Printer Friendly

GCI COMPLETES FIBER FINANCING

 ANCHORAGE, Alaska, Dec. 31 /PRNewswire/ -- GCI Leasing Co. Inc., a subsidiary of General Communication Inc. (GCI) (NASDAQ: GNCMA), announced today it has acquired one-ninth of the undersea fiber optic cable linking Seward, Alaska, and Pacific City, Ore. The section of cable, technically referred to as one DS-3, enables GCI to handle as many as 1,500 simultaneous voice transmissions.
 According to Wilson Hughes, GCI executive vice president, the digital signal technology is another milestone in GCI's continuing growth.
 "For the same approximate monthly payment, GCI will own the fiber rather than continuing to lease it," said Hughes. "Independent ownership of this cable portion enables us to provide guaranteed, long- term quality service at low cost to our customers."
 According to Hughes, financing for the $9 million acquisition was provided by National Bank of Alaska. The debt is expected to be repaid in 10 years.
 -0- 12/31/92
 /CONTACT: John Lowber, 907-265-5600, or Linda Duck, 907-265-5458, both of General Communication Inc.; or Kathy Schaff of Bernholz & Graham, 907-561-4488, for General Communication Inc./
 (GNCMA)


CO: General Communication Inc.; GCI Leasing Co. Inc. ST: Alaska IN: TLS SU:

LM-SG -- SE005 -- 1007 12/31/92 16:27 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 31, 1992
Words:195
Previous Article:1992 SKI FASHION BUGABOOS: COLUMBIA SPORTSWEAR RELEASES LIST OF YEAR'S TOP 10 SKI FASHION FAUX PAS
Next Article:WILSON STUDENT NAMED NATIONAL 1993 MCDONALD'S BLACK HISTORY MAKERS OF TOMORROW; SAPTOSA FOSTER APPEARS IN ADVERTISING, RECEIVES STOCK
Topics:


Related Articles
GCI COMPLETES FIBER FINANCING
GCI REPORTS INCOME OF $1.2 MILLION IN 1993 THIRD QUARTER
GCI and Kanas Sign Agreement to Exchange Fiber Optic Cable; Hi-Capacity Link Unites Fairbanks, Valdez, Whittier and Anchorage
GCI $125 MM Fiber Optic Cable 'In Service'.
GCI $125 MM Fiber Optic Cable 'In Service' Tyco Submarine Systems Ltd. Certifies Cable; GCI Begins Moving Traffic.
GCI Announces Agreement to Provide Fiber Capacity to AT&T Alascom.
InterDigital Appoints GCI Group for Financial Communications Program.
GCI to Build Second Fiber Optic Cable to Lower 48 States; $50 Million Project Will Provide Unlimited Backup Facilities.
GCI to Build $30 Million Southeast Alaska Fiber Optic Cable Network.
GCI Signs Southeast Fiber Equipment Contract With NEC.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters