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Article: GCI Announces $29.5 Million Investment in Alaska DigiTel, LLC.
- Article from:
- PR Newswire
- Article date:
- December 8, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ANCHORAGE, Alaska, Dec. 7 /PRNewswire-FirstCall/ -- General Communication, Inc. ("GCI") announced today that it reached a definitive agreement to invest $29.5 million in Alaska DigiTel, LLC ("AKD"), an Alaska wireless provider. In exchange for the investment, GCI will receive a majority equity interest in AKD but will not own voting control of the venture. The investment will allow AKD to buy out certain investors, refinance most of its outstanding debt and maintain its existing business plan.
GCI will acquire its interest as a passive investment and does not plan any further direct business or resale relationships with AKD at this time. Under the agreement GCI ...
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