ANCHORAGE, Alaska, Dec. 12, 2013 /PRNewswire/ -- Denali Media Holdings, a subsidiary of General Communication, Inc. ("GCI") (NASDAQ:GNCMA) announced today that it has agreed to the purchase of three CBS broadcast stations in Southeast Alaska: KXLJ in Juneau, KTNL in Sitka and KUBD in Ketchikan.
Denali Media Holdings will purchase the three CBS affiliates from Ketchikan TV of Evergreen, Colorado.
The purchase agreements are subject to customary closing conditions, including approvals from the Federal Communications Commission, with final approval anticipated in the second quarter of 2014.
Ketchikan TV is also the owner and operator of Anchorage's KDMD-TV and Telemundo Alaska, Alaska's only Spanish language television station.Denali Media Holdings is a subsidiary of GCI, Alaska's largest telecommunications company. GCI's cable plant, which provides voice, video, and broadband data services, passes 80 percent of Alaska households. GCI operates Alaska's most extensive terrestrial/subsea fiber optic network which connects not only Anchorage but also Fairbanks and Juneau/ Southeast Alaska to the lower 48 states with a diversely routed, protected fiber network. GCI's TERRA-Southwest fiber/microwave system links 65 communities in the Bristol Bay and Yukon-Kuskokwim Delta to Anchorage bringing terrestrial broadband Internet access to the region for the first time. GCI's satellite network provides communications services to small towns and communities throughout rural Alaska. GCI's statewide mobile wireless network seamlessly links urban and rural Alaska. A pioneer in bundled services, GCI is the top provider of voice, data, and video services to Alaska consumers with a 70 percent share of the consumer broadband market. GCI is also the leading provider of communications services to enterprise customers, particularly large enterprise customers with complex data networking needs. More information about GCI can be found at www.gci.com. The foregoing contains forward-looking statements regarding GCI's expected results that are based on management's expectations as well as on a number of assumptions concerning future events. Actual results might differ materially from those projected in the forward looking statements due to uncertainties and other factors, many of which are outside GCI's control. Additional information concerning factors that could cause actual results to differ materially from those in the forward looking statements is contained in GCI's cautionary statement sections of Forms 10-K and 10-Q filed with the Securities and Exchange Commission.
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