Liberty’s not backing away from Charter after its unsuccessful attempt to buy Time Warner Cable. No, it’s stepping things up, outlining a plan late Thurs to fund the MSO’s expansion by creating a tracking stock called Liberty Broadband. The stock will include Liberty’s 25% stake in Charter, with rights being sold for investments in new business opportunities. At the same time, Liberty said it is abandoning its bid for full control of Sirius XM. More details here.

More top stories in today’s CableFAX Daily:

 
The City of L.A. announced the filing of a $10mln lawsuit against Time Warner Cable Fri, alleging the MSO has refused to pay franchise and PEG fees owed to the city.
 
Cablevision may be planning on filing a motion for summary judgment in GSN’s carriage complaint against it (CFX, 3/10), but the FCC Administrative Law Judge presiding over the case has some words of caution.
 
The FCC Wireline Competition Bureau authorized $16.7mln in additional Phase I second round incremental support to AT&T and Windstream from the Connect America Fund. Here’s the story.

The Daily

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Nexstar Media Group Realigning

Nexstar Media Group will combine its two primary operating subsidiaries, beginning Nov 1. Nexstar Digital and Nexstar Broadcasting will merge into a single operating subsidiary. The company said the new

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