Exhibit (c)(11)
 | Confidential Trading Update ($ in millions, except per share data) Proposal Summary (Notional Value) Share Price Reaction (6/30/20) Unaffected Today (6/29) (6/30) 8.5% Exchange Ratio 0.58x 0.58x LBRD Series C Share Price $124.98 $123.96 Implied GLIB Series A Offer Price $72.49 $71.90 Implied GLIB Series A Purchase Premium (%) 8.1% 1.1% 1 Implied GLIB Series A FDSO 102.0 102.0 Implied GLIB Purchase Price for GLIB Series A Shares $7,392 $7,332 LBRD Series B Share Price $124.00 $124.00 Implied GLIB Series B Offer Price $71.92 $71.92 Implied GLIB Series B Purchase Premium (%) 2 7.2% (1.2%) (0.8%) Implied GLIB Series B FDSO 4.8 4.8 LBRD Series C LBRD Series B GLIB Series A GLIB Series B Charter S&P 500 Implied GLIB Purchase Price for GLIB Series B Shares $342 $342 3 Net Debt (3/31/20) $3,141 $3,141 Volume Today (in thousands) 2,760 0 2,722 0 1,256 NA Source: Factset Note: Voting interest assumes exercise of all stock options by Liberty Management 1. 2. 3. Calculated using treasury stock method with implied GLIB Series A offer price Calculated using treasury stock method with implied GLIB Series B offer price Includes the 1.75% exchangeable senior debentures valued on a trading value basis as of 6/29/20; book value as of 3/31/20 of $477mm 4. No trading volume reported on 6/30/20 Total Enterprise Value $10,875 $10,815 Unaffected (6/29) $124.98 $124.00 $67.05 $67.10 $509.22 3,053.24 Today (6/30) $123.96 $124.00 $71.12 $72.80 $510.04 3,100.29 4 30-day ADTV (in thousands) 776 0 541 0 1,149 NA Implied GLIB Purchase Price $7,735 $7,674 6.1% 1.5% 0.0% 0.2% |