GCI Closes Alaska Comm Wireless Buy

Alaska Communications (NASDAQ:ALSK) and GCI (NASDAQ:GNCMA) have completed the previously announced transaction for Alaska Communications to sell its wireless subscriber base and its one-third interest in the Alaska Wireless Network to GCI for $300 million.

Under the terms of the agreement, GCI assumed Alaska Communications' wireless subscribers. The two companies have agreed upon a transition plan intended to ensure a seamless continuation of service as wireless customers are transitioned to GCI.