Billionaire Seeks Controlling Interest in GCI
Alaska's largest residential internet provider may soon come under the control of billionaire businessman John Malone, one of America's biggest private landowners and wealthiest people.
On March 3, Malone filed paperwork with the Regulatory Commission of Alaska, asking for permission to take majority ownership of GCI Liberty Inc., the parent company of GCI Communications, Alaska's largest internet company.
According to RCA filings, Malone already owns a majority of GCI Liberty's voting shares but has been limited by agreements that hold his voting power below 50%.
Malone is asking for authority to increase his voting power to "a level that would constitute control of GCI Liberty and its certificated subsidiary GCICC.
Author's summary: Billionaire John Malone seeks to control Alaska's largest internet provider.