The Anchorage, Alaska-based multi-dimensional communications company intends to sell its tower division this year and gain up to $90 million, the company said Wednesday. “During 2016, we expect to monetize our urban wireless towers and rooftop locations for approximately $90 million in a sale leaseback transaction. We will redeploy and invest the cash received into our broadband infrastructure in Alaska.” The news was noted in the General Communications fourth quarter and full year 2015 results press release issued Wednesday from Anchorage.
“We also anticipate selling our urban
wireless towers in 2016, which will provide us additional capital that
we intend to re-invest in the growth of our company,” said Ron Duncan,
GCI’s president and chief executive officer. “This sale will support
significant investments in a diverse fiber to the North Slope and
continued expansion of our TERRA network. These steps demonstrate GCI’s
commitment to being the leader in broadband infrastructure in Alaska.” Continue Reading