GCI Liberty will remain an Alaska corporation as of the closing. When the dust settles, former GCI shareholders will own 23% of the undiluted equity and 16% of the undiluted voting power of GCI Liberty, and former Liberty Ventures shareholders will own the remaining equity and voting interests in the separated company. Holders of Liberty Ventures common stock then will receive one share of the corresponding series of GCI Liberty common stock in redemption for each share of Liberty Ventures stock held at the time of the redemption. ![]() Liberty Interactive will acquire a 77% undiluted equity interest and 84% undiluted voting interest in GCI Liberty in exchange for these contributions. equity interest) with the GCI assets to create GCI Liberty. Then, Liberty Interactive will combine its entire equity interests in Liberty Broadband, Charter, LendingTree, Inc., the Evite operating business, and certain other assets and liabilities (including, subject to certain conditions, the FTD Companies, Inc. ![]() To start, GCI shareholders will receive the $32.50 per share in the form of $27.50 per share in GCI Liberty Class A common stock and $5.00 in newly issued Series A preferred shares, based on a Liberty Ventures reference price of $43.65. What's left of Liberty Interactive will shift to QVC Group, Liberty Interactive's other tracking stock group, and Liberty Interactive will assume the QVC Group Inc. Then, Liberty Interactive will conduct a tax-free separation of its controlling interest in GCI Liberty to the holders of Liberty Ventures common stock in full redemption of all outstanding shares of that stock. in exchange for a controlling interest in the new company. ![]() The acquisition will set off a series of falling dominoes that will see the creation of GCI Liberty as a standalone company and Liberty Interactive transform into QVC Group Inc.Įxecuting Liberty's full plans will require a rather complicated flurry of financial wheeling and dealing in which certain assets and liabilities of one of its two tracking stock groups, Liberty Ventures Group, combined with GCI to create GCI Liberty Inc. The transaction represents an undiluted enterprise value for GCI of $2.68 billion and undiluted equity value of $1.12 billion, according to Liberty. (GCI NASDAQ GNCMA) for $32.50 per share in value. (NASDAQ: QVCA, QVCB, LVNTA, LVNTB) says it has agreed to acquire Alaskan communications services provider General Communication, Inc.
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