EX-99.1
2
a50674934ex99_1.htm
EXHIBIT 99.1
Exhibit 99.1
Alaska
Communications and GCI Announce Closing of The Alaska Wireless Network,
LLC
Venture
to Offer Alaskans Best Wireless Experience in Alaska
ANCHORAGE, Alaska--(BUSINESS WIRE)--July 23, 2013--Alaska Communications
(NASDAQ:ALSK) and General Communication, Inc. ("GCI") (NASDAQ:GNCMA)
today announced the companies have completed the previously announced
transaction to form The Alaska Wireless Network, LLC ("AWN").
Alaska Communications and GCI, leading wireless providers in Alaska,
have each contributed their respective wireless assets, including
spectrum licenses, cell sites, backhaul facility usage rights, and other
assets necessary for AWN to design, build, and operate a statewide
wireless network. From the start, AWN's network will cover more of
Alaska's population than the network of any other wireless provider. AWN
will provide the latest wireless services, including LTE, to its owners,
Alaska Communications and GCI. Alaska Communications and GCI will
independently sell these services to their respective retail customers
and continue to operate as competitors in Alaska.
"The wireless business is capital intensive, requires scale to compete
successfully against national carriers, and demands more spectrum than
either of our two companies individually owns", said Alaska
Communications President and CEO Anand Vadapalli and GCI President and
CEO Ron Duncan. "By combining our respective wireless assets, we can
provide a state-of-the-art Alaska wireless network owned and operated by
Alaskans for Alaskans. We believe that The Alaska Wireless Network will
provide the fastest, most geographically extensive, and most reasonably
priced wireless services for Alaska subscribers, allowing us each to
compete more effectively in the retail market".
Under the transaction, Alaska Communications owns one third and GCI owns
two thirds of AWN. Under the terms of the agreement, Alaska
Communications will receive $100 million cash and is eligible to receive
preferred distributions totaling up to $190 million over the first four
years of operation. GCI will receive all remaining available
distributions over the first four years. Distributions thereafter will
be on a pro rata ownership basis.
Evercore acted as financial advisor to Alaska Communications, with The
Stephens Group providing an additional fairness opinion.
About Alaska Communications
Alaska Communications is a leading provider of advanced broadband
solutions for businesses and consumers in Alaska. We operate 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
A pioneer in bundled services, GCI is a top provider of voice, data, and
video services to Alaska consumers with a 70 percent share of the
consumer broadband market. GCI is also the leading provider of
communications services to enterprise customers, particularly large
enterprise customers with complex data networking needs. More
information about GCI can be found 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 Alaska
Communications' or GCI's control. For further information regarding
risks and uncertainties associated with either company's business,
please refer to either Alaska Communications' or GCI's SEC filings.
CONTACT:
Alaska Communications
Investor relations: Wayne Graham,
907-564-7756
Media relations: Heather Cavanaugh, 907-564-7722
or
GCI
Investor
Relations: Tom Chesterman, 907-868-1585
tchesterman@gci.com
Media
Relations: David Morris, 907-265-5396
dmorris@gci.com

EX - 99 . 1 2 a50674934ex99 _ 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 Alaska Communications and GCI Announce Closing of The Alaska Wireless Network , LLC Venture to Offer Alaskans Best Wireless Experience in Alaska ANCHORAGE , Alaska -- ( BUSINESS WIRE ) -- July 23 , 2013 -- Alaska Communications ( NASDAQ : ALSK ) and General Communication , Inc . ( " GCI " ) ( NASDAQ : GNCMA ) today announced the companies have completed the previously announced transaction to form The Alaska Wireless Network , LLC ( " AWN " ) . Alaska Communications and GCI , leading wireless providers in Alaska , have each contributed their respective wireless assets , including spectrum licenses , cell sites , backhaul facility usage rights , and other assets necessary for AWN to design , build , and operate a statewide wireless network . From the start , AWN 's network will cover more of Alaska 's population than the network of any other wireless provider . AWN will provide the latest wireless services , including LTE , to its owners , Alaska Communications and GCI . Alaska Communications and GCI will independently sell these services to their respective retail customers and continue to operate as competitors in Alaska . " The wireless business is capital intensive , requires scale to compete successfully against national carriers , and demands more spectrum than either of our two companies individually owns " , said Alaska Communications President and CEO Anand Vadapalli and GCI President and CEO Ron Duncan . " By combining our respective wireless assets , we can provide a state - of - the - art Alaska wireless network owned and operated by Alaskans for Alaskans . We believe that The Alaska Wireless Network will provide the fastest , most geographically extensive , and most reasonably priced wireless services for Alaska subscribers , allowing us each to compete more effectively in the retail market " . Under the transaction , Alaska Communications owns one third and GCI owns two thirds of AWN . Under the terms of the agreement , Alaska Communications will receive $ 100 million cash and is eligible to receive preferred distributions totaling up to $ 190 million over the first four years of operation . GCI will receive all remaining available distributions over the first four years . Distributions thereafter will be on a pro rata ownership basis . Evercore acted as financial advisor to Alaska Communications , with The Stephens Group providing an additional fairness opinion . About Alaska Communications Alaska Communications is a leading provider of advanced broadband solutions for businesses and consumers in Alaska . We operate 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 A pioneer in bundled services , GCI is a top provider of voice , data , and video services to Alaska consumers with a 70 percent share of the consumer broadband market . GCI is also the leading provider of communications services to enterprise customers , particularly large enterprise customers with complex data networking needs . More information about GCI can be found 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 Alaska Communications ' or GCI 's control . For further information regarding risks and uncertainties associated with either company 's business , please refer to either Alaska Communications ' or GCI 's SEC filings . CONTACT : Alaska Communications Investor relations : Wayne Graham , 907 - 564 - 7756 Media relations : Heather Cavanaugh , 907 - 564 - 7722 or GCI Investor Relations : Tom Chesterman , 907 - 868 - 1585 tchesterman@gci.com Media Relations : David Morris , 907 - 265 - 5396 dmorris@gci.com
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