuation Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.228+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4a62dfac-4c78-4610-9664-76cdfeb5cb2d", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 28, "type": "appendix", "function": "appendix", "rawType": "appendix", "block": null, "metadata": { "slideType": "appendix", "slideTypeCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-0762-71f8-b564-89ab863301cc", "version": 1, "description": null }, "function": "appendix", "functionCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38", "version": 1, "description": null }, "density": "sparse", "densityScore": 5, "componentCount": 3, "textChars": 28, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:03.976+00", "seconds": 2.985, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/28", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-28", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.07, "x": 0.875, "y": 0.02 }, "kind": "disclaimer", "text": "Confidential", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.976+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f767697f-6f98-4727-956f-e995a7486dc8", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.08, "x": 0.075, "y": 0.88 }, "kind": "image", "text": "EVERCORE", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.976+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1053dff1-0aaa-42a5-aad3-a61f8eb98e5a", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.11, "x": 0.075, "y": 0.43 }, "kind": "title", "text": "Appendix", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:03.976+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2463355a-25d6-4c03-8619-1a33dbff3d7b", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 29, "type": "analysis", "title": "Evercore slide 22. Detailed breakdown of NAV components including debt, cash, and adjustments.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 38, "componentCount": 4, "textChars": 484, "nDataPoints": 45, "notes": "Evercore slide 22. Detailed breakdown of NAV components including debt, cash, and adjustments.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:07.985+00", "seconds": 6.903, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/29", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-29", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.8, "x": 0.05, "y": 0.12 }, "kind": "paragraph", "text": "Only LTREE Post-tax: Adjusted for LendingTree's $198mm tax leakage\nLBRD and LTREE post-tax: Adjusted for LBRD's $773mm tax leakage and LendingTree's $198mm tax leakage", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.985+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c65f3897-20c6-49cd-b8da-197ea27ce617", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.7, "x": 0.05, "y": 0.88 }, "kind": "source-note", "text": "Source: Company filings, Wall Street Research, FactSet (as of 6/26/20). Footnotes 1-6.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.985+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8df231cc-31a8-4350-87c8-06ed4f4f69e8", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.9, "x": 0.05, "y": 0.2 }, "kind": "table", "text": "Publicly Traded Securities Portfolio, Private Assets, Financial Assets & Liabilities, Total Net Asset Value", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.985+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "693d2a14-79a7-4e30-81cd-a40ca4f437b0", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "GLIB NAV Analysis with LBRD Shares Valued Based on Trading Value and Charter Shares Valued at Look-through Price within LBRD", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.985+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0c47a16d-c253-4755-b7f4-edfa3a21e35b", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Valuation: DCF", "slug": "dcf", "status": "active", "bestFor": null, "canonId": "019df269-2031-7273-9014-0c70beb91e11", "version": 1, "bodyDocId": "019df269-200e-76ea-8883-6ee35d39c836", "description": "You project free cash flows over an explicit forecast period (typically", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "4b1c95c0-1a3d-4315-91f6-09280f427f88", "evidence": "Adjusted for LendingTree's $198mm tax leakage and LBRD's $773mm tax leakage", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:39.771508+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 29, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Valuation: LBO math", "slug": "lbo-math", "status": "active", "bestFor": null, "canonId": "019df269-212c-732d-a38c-b9513acf723c", "version": 1, "bodyDocId": "019df269-2109-77fd-9ee6-fbbecf40d439", "description": "You model the target as if a private equity buyer were acquiring it,", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "8a7ebf5b-f65c-485a-8a5d-e2eee0b33a64", "evidence": "GLIB NAV Analysis with LBRD Shares Valued Based on Trading Value and Charter Shares Valued at Look-through Price within LBRD", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:39.811354+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 29, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Valuation: Multiple comparison", "slug": "multiple-comparison", "status": "active", "bestFor": null, "canonId": "019df269-21df-706e-8bc6-ad549df92fc6", "version": 1, "bodyDocId": "019df269-21bc-702f-8c5b-59445cace7cd", "description": "You apply a peer-derived multiple (EV/EBITDA, P/E, EV/Sales, P/NAV) to the", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "bec866fc-c68c-4b8a-9ab5-4a13abb491f3", "evidence": "Valued Based on Trading Value and Charter Shares Valued at Look-through Price within LBRD", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:39.849688+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 29, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 30, "type": "analysis", "title": "The slide provides a detailed breakdown of LBRD's NAV as of 6/26/20.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 29, "componentCount": 3, "textChars": 413, "nDataPoints": 12, "notes": "The slide provides a detailed breakdown of LBRD's NAV as of 6/26/20.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:04.144+00", "seconds": 2.659, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/30", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-30", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.5, "x": 0.05, "y": 0.87 }, "kind": "disclaimer", "text": "Source: Company filings, Wall Street Research, FactSet (as of 6/26/20). 1. Assumes the mid-point of Skyhook's value based on DCF analysis with terminal range of 1.5x to 3.5x. 2. Calculated using treasury stock method with the LBRD NAV / Share.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.144+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "42203971-a1c7-4378-96bd-56d670d4fd4b", "parentComponentId": null }, { "bbox": { "h": 0.7, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "Publicly Traded Securities Portfolio, Private Assets, Financial Assets and Liabilities, NAV calculation", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.144+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "65659725-9df3-40fa-91a5-2c31d549f89e", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.7, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "LBRD NAV Analysis with Charter Shares Valued Based on Trading Value", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.144+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9249303b-9a2a-4b2e-95c3-262766d184f9", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Valuation: DCF", "slug": "dcf", "status": "active", "bestFor": null, "canonId": "019df269-2031-7273-9014-0c70beb91e11", "version": 1, "bodyDocId": "019df269-200e-76ea-8883-6ee35d39c836", "description": "You project free cash flows over an explicit forecast period (typically", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "3d0b6cc5-d74a-47bc-9658-ea5c505b62e2", "evidence": "Assumes the mid-point of Skyhook's value based on DCF analysis with terminal range of 1.5x to 3.5x", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:39.92354+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 30, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 31, "type": "analysis", "title": "The slide presents two separate tables for GLIB and LBRD securities, detailing share counts, cost basis, current market value, gains, and calculated tax leakage", "function": "quantify_impact", "rawType": "data_table", "block": null, "metadata": { "slideType": "data_table", "slideTypeCanon": { "name": "Data table", "slug": "data_table", "status": "active", "canonId": "019de52d-0bbd-71b9-9918-417f904abbf8", "version": 1, "description": null }, "function": "quantify_impact", "functionCanon": { "name": "Quantify impact", "slug": "quantify_impact", "status": "active", "canonId": "019de52d-1630-720d-b57d-fa7f76bebd8d", "version": 1, "description": null }, "density": "balanced", "densityScore": 35, "componentCount": 4, "textChars": 422, "nDataPoints": 32, "notes": "The slide presents two separate tables for GLIB and LBRD securities, detailing share counts, cost basis, current market value, gains, and calculated tax leakage.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:09.69+00", "seconds": 8.082, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/31", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-31", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.88 }, "kind": "disclaimer", "text": "Source: Company filings and GLIB management, FactSet (as of 6/26/20). Note: Assumes 27% tax rate for tax leakage on LBRD. Charter and LendingTree per GLIB management guidance; assumes 24% tax rate for tax leakage on Charter per LBRD management guidance.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.69+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "883ac2a2-6590-469d-9ec9-e4a28aad6af3", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.5 }, "kind": "table", "text": "Potential Tax Leakage for LBRD Securities table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.69+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1a922fc2-b346-4262-9bef-812ba7c10551", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.2 }, "kind": "table", "text": "Potential Tax Leakage for GLIB Securities table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.69+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "566c30e2-e8cb-4e35-bd7c-a55199748362", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Potential Tax Leakage Due to Public Market Securities Held by GLIB and LBRD", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.69+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8d23b72c-e96f-4a85-b726-e635ae039ba8", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "18a96608-20b9-49e4-a7e0-99bd89bd9fa7", "evidence": "table/data: Potential Tax Leakage for GLIB Securities table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 03:30:54.583953+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 31, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 32, "type": "analysis", "title": "The slide includes a table of historical share prices and exchange ratios, and a line chart visualizing the exchange ratio over time with a reference line for t", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 39, "componentCount": 5, "textChars": 351, "nDataPoints": 40, "notes": "The slide includes a table of historical share prices and exchange ratios, and a line chart visualizing the exchange ratio over time with a reference line for the counter proposal.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:05.299+00", "seconds": 3.029, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/32", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-32", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.45, "w": 0.92, "x": 0.04, "y": 0.45 }, "kind": "chart", "text": "Line chart showing the historical exchange ratio from March 2018 to June 2020.", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.299+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bf2e5469-5e1b-41a1-9b74-f49f0b5c6cdc", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.04, "y": 0.9 }, "kind": "source-note", "text": "Source: FactSet. Note: LBRD amended second counter proposal (6/28/20) also implies GLIB Series B offer price of $73.02.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.299+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0d7a393c-c324-4590-84b9-125db36b37d6", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.92, "x": 0.04, "y": 0.18 }, "kind": "table", "text": "Table showing GLIBA/LBRDK share prices, exchange ratios, and premiums/discounts for various time periods.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.299+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "eb2245ae-403d-4c9e-aa94-8d123d921e1b", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "GLIBA / LBRDK Exchange Ratio", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.299+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "840571dd-c9dd-4a12-bfcd-463de1e98333", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.04, "y": 0.13 }, "kind": "title", "text": "Based on Market Value", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.299+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5e5c1497-d246-4999-a669-e6a9c0bec60a", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 33, "type": "analysis", "title": "Includes Evercore extrapolation note for Evite projections.", "function": "summarize", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "balanced", "densityScore": 26, "componentCount": 4, "textChars": 206, "nDataPoints": 100, "notes": "Includes Evercore extrapolation note for Evite projections.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:04.905+00", "seconds": 2.384, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/33", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-33", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.04, "w": 0.1, "x": 0.85, "y": 0.25 }, "kind": "callout", "text": "Evercore Extrapolation", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.905+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "81a2d33c-ee6e-4a7f-bd80-07a39ddc6583", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.86 }, "kind": "source-note", "text": "Source: GCI Management. Notes 1-5 included.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.905+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dcc09e83-6ca0-4e20-bb26-12c9751db006", "parentComponentId": null }, { "bbox": { "h": 0.7, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "Financial table with rows for Revenue, Expenses, EBITDA, D&A, Capex, LFCF, and Net Debt across 2019A-2023E", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.905+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d686233a-9b06-453d-a3f8-1f4d6d65efbf", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "GLIB Consolidated Financial Summary", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:04.905+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bb657355-0fa4-4ada-abfc-534a6cff19d0", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "1b8ab8d4-df35-4a44-be2e-70403b4f4c0e", "evidence": "Financial table with rows for Revenue, Expenses, EBITDA, D&A, Capex, LFCF, and Net Debt across 2019A-2023E", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:40.039885+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 33, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 34, "type": "analysis", "title": "The slide compares two scenarios (Management Plan vs Wall Street Consensus) across four key financial metrics.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 52, "componentCount": 7, "textChars": 297, "nDataPoints": 48, "notes": "The slide compares two scenarios (Management Plan vs Wall Street Consensus) across four key financial metrics.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:05.878+00", "seconds": 3.35, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/34", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-34", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.35, "w": 0.45, "x": 0.04, "y": 0.52 }, "kind": "chart", "text": "Capex", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.878+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "248b5bd8-71f7-458e-a861-4bd2bca4595e", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.45, "x": 0.04, "y": 0.15 }, "kind": "chart", "text": "Revenue", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.878+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "33528bfc-c28b-4777-a888-233266c900c9", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.45, "x": 0.52, "y": 0.15 }, "kind": "chart", "text": "Adj. EBITDA", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.878+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "448e1df6-6885-4815-bcc8-1a09adb08ba9", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.45, "x": 0.52, "y": 0.52 }, "kind": "chart", "text": "Adj. EBITDA - Capex", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.878+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b8841914-7712-4d38-8916-380b5e67d32b", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.93, "x": 0.04, "y": 0.87 }, "kind": "disclaimer", "text": "Source: Wall Street Research, GLIB management projections and filings. Note: Management provided forecast for GCI through to 2023, Evite through to 2021 and corporate expense through to 2020...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.878+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f944e710-167f-45d1-8552-2fd5a10ae00b", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.22, "x": 0.39, "y": 0.84 }, "kind": "legend", "text": "Management Plan vs Wall Street Consensus", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.878+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f01a7089-4bb3-4723-990f-ed970d939822", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "GLIB Financial Profile", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.878+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "db807356-0ffb-4642-a9ae-704360fa115c", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 35, "type": "setup", "title": "The slide uses grouped bar charts for revenue growth and single bar charts for EBITDA margins, with valuation multiples at the bottom.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 42, "componentCount": 6, "textChars": 258, "nDataPoints": 44, "notes": "The slide uses grouped bar charts for revenue growth and single bar charts for EBITDA margins, with valuation multiples at the bottom.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:09.219+00", "seconds": 6.658, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/35", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-35", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.25, "w": 0.45, "x": 0.52, "y": 0.15 }, "kind": "chart", "text": "Data Revenue Growth", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.219+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4f154bd1-1042-4788-b0f2-7cf3faa27cab", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.04, "y": 0.15 }, "kind": "chart", "text": "Wireless Revenue Growth", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.219+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9ec7b204-d5d5-4139-9e39-52b2d4d93537", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.04, "y": 0.5 }, "kind": "chart", "text": "Wireless 2019 EBITDA Margin", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.219+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7643efa0-5634-4af2-9119-8cb737b87b21", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.52, "y": 0.5 }, "kind": "chart", "text": "Data 2019 EBITDA Margin", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.219+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "eb0654b5-f879-4e81-81d1-0be7fa3f4006", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.04, "y": 0.85 }, "kind": "disclaimer", "text": "Source: Factset (as of 6/26/20), Company filings, Wall Street research, GCI Management. Note: GCI not pro forma for sale of DMH.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.219+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "819949d2-cbd7-4704-957b-48e768577610", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "GCI Benchmarking vs Public Comparables", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.219+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "576694ed-2950-4464-ad63-907cc7fc8c55", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "2x2 matrix", "slug": "matrix-2x2", "status": "active", "bestFor": null, "canonId": "019dd9e1-50ab-72d1-8afb-3ab0a38e32a8", "version": 1, "bodyDocId": null, "description": "BCG matrix, importance/urgency, any axes-and-quadrants frame.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "c43c93bd-22a2-4729-ba2c-9644ee5d71b5", "evidence": "Wireless 2019 EBITDA Margin, Data 2019 EBITDA Margin", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.5, "extraction": { "at": "2026-07-16 23:28:40.151637+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 35, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 36, "type": "analysis", "function": "analyze_data", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "sparse", "densityScore": 21, "componentCount": 3, "textChars": 259, "nDataPoints": 9, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:05.632+00", "seconds": 2.916, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/36", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-36", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.35, "x": 0.044, "y": 0.905 }, "kind": "source-note", "text": "Source: Wall Street research (FBN 6.1.20, EVR 6.15.20, Pivotal 5.11.20)", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.632+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7f8998f9-cf5e-46e4-a543-adde0a4b025d", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.91, "x": 0.044, "y": 0.215 }, "kind": "table", "text": "FBN, EV / Estimated EBITDA, $304, 8.0x, $2,434; Evercore ISI, EV / 2020E EBITDA, $278, 8.0x, $2,225; Pivotal, 15% discount to Liberty purchase price, N/A, N/A, $2,278", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.632+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2cedd4ea-dded-45a3-9256-412a32aafee2", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.044, "y": 0.088 }, "kind": "title", "text": "GCI Analyst Valuations", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.632+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c332f7c3-f598-4185-8795-063d1844e6ad", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "a75b512c-0df1-4568-b57a-24ac8747a14d", "evidence": "table/data: FBN, EV / Estimated EBITDA, $304, 8.0x, $2,434; Evercore ISI, EV / 2020E EBITDA, $278, 8.0x, $2,225; Pivotal, 15% discount to Liberty purchase price, N/A, N/A, $2,278", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 03:30:54.647315+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 36, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 37, "type": "setup", "title": "The slide uses a before-and-after structure to illustrate the change in corporate ownership and voting power.", "function": "summarize", "rawType": "business_case", "block": null, "metadata": { "slideType": "business_case", "slideTypeCanon": { "name": "Business case", "slug": "business_case", "status": "active", "canonId": "019de52d-0e16-7764-9eec-dceac9d5f517", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "dense", "densityScore": 50, "componentCount": 5, "textChars": 705, "nDataPoints": 12, "notes": "The slide uses a before-and-after structure to illustrate the change in corporate ownership and voting power.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:06.856+00", "seconds": 3.977, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/37", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-37", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.3, "w": 0.9, "x": 0.05, "y": 0.2 }, "kind": "diagram", "text": "Pre-transaction and Pro Forma structure diagrams showing economic and voting interests.", "attrs": null, "canon": { "kind": { "name": "Diagram", "slug": "diagram", "status": "active", "canonId": "019de52c-f9f0-734a-81de-15382ff28c65", "version": 1, "description": "Schematic or relational diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": "other", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.856+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "991bb483-5699-4f04-a664-dac321b1d9e2", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.9, "x": 0.05, "y": 0.55 }, "kind": "list", "text": "Barry Diller and the Malones terminated the proxy arrangement; Expedia Group acquired Liberty Expedia; Exchange ratio details; Reduction of shares; No longer a controlled company.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.856+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6428a770-5990-4b0e-88be-c223e3107a76", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.13 }, "kind": "paragraph", "text": "On July 26, 2019, Expedia closed the acquisition of Liberty Expedia in a transaction in which the shareholders of Liberty Expedia exchanged their stock for the stock of Expedia", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.856+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8202f15b-e8ac-4bc9-a47a-4bf5337bb2e2", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.05, "y": 0.88 }, "kind": "source-note", "text": "Source: Company filings. Note: Public ownership calculated as 100% minus the other listed owners. 1. LEMS II LLC was a wholly owned subsidiary of LEMS I LLC, which is a wholly owned subsidiary of Expedia Group", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.856+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ab1b67ce-73d6-4b6b-a91d-99b6d7cd43c9", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Transaction Overview – Expedia Group / Liberty Expedia", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.856+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "40254cac-ec89-4e5d-a698-cfc4e35023a9", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Audience Definition", "slug": "audience-definition", "status": "active", "bestFor": null, "canonId": "019dd956-7f2a-775d-aeee-ff099bcb7756", "version": 1, "bodyDocId": null, "description": "Six key questions: Who are they? What do they know? What do they believe? What do they care about? What do they fear? What decisions can they make?", "familyLabel": null, "categoryName": "Block", "categorySlug": "block" }, "agent": "Storyteller", "layer": "slide", "agents": [ "Storyteller" ], "matchId": "79f7d2a0-ee5e-4110-a72b-45d94481796b", "evidence": "Transaction Overview – Expedia Group / Liberty Expedia, indicating a focus on stakeholders involved in the transaction.", "pageRefs": null, "priority": "Core", "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-17 03:31:01.903022+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 37, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "7e608cba-7d6a-42fc-80c1-6d7c528b49a5", "evidence": "The slide explicitly contrasts 'Pre-transaction Structure' with 'Pro Forma Structure'.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:05:06.856+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 37, "frameworkName": "before-after-framing" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 38, "type": "analysis", "title": "The slide presents a valuation bridge and discount calculation based on transaction statistics and NAV components.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 5, "textChars": 404, "nDataPoints": 28, "notes": "The slide presents a valuation bridge and discount calculation based on transaction statistics and NAV components.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:05.963+00", "seconds": 3.073, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/38", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-38", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.87 }, "kind": "disclaimer", "text": "Source: FactSet (as of 2/1/19). 1. Proxy statement (5/1/19). 2. Implied valuation in proxy statement (5/1/19) derived by Moelis by applying terminal year EBITDA multiples ranging from 4.0x to 6.5x.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.963+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6394769b-4f46-410b-aac0-61fe2755b4ee", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.45, "x": 0.05, "y": 0.21 }, "kind": "table", "text": "Key Transaction Statistics table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.963+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "12584b7e-2962-4fca-b5eb-710986fd7c38", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.45, "x": 0.51, "y": 0.48 }, "kind": "table", "text": "Implied Discount Analysis table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.963+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "43fb1c91-e990-416d-9e62-6910f2d72e05", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.51, "y": 0.19 }, "kind": "table", "text": "Derivation of Implied Expedia Group Discount within Liberty Expedia table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.963+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f60a612c-7bcd-44dc-96d5-9a04e44125f1", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.8, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Implied Discount on Expedia Group in Liberty Expedia Merger Transaction", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.963+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5c1e9305-6adc-4430-ab99-1ed2bb4e1d79", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "0286947d-387d-4e2c-992a-2655f1063a91", "evidence": "Derivation of Implied Expedia Group Discount within Liberty Expedia table, Key Transaction Statistics table, Implied Discount Analysis table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:40.226212+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 38, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 39, "type": "analysis", "title": "Includes mean and median calculations for valuation multiples.", "function": "compare_peers", "rawType": "data_table", "block": null, "metadata": { "slideType": "data_table", "slideTypeCanon": { "name": "Data table", "slug": "data_table", "status": "active", "canonId": "019de52d-0bbd-71b9-9918-417f904abbf8", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 26, "componentCount": 3, "textChars": 299, "nDataPoints": 60, "notes": "Includes mean and median calculations for valuation multiples.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:05.994+00", "seconds": 2.907, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/39", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-39", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.4, "x": 0.04, "y": 0.82 }, "kind": "source-note", "text": "Source: Factset (as of 6/26/20), Company filings, Wall Street Research. Note: Balance sheet data as of 3/31/20.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.994+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "23f9446d-f142-4a07-b5f1-6dde66284f82", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.92, "x": 0.04, "y": 0.18 }, "kind": "table", "text": "Company, Share Price, Market Equity Value, Total Enterprise Value, TEV/EBITDA (2020, 2021), TEV/EBITDA-Capex (2020, 2021), Net Debt/EBITDA, Dividend Yield", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.994+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a6d0e272-1d87-48ad-8596-f8cdbefa2380", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "Selected Public Wireless Companies", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:05.994+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7cc0b269-4b4c-428c-ac04-51d34cf84a9f", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 40, "type": "analysis", "title": "Includes mean and median calculations for the peer group.", "function": "compare_peers", "rawType": "data_table", "block": null, "metadata": { "slideType": "data_table", "slideTypeCanon": { "name": "Data table", "slug": "data_table", "status": "active", "canonId": "019de52d-0bbd-71b9-9918-417f904abbf8", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 34, "componentCount": 3, "textChars": 473, "nDataPoints": 60, "notes": "Includes mean and median calculations for the peer group.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:06.139+00", "seconds": 2.906, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/40", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-40", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "disclaimer", "text": "Source: Factset (as of 6/26/20). Company filings, Wall Street Research. Note: Balance sheet data as of 3/31/20. 1. LTM EBITDA as of 3/31/20. 2. Based on the latest dividend declared; Comcast declared $0.23 dividend / share on 5/13/20; Cable One declared $2.25 dividend / share on 5/15/20.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.139+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5bb69ab3-de52-4281-a06a-f938bb4558ec", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "Company, Share Price, Market Equity Value, Total Enterprise Value, TEV/EBITDA (2020, 2021), TEV/EBITDA-Capex (2020, 2021), Net Debt/EBITDA, Dividend Yield", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.139+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "75ac39d8-f933-423c-a01c-386ca41f223a", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Selected Public Cable Companies", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.139+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6f0894ae-ff81-4c56-85c3-2783ed4c7810", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 41, "type": "analysis", "title": "Data as of 6/26/20.", "function": "compare_peers", "rawType": "data_table", "block": null, "metadata": { "slideType": "data_table", "slideTypeCanon": { "name": "Data table", "slug": "data_table", "status": "active", "canonId": "019de52d-0bbd-71b9-9918-417f904abbf8", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "sparse", "densityScore": 23, "componentCount": 3, "textChars": 239, "nDataPoints": 48, "notes": "Data as of 6/26/20.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:08.398+00", "seconds": 5.022, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/41", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-41", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.3, "x": 0.05, "y": 0.9 }, "kind": "source-note", "text": "Source: Factset (as of 6/26/20), Company filings, Wall Street Research", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.398+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "21a84a87-1daf-4f29-b6de-da93376bb3ae", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.9, "x": 0.05, "y": 0.0015 }, "kind": "table", "text": "Company, Share Price 6/26/20, Market Equity Value, Total Enterprise Value, TEV/Revenue 2020E, TEV/Revenue 2021E, Revenue Growth '20-'21", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.398+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "98a78bb0-ee28-43ef-bdb4-d9004d5dd7d4", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Selected Public Internet Companies", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.398+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4da2880d-3c73-4461-9819-643ee200317b", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "bfb18424-b6d1-4dd0-af40-c8004d6342df", "evidence": "components: table/data: Company, Share Price 6/26/20, Market Equity Value, Total Enterprise Value, TEV/Revenue 2020E, TEV/Revenue 2021E, Revenue Growth '20-'21", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.006334+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 41, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 42, "type": "setup", "title": "Data as of 6/26/20. Includes share price, market equity, TEV, TEV/Revenue multiples, and revenue growth.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 28, "componentCount": 4, "textChars": 247, "nDataPoints": 77, "notes": "Data as of 6/26/20. Includes share price, market equity, TEV, TEV/Revenue multiples, and revenue growth.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:06.297+00", "seconds": 2.841, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/42", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-42", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.25, "x": 0.7, "y": 0.13 }, "kind": "paragraph", "text": "($ in millions, except per share data)", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.297+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5c2da8fd-9af8-4756-8b32-40ffcc56b079", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.35, "x": 0.05, "y": 0.89 }, "kind": "source-note", "text": "Source: Factset (as of 6/26/20), Company filings, Wall Street Research", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.297+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "89b0da76-58bc-40dc-81e3-c650abb27c4e", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.9, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Financial metrics table for Integrated Solutions and Hardware/Modules segments", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.297+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "afced7fa-4c86-4f19-aade-bb282ee2b2e7", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.6, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Selected Public Telematics / Positioning Technology Companies", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.297+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ed08d67f-62e0-4941-ab6c-4db0f8cce529", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 43, "type": "evidence", "title": "Includes mean and median calculations for valuation multiples.", "function": "cite_precedent", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "cite_precedent", "functionCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-142b-714b-86d4-58aad7b568ec", "version": 1, "description": null }, "density": "balanced", "densityScore": 27, "componentCount": 3, "textChars": 333, "nDataPoints": 48, "notes": "Includes mean and median calculations for valuation multiples.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:06.183+00", "seconds": 2.696, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/43", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-43", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.5, "x": 0.05, "y": 0.82 }, "kind": "disclaimer", "text": "Note: Includes transactions above $1 billion; SBC included where information available. Source: Company filings and Wall Street research. (1)-(5) footnotes.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.183+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e8debb96-e56b-411b-b5ef-c243068e4d6a", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.9, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Table of 8 transactions with columns: Date, Acquiror, Target, Total Enterprise Value, TEV/LTM EBITDA (Pre-SBC), TEV/LTM EBITDA (Post-SBC)", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.183+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e8b41f57-27e0-44c8-8865-f1519c554e31", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.45, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Selected Wireless Precedent Transactions", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.183+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "476a60b0-f241-4731-871f-8a39a444e6d2", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "ce6c6ec7-d288-4bd7-9af6-67cd31574c42", "evidence": "components: table/data: Table of 8 transactions with columns: Date, Acquiror, Target, Total Enterprise Value, TEV/LTM EBITDA (Pre-SBC), TEV/LTM EBITDA (Post-SBC)", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.129952+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 43, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 44, "type": "evidence", "title": "Includes footnotes explaining the basis for EBITDA calculations for specific transactions.", "function": "cite_precedent", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "cite_precedent", "functionCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-142b-714b-86d4-58aad7b568ec", "version": 1, "description": null }, "density": "balanced", "densityScore": 27, "componentCount": 3, "textChars": 317, "nDataPoints": 50, "notes": "Includes footnotes explaining the basis for EBITDA calculations for specific transactions.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:06.791+00", "seconds": 2.824, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/44", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-44", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.4, "x": 0.05, "y": 0.8 }, "kind": "source-note", "text": "Source: Company filings, Wall Street Research; SBC included where information available. Footnotes 1-7 detailing EBITDA basis.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.791+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "162c9ed0-d05c-4e5e-b348-52af432e9bde", "parentComponentId": null }, { "bbox": { "h": 0.4, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "Table of 10 transactions with columns: Date Announced, Acquiror, Target, Total Enterprise Value ($mm), TEV/LTM EBITDA (Pre-SBC), TEV/LTM EBITDA (Post-SBC)", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.791+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "40e0ba87-3fea-4883-900c-eab438fa0a76", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Selected Cable Precedent Transactions", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:06.791+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "41ce7deb-c421-478a-a224-726a0de381db", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "66af9451-ebab-4838-bc9d-38f671971b00", "evidence": "components: table/data: Table of 10 transactions with columns: Date Announced, Acquiror, Target, Total Enterprise Value ($mm), TEV/LTM EBITDA (Pre-SBC), TEV/LTM EBITDA (Post-SBC)", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.209513+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 44, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 45, "type": "analysis", "title": "Includes sensitivity tables for Exit Perpetuity Growth and Implied TEV / Terminal EBITDA Multiple.", "function": "quantify_impact", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "quantify_impact", "functionCanon": { "name": "Quantify impact", "slug": "quantify_impact", "status": "active", "canonId": "019de52d-1630-720d-b57d-fa7f76bebd8d", "version": 1, "description": null }, "density": "dense", "densityScore": 50, "componentCount": 6, "textChars": 400, "nDataPoints": 120, "notes": "Includes sensitivity tables for Exit Perpetuity Growth and Implied TEV / Terminal EBITDA Multiple.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:08.093+00", "seconds": 4.074, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/45", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-45", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.4, "x": 0.05, "y": 0.88 }, "kind": "disclaimer", "text": "Source: GCI 2020 Budget Presentation Long Range Plan. Note: DCF analysis pro forma for DMH sale.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.093+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2110cf63-277a-4508-b997-fed68771895a", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.28, "x": 0.38, "y": 0.65 }, "kind": "table", "text": "Sensitivity analysis for Exit Perpetuity Growth.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Scenario table", "slug": "scenario", "status": "active", "canonId": "019de52d-0374-7778-b2bc-9f279d34d01f", "version": 1, "description": null }, "framework": null }, "subkind": "scenario", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.093+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4270195a-d15d-4364-98d5-4e2d1cbbef80", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.28, "x": 0.68, "y": 0.65 }, "kind": "table", "text": "Sensitivity analysis for Implied TEV / Terminal EBITDA Multiple.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Scenario table", "slug": "scenario", "status": "active", "canonId": "019de52d-0374-7778-b2bc-9f279d34d01f", "version": 1, "description": null }, "framework": null }, "subkind": "scenario", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.093+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f0c14870-9eba-4ad0-932c-2aeacdd333cd", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.3, "x": 0.05, "y": 0.65 }, "kind": "table", "text": "Terminal Value calculation table.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.093+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "95b57152-bdc2-4af2-81ab-965b714fcb9c", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "DCF projection table showing Revenue, EBITDA, EBIT, NOPAT, and Unlevered FCF from Q1'20A through 2023E and Terminal year.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.093+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9e775728-16c4-4fdc-b9ce-48ee39bbe301", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Discounted Cash Flow Valuation for GCI", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.093+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d84a4a56-d7ae-4040-bb12-a3deabfdec62", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Valuation: DCF", "slug": "dcf", "status": "active", "bestFor": null, "canonId": "019df269-2031-7273-9014-0c70beb91e11", "version": 1, "bodyDocId": "019df269-200e-76ea-8883-6ee35d39c836", "description": "You project free cash flows over an explicit forecast period (typically", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "6742c904-bc11-4bbd-92b5-7d9dd21ba092", "evidence": "components: table/valuation: DCF projection table showing Revenue, EBITDA, EBIT, NOPAT, and Unlevered FCF from Q1'20A through 2023E and Terminal year.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.290807+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 45, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "b0def3e5-8b59-4885-b89a-f0d3a1193c47", "evidence": "Standard discounted cash flow model structure", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:05:08.093+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 45, "frameworkName": "DCF Valuation" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 46, "type": "analysis", "title": "Includes detailed breakdown of Federal and Alaska state NOL utilization, tax rates, and discount factors.", "function": "analyze_data", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 35, "componentCount": 4, "textChars": 400, "nDataPoints": 80, "notes": "Includes detailed breakdown of Federal and Alaska state NOL utilization, tax rates, and discount factors.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:07.368+00", "seconds": 3.283, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/46", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-46", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.6, "x": 0.05, "y": 0.88 }, "kind": "source-note", "text": "Source: GCI Management. 1. Calculated as (1- federal tax rate 21%) multiplied by Alaska state tax rate 9.4%. 2. Assumes 0.17% discount rate for RHC FY16-19 Settlement impact based on 1-year treasury rate on 6/26/20.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.368+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "794bc1a6-f17d-454c-a122-606e3e449f88", "parentComponentId": null }, { "bbox": { "h": 0.55, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "GLIB NOL Valuation table with rows for Federal and State NOLs, benefits, and NPV calculations.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.368+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7abbd86e-9918-4626-9bcc-c28cf94bd122", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.75 }, "kind": "table", "text": "GLIB RHC FY19 Valuation table showing settlement and NPV.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.368+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c095f07c-6f80-4898-8f25-eeb57366bea8", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.45, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "GLIB NOL and RHC FY16-19 Valuation", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.368+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6e657446-ced4-4b7f-8fb0-9fb0bdc032b4", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "89477b80-5052-4d40-ba26-facf8e5e8dcb", "evidence": "components: table/valuation: GLIB NOL Valuation table with rows for Federal and State NOLs, benefits, and NPV calculations.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.372626+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 46, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 47, "type": "analysis", "title": "The slide uses a mid-year discounting methodology with a 6.75% WACC to arrive at a total NPV of $132 million.", "function": "quantify_impact", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "quantify_impact", "functionCanon": { "name": "Quantify impact", "slug": "quantify_impact", "status": "active", "canonId": "019de52d-1630-720d-b57d-fa7f76bebd8d", "version": 1, "description": null }, "density": "balanced", "densityScore": 33, "componentCount": 4, "textChars": 347, "nDataPoints": 80, "notes": "The slide uses a mid-year discounting methodology with a 6.75% WACC to arrive at a total NPV of $132 million.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:09.758+00", "seconds": 5.548, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/47", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-47", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.03, "w": 0.5, "x": 0.04, "y": 0.88 }, "kind": "source-note", "text": "Source: GCI Management. 1. Calculated as (1- federal tax rate 21%) multiplied by Alaska state tax rate 9.4%.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.758+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e3eae0a3-acb9-482d-9d8c-81ebd12f6f77", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.92, "x": 0.04, "y": 0.13 }, "kind": "subtitle", "text": "Valuation as of 3/31/20; using mid-year discounting; Assumes merger with LBRD ($ in millions)", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.758+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "02ecc4e1-5dbf-4cc4-b15a-0e9c36e73b33", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.92, "x": 0.04, "y": 0.18 }, "kind": "table", "text": "Detailed table showing Federal and State NOL utilization, tax benefits, and NPV calculations across years 2020E-2027E.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.758+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "048a055d-7c46-4d1a-acb9-55797e26c5a7", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.35, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "Pro Forma GLIB NOL Valuation", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:09.758+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d4d8b895-99c3-4815-a97e-d12e5062a5c0", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "dd48f8fc-e5d8-42eb-be2b-77cf98b31fe5", "evidence": "components: table/valuation: Detailed table showing Federal and State NOL utilization, tax benefits, and NPV calculations across years 2020E-2027E.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.452162+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 47, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 48, "type": "analysis", "title": "Includes mid-year discounting, terminal value calculation, and bridge from enterprise value to equity value per share.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 46, "componentCount": 5, "textChars": 498, "nDataPoints": 100, "notes": "Includes mid-year discounting, terminal value calculation, and bridge from enterprise value to equity value per share.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:07.098+00", "seconds": 2.686, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/48", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-48", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.3, "x": 0.05, "y": 0.88 }, "kind": "source-note", "text": "Source: Company Filings, Wall Street Research. 1. Represents YoY revenue growth rate from 2020E. 2. NWC projections based on Wall Street research model.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.098+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "884711c0-8569-4f5f-b76c-62cb85dc8ce8", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.45, "x": 0.05, "y": 0.65 }, "kind": "table", "text": "Sensitivity analysis tables for Total Enterprise Value and Implied Equity Value / Share based on WACC and exit multiples.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.098+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1044455e-7b29-49be-831d-679bfeca63be", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.4, "x": 0.55, "y": 0.6 }, "kind": "table", "text": "Terminal value calculation and bridge to Implied Equity Value per share.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.098+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3fca3c2e-0b69-462d-bb6d-70b9400cc49c", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "DCF projection table showing revenue, EBITDA, EBIT, NOPAT, and Unlevered FCF from Q1'20A through Terminal year.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.098+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8ccca3f4-62e3-41c4-aa0f-92db9586a4ab", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.45, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Discounted Cash Flow Valuation for Charter", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.098+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "002758e9-6e2e-4277-9cc8-55f6c214bd1d", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Valuation: DCF", "slug": "dcf", "status": "active", "bestFor": null, "canonId": "019df269-2031-7273-9014-0c70beb91e11", "version": 1, "bodyDocId": "019df269-200e-76ea-8883-6ee35d39c836", "description": "You project free cash flows over an explicit forecast period (typically", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "d6c1880a-ab8f-4100-89e5-340f0007a90a", "evidence": "components: table/valuation: DCF projection table showing revenue, EBITDA, EBIT, NOPAT, and Unlevered FCF from Q1'20A through Terminal year.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.535251+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 48, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 49, "type": "analysis", "title": "Includes mid-year discounting assumptions and specific WACC of 6.0%.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 40, "componentCount": 4, "textChars": 554, "nDataPoints": 24, "notes": "Includes mid-year discounting assumptions and specific WACC of 6.0%.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:11.58+00", "seconds": 7.081, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/49", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-49", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.03, "w": 0.3, "x": 0.04, "y": 0.88 }, "kind": "source-note", "text": "Source: Company filings. 1. Represents NOL balance at the end of Q1 2020", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:11.58+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "aaeccae4-2409-4b29-99d1-5358fbae2c99", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.92, "x": 0.04, "y": 0.12 }, "kind": "subtitle", "text": "Valuation as of 3/31/20; using mid-year discounting ($ in millions)", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:11.58+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "32b1dc30-9e2a-49a2-94d1-f89854fd08fc", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.92, "x": 0.04, "y": 0.18 }, "kind": "table", "text": "EBT (Pre-NOL) $2,811 $4,837 Less: NOL Usage (2,811) (3,770) EBT (Post NOL) $ - $1,067 NOLs Beg. of Period $6,581 $3,770 Plus: Accumulation - - Less: Usage (2,811) (3,770) End of Period $3,770 $ - Tax Benefits at 21% Federal Income Tax Rate $590 $792 PV of Total Federal NOLs at 6.0% WACC $578 $736 NPV of Federal NOLs at 6.0% WACC $1,314 Memo Discount Period 0.38 1.25 Discount Factor 0.98 0.93", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:11.58+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f4f8171f-4cc7-4a70-a08b-9eb0e8e5abda", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "Charter NOL Valuation", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:11.58+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a2f77838-2cea-465e-bf2d-120c262c983b", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "f3bec11d-9dcd-453d-93d6-8f6dc07688cc", "evidence": "components: table/valuation: EBT (Pre-NOL) $2,811 $4,837 Less: NOL Usage (2,811) (3,770) EBT (Post NOL) $ - $1,067 NOLs Beg. of Period $6,581 $3,770 Plus: Accumulation - - Less: Usage (2,811) (3,770) End of Period $3,770 $ - Tax Ben", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.615744+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 49, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 50, "type": "analysis", "title": "The chart tracks performance from March 2018 to June 2020.", "function": "analyze_data", "rawType": "data_table", "block": null, "metadata": { "slideType": "data_table", "slideTypeCanon": { "name": "Data table", "slug": "data_table", "status": "active", "canonId": "019de52d-0bbd-71b9-9918-417f904abbf8", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 43, "componentCount": 6, "textChars": 279, "nDataPoints": 30, "notes": "The chart tracks performance from March 2018 to June 2020.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:08.013+00", "seconds": 3.433, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/50", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-50", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.9, "x": 0.04, "y": 0.25 }, "kind": "chart", "text": "Line chart showing indexed performance of three stocks from Mar-18 to Jun-20.", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.013+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6e5942d5-1127-4ed2-b5b2-bcf7882ca24d", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.2, "x": 0.4, "y": 0.92 }, "kind": "legend", "text": "LBRDK, GLIBA, TREE", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.013+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5933380c-ce71-4fdc-961a-3ba7fb6c725e", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.5, "x": 0.04, "y": 0.13 }, "kind": "paragraph", "text": "LBRD Series C shares, GLIB Series A shares and LendingTree", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.013+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f11d7016-cd53-4c25-b3cb-6842b47b67fe", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.1, "x": 0.04, "y": 0.92 }, "kind": "source-note", "text": "Source: FactSet", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.013+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4fff9d44-77ab-4cf7-a295-6bd5c0a7915a", "parentComponentId": null }, { "bbox": { "h": 0.22, "w": 0.55, "x": 0.12, "y": 0.21 }, "kind": "table", "text": "Table of share prices for LBRDK, GLIBA, and LTREE across various time intervals.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.013+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "52546248-c3ff-4a85-9fae-80c1e753de95", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "Indexed Stock Price Performance", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:08.013+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d9564a7a-4dda-4e82-8d1c-149de7d98184", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "4ec24301-a4bb-4bb1-a479-8350c0acbd96", "evidence": "components: table/data: Table of share prices for LBRDK, GLIBA, and LTREE across various time intervals.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.697099+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 50, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 51, "type": "analysis", "title": "Includes sensitivity tables for WACC based on Unlevered Beta vs Target D/EV and Cost of Debt vs Target D/EV.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 37, "componentCount": 5, "textChars": 294, "nDataPoints": 250, "notes": "Includes sensitivity tables for WACC based on Unlevered Beta vs Target D/EV and Cost of Debt vs Target D/EV.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:12.04+00", "seconds": 7.457, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/51", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-51", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.5, "x": 0.05, "y": 0.85 }, "kind": "disclaimer", "text": "Source: Company filings, Wall Street research, Factset (6/26/20). Includes footnotes 1-5.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:12.04+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a8790534-fa6a-45d7-b140-a498c94e9627", "parentComponentId": null }, { "bbox": { "h": 0.75, "w": 0.35, "x": 0.6, "y": 0.15 }, "kind": "table", "text": "Sensitivity tables for Wireless and Cable WACC.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:12.04+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "09c9a8ac-4f83-4478-9e03-5e23cf25fe22", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.55, "x": 0.05, "y": 0.65 }, "kind": "table", "text": "Bottom-up cost of equity and WACC calculation table.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:12.04+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d075d816-1030-4e17-a25f-bcde7cc371bd", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.55, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "Peer company financial data including share price, market equity, debt, and beta metrics.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:12.04+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fb66db71-8b33-42c4-b4ec-30b850239dbf", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "GCI WACC Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:12.04+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "25b27faa-c974-447b-a08b-ab39fbee1033", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "89e5d18f-9dea-423e-b3f1-a1b95bc862c0", "evidence": "components: table/data: Peer company financial data including share price, market equity, debt, and beta metrics.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.778226+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 51, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 52, "type": "analysis", "title": "Includes peer group market data (Zillow, Angie's List, Tripadvisor, Yelp, Eventbrite, Cars.com) and a bottoms-up WACC calculation for internet comps.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 32, "componentCount": 4, "textChars": 332, "nDataPoints": 84, "notes": "Includes peer group market data (Zillow, Angie's List, Tripadvisor, Yelp, Eventbrite, Cars.com) and a bottoms-up WACC calculation for internet comps.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:07.421+00", "seconds": 2.792, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/52", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-52", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.6, "x": 0.04, "y": 0.85 }, "kind": "disclaimer", "text": "Source: Company filings, Wall Street research, Factset (6/26/20). Footnotes 1-4 detailing calculation methodology.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.421+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b3b52ace-eb26-4b54-9694-911bc6b2ce6d", "parentComponentId": null }, { "bbox": { "h": 0.18, "w": 0.4, "x": 0.292, "y": 0.57 }, "kind": "table", "text": "Bottoms up internet comps WACC calculation table.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.421+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0fec21e9-cfeb-4bcd-8e67-555aad2e68dd", "parentComponentId": null }, { "bbox": { "h": 0.28, "w": 0.92, "x": 0.04, "y": 0.18 }, "kind": "table", "text": "Peer company market data table including share price, market equity value, debt, preferred stock, debt+preferred/capital, and adjusted/unlevered beta.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.421+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "713a671c-0692-46b8-bcce-ef6ab83b67eb", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "Evite WACC Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.421+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0f86adea-66f3-46d0-96fe-7e951d034add", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "711ed136-010d-459f-aefd-9d235f04905a", "evidence": "components: table/data: Peer company market data table including share price, market equity value, debt, preferred stock, debt+preferred/capital, and adjusted/unlevered beta.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:28:51.860953+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 52, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 53, "type": "analysis", "title": "Includes peer group beta analysis and a bottoms-up WACC calculation.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 37, "componentCount": 4, "textChars": 436, "nDataPoints": 150, "notes": "Includes peer group beta analysis and a bottoms-up WACC calculation.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:07.911+00", "seconds": 3.125, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/53", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-53", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "disclaimer", "text": "Source: Company filings, Wall Street research, Factset (6/26/20). 1. Unlevered Beta calculated as: 2-year Adjusted Beta / [1+(1-tax rate)*(D+P/E)]. 2. 20-year U.S. Treasury bond yields as of 6/26/20. 3. Duff and Phelps 2020 Handbook...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.911+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0d2ea4e7-08c7-4d7f-87bb-f1a9a9c6ca8e", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "Peer group financial data including share price, market equity, debt, and beta metrics.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.911+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b1922ae4-be69-4949-aedd-8369d9c8da48", "parentComponentId": null }, { "bbox": { "h": 0.18, "w": 0.43, "x": 0.285, "y": 0.615 }, "kind": "table", "text": "Bottoms Up WACC calculation table showing cost of equity and target debt/capital assumptions.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.911+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7d5e84d6-0ae5-40b7-9867-a2fb13fa660e", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Skyhook WACC Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.911+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2a00cf68-997e-4803-b677-f1d76685312c", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Valuation: DCF", "slug": "dcf", "status": "active", "bestFor": null, "canonId": "019df269-2031-7273-9014-0c70beb91e11", "version": 1, "bodyDocId": "019df269-200e-76ea-8883-6ee35d39c836", "description": "You project free cash flows over an explicit forecast period (typically", "familyLabel": "valuation-move", "categoryName": "Analysis", "categorySlug": "analysis" }, "agent": "architect", "layer": "slide", "agents": [ "architect" ], "matchId": "f849cc42-947e-4ede-95d6-3677f96f2608", "evidence": "Bottoms Up WACC calculation table showing cost of equity and target debt/capital assumptions.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:28:41.655279+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 53, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "b7c02af9-c761-47d2-9c55-358dcbde4e7f", "evidence": "Bottoms up WACC calculation table", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:05:07.911+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 53, "frameworkName": "WACC Calculation" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 54, "type": "analysis", "title": "Includes two sensitivity tables showing WACC/Cost of Equity variations based on Cost of Debt and Risk-free Rate inputs.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 42, "componentCount": 6, "textChars": 241, "nDataPoints": 80, "notes": "Includes two sensitivity tables showing WACC/Cost of Equity variations based on Cost of Debt and Risk-free Rate inputs.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:05:07.977+00", "seconds": 2.762, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de070-1e66-763e-aca2-f25d3f6f8200/54", "deck": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200", "deckAnchor": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200#slide-54", "deckJson": "/decks/019de070-1e66-763e-aca2-f25d3f6f8200.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.4, "x": 0.55, "y": 0.215 }, "kind": "chart", "text": "Cost of Debt sensitivity table 1", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Heatmap", "slug": "heatmap", "status": "active", "canonId": "019de52d-00cd-71ee-bf36-233b7817c304", "version": 1, "description": null }, "framework": null }, "subkind": "heatmap", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.977+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5708175d-583b-469c-a864-d3113954396b", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.4, "x": 0.55, "y": 0.45 }, "kind": "chart", "text": "Cost of Debt sensitivity table 2", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Heatmap", "slug": "heatmap", "status": "active", "canonId": "019de52d-00cd-71ee-bf36-233b7817c304", "version": 1, "description": null }, "framework": null }, "subkind": "heatmap", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.977+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6d9589ac-8ef1-4693-974d-b6d75cde3ddd", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.5, "x": 0.04, "y": 0.83 }, "kind": "disclaimer", "text": "Source: Company filings, Wall Street research, Factset (6/26/20). 1-5 footnotes detailing methodology.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.977+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d7e4e9bc-ad94-4426-b415-e81b4175a525", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.4, "x": 0.04, "y": 0.215 }, "kind": "table", "text": "Cost of Equity calculation table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.977+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8c9ae212-67fb-4600-90b2-385f07f65db1", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.4, "x": 0.04, "y": 0.45 }, "kind": "table", "text": "WACC calculation table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.977+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ac92e3c0-e953-44aa-ac32-dae3375ae887", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.04, "y": 0.08 }, "kind": "title", "text": "Charter WACC Analysis", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:05:07.977+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "62aaae57-decb-4e1b-b767-05a1e2b942ef", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true } ], "arcBeats": [], "loops": [] }