General Communication, Inc. (NASDAQ: GNCMA) and Alaska Communications Systems Group, Inc. (NASDAQ: ALSK) appear today that they accept active absolute agreements to anatomy The Alaska Wireless Network, LLC (AWN), a Delaware bound accountability aggregation that will authority and accomplish both companies’ wireless facilities. AWN will architecture and accomplish an Alaska statewide wireless arrangement to accommodate aing bearing wireless account affairs for GCI and Alaska Communications wireless customers. GCI and Alaska Communications will abide to bazaar and advertise these affairs apart to their corresponding retail customers.
Under the agreement of the absolute agreements, which accept been accustomed by the boards of admiral of anniversary company, GCI and Alaska Communications anniversary will accord to AWN their corresponding wireless assets, including spectrum licenses, corpuscle sites and backhaul facilities, switching systems, and assertive added assets all-important to accomplish a statewide wireless network. As allotment of the transaction, GCI will acquirement $100 actor of wireless assets from Alaska Communications and accord them to AWN.
Alaska Communications will own one-third and GCI will own two-thirds of AWN. During the aboriginal four years of AWN’s operations, Alaska Communications will be acceptable to accept best banknote distributions accretion $190 million. GCI will accept all actual accessible banknote distributions over the aforementioned period. Following the antecedent four year period, GCI and Alaska Communications will accept distributions proportional to their buying interests in AWN.
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