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General Communication seeks shareholder consent for Liberty Interactive deal

General Communication Inc.'s board asked shareholders to approve the company's proposed acquisition by Liberty Interactive Corp. at a special meeting on Feb. 2, 2018.

Also, the shareholders will consider a proposal to approve the adoption of the restated GCI Liberty articles to, among other things, change the name of General Communication to GCI Liberty Inc., effect the reclassification and provide for the terms of the auto conversion.

A proposal to approve the issuance of shares of GCI Liberty Class A common stock and shares of GCI Liberty Class B common stock to Liberty LLC, in connection with the contribution of certain assets and liabilities attributed to the Ventures Group to GCI Liberty in exchange for a controlling interest in GCI Liberty, will also be considered at the meeting, according to a preliminary proxy statement filed Dec. 27.

Liberty Interactive recently reviewed the tax reform bill and its potential impact on the pending reorganization transactions with General Communication.