GCI Buying Alaska Comm Wireless Business

Alaska Communications System Group (NASDAQ:ALSK) and GCI (NASDAQ:GNCMA) have signed definitive agreements for Alaska Communications to sell its wireless subscriber base and its 33% interest in its partnership in the Alaska Wireless Network (AWN) to GCI for $300 million. The transaction is targeted to close in the first quarter of 2015.

Under the terms of the agreements, GCI will assume Alaska Communications' wireless subscriber base and will own 100% of AWN. Services are expected to be uninterrupted and to continue to operate statewide and nationally. As of Sept. 30, Alaska Communications had approximately 109,000 wireless customers.