Billionaire seeks controlling interest in GCI, regulatory filings show

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By James Brooks

Alaska Beacon

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 Oct. 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.

Malone already owns a majority of GCI Liberty’s voting shares, according to RCA filings, but until now has been limited by agreements that hold his voting power below 50%.

According to the filings, 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.”

The filings also state that both GCI Liberty and Malone have asked for a waiver that would allow them to keep their financial documents confidential.

Under state law and regulation, those documents would ordinarily be available for public inspection as part of regulators’ approval process.

Public comments on the request for secrecy are due to RCA by Tuesday, Oct. 28, and the state regulator is expected to review the takeover request after that date.

The takeover would also affect United Utilities, which provides telephone and internet service in rural Alaska, including much of the Yukon-Kuskokwim river delta region, filings show.

• James Brooks is a longtime Alaska reporter, having previously worked at the Anchorage Daily News, Juneau Empire, Kodiak Mirror and Fairbanks Daily News-Miner. Alaska Beacon is part of States Newsroom, the nation’s largest state-focused nonprofit news organization.