Colorado-based conglomerate buys GCI

Colorado-based conglomerate buys GCI

access_time 7 months ago

Colorado-based conglomerate buys GCI

GCI’s president and CEO in the 80s. (Photo courtesy of GCI)

Alaska’s largest telecommunications company, GCI, has been acquired by a larger conglomerate.

Colorado-based Liberty Interactive Corp. reportedly bought GCI for $1.12 billion. The larger conglomerate has holdings in other telecommunications companies under the name Liberty Ventures, as well as home shopping cable channels HSN and QVC under the name QVC Group Inc.

GCI said little will change for Alaskans who use its cable, phone and internet services.

“We will continue to run the company with our focus on providing the best value for Alaska customers, offering opportunities for our employees and investing wisely in the Alaska market,” GCI CEO Ron Duncan said in a written statement.

According to GCI, it will keep its leadership and other employees intact in Alaska. The written statement outlining the deal said GCI — soon to be GCI Liberty — will remain an Alaska-based company as of the deal’s closing, but a special shareholder meeting will soon be called to vote on incorporating in Delaware.

This story will be updated.

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Published at Tue, 04 Apr 2017 19:19:13 +0000

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