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February 15, 2005
For Information Contact: Forrest Olemaun, Arctic Slope Regional Corporation, 907.339.6000 David Morris, GCI, 907.265.5396, dmorris@gci.com
FOR IMMEDIATE RELEASE
GCI CLOSES ASSET PURCHASE AGREEMENT WITH BARROW CABLE TV Purchase Adds 947 Cable TV Subscribers to GCI
ANCHORAGE, AK GCI announced today that it has closed the asset purchase of Barrow Cable TV (BCTV) with Arctic Slope Regional Corporation (ASRC). GCI will pay approximately $1,500,000 for the transaction, or $1,600 per sub.
According to Riley Snell, vice president and general manager of GCI Cable TV, GCI will upgrade the plant of Barrow Cable TV in order to deliver digital services as well as high-speed cable modem service. Upgrades are scheduled to be implemented by the beginning of 2006.
"We are pleased to add Barrow to the list of communities who will be receiving advanced communication services," said Snell. "In addition, we are pleased that staffing needs in Barrow will not change and all three employees have agreed to stay on."
In January, the Regulatory Commission of Alaska approved the transfer of the Certificate of Public Convenience and Necessity from BCTV to GCI.
With today's announcement, GCI will provide cable television services to more than 135,000 subscribers.
GCI (NASDAQ: GNCMA) is Alaska's largest integrated communication provider delivering voice, video and data services through its fiber optic, satellite, hybrid fiber coaxial and metropolitan area networks. More information about GCI can be found at www.gci.com.
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