GCI Reaches Agreement in Acquisition of Alaska Wireless Communications
GCI continues rural wireless expansion with purchase of Dutch Harbor company
ANCHORAGE, Alaska, Sept. 20 / -- GCI (NASDAQ:GNCMA) announced today the acquisition of Alaska Wireless Communications, LLC. Alaska Wireless is a GSM cellular provider with subscribers in the Dutch Harbor area. Alaska Wireless is locally owned and operated, and began providing service in February 2003.
In addition to the acquisition, GCI has entered into a management agreement with the existing owners of Alaska Wireless. The business will continue to operate under the Alaska Wireless name and the current management team will continue to run the day-to-day operation.
"We place a high premium in the abilities of the Alaska Wireless team," said Ron Duncan, president and CEO of GCI. "Much of the value of our agreement comes not only from the network that's in place, but also in the expertise, energy and vision their employees and management team will bring to our organization."
"This purchase is another step in GCI's commitment to rural wireless expansion," said Mark Horne, president of Alaska Wireless. "We are thrilled to join the GCI team and are committed to the continued growth of our company and the community we serve."
A memorandum of understanding has been signed by both parties. The transaction is subject to FCC approval, which is expected by the end of the year.
GCI is the largest Alaska-based and operated integrated telecommunications provider. A pioneer in bundled services, GCI provides local, wireless, and long distance telephone, cable television, Internet and data communication services. More information about the company can be found at http://www.gci.com/.
Source: GCI
CONTACT:David Morris of GCI, +1-907-265-5396, dmorris@gci.com
Web site: http://www.gci.com/
