D.C. Memo: John Malone Files to Take Majority Control of GCI Liberty in Alaska
Libertarian Cable TV Pioneer Would Control a Company That Derives 42% of Annual Revenue from a Single Source − the FCC’s $8.5 billion Universal Service Fund
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Malone: The Regulatory Commission of Alaska (RCA) said GCI Liberty and cable TV pioneer John Malone filed an application Oct. 3 seeking approval for Malone to obtain an indirect controlling interest in GCI Communication Corp., the Alaska telecom carrier owned by publicly traded GCI Liberty.
Malone, who is already Chairman of GCI Liberty, has homes or estates in Maine, Colorado, and Florida. But it does not appear he has serious real estate interests in Alaska or spent much time in The Last Frontier.
“GCI is deeply committed to Alaska and to serving Alaskans,” a GCI spokesperson said in a statement emailed to Policyband Monday evening. “Our headquarters and senior leadership team are all based in Alaska, and we continue making decisions locally to serve communities across the state. While our parent company, GCI Liberty, is involved in this regulatory filing, we remain focused on connecting Alaskans and investing in the state’s future, just as we’ve done for more than 45 years.”
Spun off from Liberty Broadband in July, GCI Liberty provides Internet, mobile, voice, and other managed services to residential customers, businesses, and governmental, educational, and medical institutions. It ended the second quarter with 154,000 broadband and 207,000 mobile subscribers. GCI Liberty is not an MVNO. It has its own mobile network.
The RCA opened Docket U-25-039 to review Malone’s request. GCICC holds Certificate of Public Convenience and Necessity No. 489 for local exchange service, No. 419 for intrastate interexchange service and No. 496 for private pay-telephone service, RCA Chair John Espindola said.
According to the filing, Malone beneficially holds about 53.50% of the aggregate voting power of GCI Liberty, the ultimate indirect parent of GCICC. However, trusts and related entities associated with Malone are party to an agreement that restricts his exercisable voting power to 49.32%. Espindola said. GCI Liberty and Malone are asking regulators to authorize an increase in Malone’s voting power to more than 50%, a level that would constitute control of GCI Liberty and, by extension, its certificated subsidiary GCICC. (More after paywall.)
