General Communication Commences Cash Tender Offer for $425 Million in Outstanding Senior Notes
Mar 25 15
General Communication commenced a cash tender offer for $425 million in outstanding senior notes and disclosed plans to offer $450 million of new senior notes. The tender offer is for any and all of the company's $425 million in outstanding 8.625% senior notes due 2019 issued by unit GCI Inc. The offer will expire at 5 p.m. ET on March 31, unless extended or earlier terminated. The company is also planning to offer $450 million of new senior notes that will mature in 2025, to be issued by GCI Inc. The net proceeds of the offering will be used to fund the tender offer for, or redemption of, GCI's $425 million outstanding senior notes due 2019 and to pay fees and expenses related to the issuance of the 2025 notes and purchase or redemption of the 2019 notes.
General Communication Inc. Appoints Eric Zinterhofer as New Class II Director
Mar 10 15
On March 4, 2015, the board of directors of General Communication Inc. appointed Eric Zinterhofer as a new class II director. Mr. Zinterhofer accepted the appointment to serve on the company’s board on the same date.
General Communication Inc. Presents at The Goldman Sachs Sixth Annual TMT Leveraged Finance Conference, Mar-11-2015
Mar 10 15
General Communication Inc. Presents at The Goldman Sachs Sixth Annual TMT Leveraged Finance Conference, Mar-11-2015 . Venue: Goldman Sachs Conference Center, New York, New York, United States.
General Communication, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015
Mar 4 15
General Communication Inc. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported, consolidated revenues of $229 million with revenues growing 5% over the same period of 2013. Adjusted EBITDA was $323,116,000 compared to $267,283,000 a year ago. This growth was driven, in part, by increases in subscribers and average revenue per user (ARPU) for both wireless and high speed data services. Operating income was $25,547,000 compared to $25,423,000 a year ago. Income before income tax expense was $7,196,000 compared to $7,325,000 a year ago. Net income was $5,796,000 compared to $4,525,000 a year ago.
For the year, the company reported core cash capital expenditures for the year totaled approximately $164 million, which included $47 million on wireless network and infrastructure projects and $90 million on other network and infrastructure projects. Normalized adjusted EBITDA increased 12% on a year-over-year basis and decreased 17% on a sequential basis. Total Revenue was $910,198,000 compared to $811,648,000 a year ago. Operating income was $143,562,000 compared to $112,862,000 a year ago. Income before income tax expense was $69,273,000 compared to $42,684,000 a year ago. Net income was $59,244,000 compared to $31,727,000 a year ago. Net income attributable to the company was $7,557,000 compared to $9,406,000 a year ago. Basic and diluted net income attributable to the company common stockholders per Class A and B common share was $0.18 compared to $0.23 a year ago. Adjusted EBITDA was $323,116,000 compared to $267,283,000 a year ago.
For the year 2015, revenues will be in the range of $920 - 970 million. Adjusted EBITDA will be in the range of $310-335 million, which excludes one time costs of approximately $30 million for the transition of ACS wireless customers to GCI.- Core cash capital expenditures will be approximately $170 million, of which approximately $45 million will be on wireless network projects, and approximately $85 million will be on other net work and infrastructure projects.
General Communication Inc. to Report Q4, 2014 Results on Mar 04, 2015
Feb 4 15
General Communication Inc. announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Mar 04, 2015