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GCI Liberty wins approval for name change, reclassification of common stock

The Commissioner of the Department of Commerce, Community and Economic Development of the State of Alaska accepted for filing GCI Liberty Inc.'s amended and restated articles of incorporation.

As a result, among other things, the name of the company changed to GCI Liberty from General Communication Inc., and the reclassification of each share of GCI Liberty's former Class A common stock and Class B common stock into one share of its Class A-1 common stock and Class B-1 common stock, respectively, became effective, according to a Feb. 21 news release.

GCI Liberty expects the Class A-1 common stock to begin trading Feb. 22 on the Nasdaq Global Select Market under the symbol GNCMA, and the Class B-1 Common Stock to begin quotation on the OTC Markets Feb. 22 under the symbol GNCMB.

GCI Liberty and Liberty Interactive Corp. expect the closing of the proposed transactions to occur in the first quarter.

In April 2017, Liberty Interactive agreed to buy telecommunications provider General Communication, merge GCI with unit Liberty Ventures Group, and spin off the merged entity as a new company to be called GCI Liberty.