Alaska Communications to Sell Off Remaining Wireless Business to GCI

Alaska Communications said it's selling its remaining 33 percent interest in The Alaska Wireless Network and its wireless subscriber base in Alaska to General Communications Inc. (GCI) for $300 million. The sale will reduce Alaska Communications’ debt by $250 million and will allow the telco to focus on “the underlying inherent value of our broadband and managed IT solutions business,” said Alaska Communications CEO Anand Vadapalli in a Thursday news release. The transaction is to close in Q1 2015 and would affect 150-200 Alaska Communications employees, the telco said.