What is GCI Liberty, Inc.?
GCI Liberty operates and owns interests in a broad range of communications businesses. GCI Liberty’s principal assets consist of its subsidiary GCI and interests in Charter Communications and Liberty Broadband Corporation. GCI Liberty’s other businesses and assets consist of its subsidiary Evite and its interest in Lending Tree.
What are your stock symbols?
GCI Liberty’s Series A (GLIBA) shares and Preferred (GLIBP) shares trade on the NASDAQ. Series B (GLIBB) shares are expected to be quoted on the OTC Markets as promptly as practicable following the closing date on March 9, 2018.
What happened to Liberty Interactive Corporation?
In March 2018, Liberty Interactive Corporation acquired a controlling interest in GCI Liberty (formerly known as General Communication, Inc.) and contributed certain assets and liabilities from its Liberty Ventures Group tracking stock to GCI Liberty. Liberty Interactive Corporation reattributed the remaining assets and liabilities from Liberty Ventures Group to QVC Group, including its stakes in ILG and FTD, portfolio of green energy investments and certain exchangeable bonds as described in its definitive proxy filed with the SEC on December 29, 2018. Liberty Interactive then effected a tax free separation of its interest in GCI Liberty and distributed its interest in GCI Liberty to Liberty Ventures Group shareholders, and fully redeemed the Liberty Ventures Group stock. Subsequently, Liberty Interactive Corporation’s remaining tracking stock, QVC Group, became an asset backed stock and was renamed qurate Retail Group.
As a Liberty Ventures Group stockholder, how many shares of GCI Liberty did I receive in the March 2018 separation?
Each share of Series A Liberty Ventures common stock was exchanged for one share of GCI Liberty Class A Common stock and each outstanding share of Series B Liberty Ventures common stock was exchanged for one share of GCI Liberty Class B Common Stock.
As a GCI stockholder, how many shares of GCI Liberty did I receive in the March 2018 separation?
Holders of GCI Class A Common Stock and GCI Class B Common Stock each received (i) 0.63 of a share of reclassified GCI Class A Common Stock and (ii) 0.20 of a share of new GCI Series A preferred stock in exchange for each share of their existing GCI stock. The exchange ratios were determined based on total consideration of $32.50 per share, comprised of $27.50 per share in reclassified GCI Class A Common Stock and $5.00 per share in newly issued GCI Preferred Stock, and a Liberty Ventures reference price of $43.65 (with no premium paid for shares of GCI Class B Common Stock).
What is the difference between the GCI Liberty Class A Common Stock (GLIBA), GCI Liberty Class B Common Stock (GLIBB) and GCI Liberty Preferred Stock (GLIBP)?
- The GCI Liberty Class A Common Stock (GLIBA) has one vote per share, while the GCI Liberty Class B Common Stock (GLIBB) has ten votes per share.
- Class B Common Stock (GLIBB) is exchangeable at any time on a one-for-one basis for Class A Common Stock (GLIBA). The Class A Common Stock is not exchangeable for Class B Common Stock.
- Class A Common Stock is broadly held and actively traded; the Class B Common Stock is held by a relatively small number of holders and expected to be quoted on the OTC markets.
- GCI Liberty Preferred Stock (GLIBP) has a $25/share liquidation preference and 1/3 vote per share. The Preferred Stock accrues dividends at an initial rate of 5% per annum (which would increase to 7% in connection with a future reincorporation of GCI Liberty in Delaware) and is redeemable in cash after 21 years.
Is the Company related to Liberty Media Corporation, Qurate Retail Group, Liberty Broadband Corporation, Liberty TripAdvisor Holdings or Liberty Expedia Holdings?
Liberty Media Corporation, Qurate Retail Group, Liberty Broadband Corporation, Liberty TripAdvisor Holdings and Liberty Expedia Holdings are separate public companies.
How do I purchase GCI Liberty’s common stock?
The Company has no direct stock purchase plan. You can purchase the stocks through a broker.
Does the Company pay a cash dividend?
The Company has never paid a cash dividend in the past and does not currently intend to pay cash dividends on any class of its stock.
Does the Company hold an annual meeting?
Yes, an annual meeting is held but is not always webcast. Notice of the annual meeting is provided in a press release from GCI Liberty.
When does the Company report financial results?
The Company reports financial results within 40 days after the end of the first, second and third quarters and within 60 days after year-end.
Where can I find the Company's financial statements?
GCI Liberty’s financial statements can be found under the Financial Information page under the Financial Information page under the Investor Relations section
of our website or at www.sec.gov
How do I obtain information about my account or transfer ownership of my stock?
You can obtain information about your account or transfer ownership of your stock by contacting the Company’s transfer agent, Computershare. Please go to the Contact Us section of our website or call Computershare directly at either of the following numbers: (866) 367-6355 (toll free) or (781) 575-3580.
How do I calculate my cost basis?
For more information on calculating your cost basis (tax basis) please visit the Stock Cost Basis section of our website.
Where can I get information on current happenings within the Company?
You can add your name to one of our distribution lists via the Email Alerts
section of our website, you can view the Press Releases
section of our website or you can visit the Events & Presentations
page under the Investor Relations section of our website.