GCI sold in billion-dollar acquisition

Alaska telecom provider GCI has announced it has reached an agreement with Liberty Interactive Corporation. General Communication, Inc. will be bought out by Liberty Interactive Corporation, an American media conglomerate and venture capital group. GCI's business, assets and liabilities will be combined with that of subsidiary Liberty Ventures Group, forming a company renamed GCI Liberty. "This transaction is a win for our shareholders, customers, and employees," stated Ron Duncan, GCI co-founder, president, and chief executive officer. "As part of a larger company, GCI will be even better pos...