ANCHORAGE, Alaska, Feb. 2, 2015 /PRNewswire/ -- Alaska
Communications (NASDAQ: ALSK) and General Communication, Inc.
("GCI") (NASDAQ:GNCMA) today announced the companies have completed
the previously announced transaction for Alaska Communications to
sell its wireless subscriber base and its one-third interest in the
Alaska Wireless Network, LLC ("AWN") to GCI for $300 million.
Under the terms of the agreement, GCI assumed Alaska
Communications' wireless subscribers. Services will be
uninterrupted.
The two companies have agreed upon a service transition plan for
former Alaska Communications wireless customers. This will ensure a
seamless continuation of service as wireless customers are
transitioned to GCI.
Alaska Communications and GCI will notify customers with further
details regarding the transition and customers do not need to take
any action at this time.
About Alaska Communications
Alaska Communications (NASDAQ: ALSK) is a leading provider of
advanced broadband and managed service solutions for businesses and
consumers in Alaska. The Company
operates a highly reliable, advanced statewide data and voice
network with the latest technology and the most diverse undersea
fiber optic system connecting Alaska to the contiguous United States. For more information, visit
www.alaskacommunications.com or www.alsk.com.
About GCI
GCI is the largest Alaska-based
and -operated, integrated telecommunications provider, offering
wireless, voice, data, and video services statewide. Learn more
about GCI at www.gci.com.
Forward-Looking Statements
This joint release includes certain "forward-looking
statements," as that term is defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on management's beliefs as well as on a number of assumptions
concerning future events made using information currently available
to management. Readers are cautioned not to put undue reliance on
such forward-looking statements, which are not a guarantee of
performance and are subject to a number of uncertainties and other
factors, many of which are outside GCI's or Alaska Communications'
control. For further information regarding risks and uncertainties
associated with either company's business, please refer to either
GCI's or Alaska Communications' SEC filings.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/alaska-communications-closes-transaction-of-selling-wireless-business-to-gci-for-300-million-300029307.html
SOURCE GCI