Bloomberg

John Malone and his former colleagues on Charter’s board agreed to an $87.5 million settlement of claims the billionaire unfairly benefited from the $79 billion purchase of Time Warner Cable he helped finance. The accord disclosed in a Delaware court filing resolves an investor’s lawsuit against directors of the second-largest US cable company over their handling of the 2016 deal. The money will come from insurance covering directors named in the suit and will go into Charter’s coffers, not to the shareholder who filed the case.

The Federal Communications Commission is investigating whether broadband-service providers exaggerated their level of coverage to authorities preparing to distribute billions of dollars in subsidies. At issue are claims by carriers that they already provide high-speed internet service to rural and other underserved areas where it’s not actually available. The Biden administration is awarding $42.5 billion to increase access in these locations. Areas served and unserved are being marked on a map compiled by the FCC.

Tiny Gerlach, NV, looks like the ideal place to receive some of the $42.5 billion in Broadband Equity, Access, and Deployment (BEAD) funding targeted to provide internet access to underserved areas. There’s just one catch: The town of 161, gateway to the state’s Black Rock Desert, already has broadband access, according to a government map showing that T-Mobile US Inc. provides service there.