Liberty Interactive, GCI Liberty announce completion of transactions
Liberty Interactive (QVCA) and GCI Liberty (GLIBA, GLIBP) announced the completion of Liberty's previously announced acquisition of GCI Liberty and series of transactions that effected the split-off of GCI Liberty. As a result of the transactions, LIC no longer holds an equity interest in GCI Liberty. Following the split-off, there are approximately 105M shares of GLIBA, 4.5M shares of GLIBB, and 7.3M shares of GLIBP outstanding, and former Liberty Ventures stockholders hold approximately 79% of the common equity of GCI Liberty and an approximate 83% voting interest in GCI Liberty based on shares outstanding as of closing. After giving effect to the transactions, the cash balance at GCI Liberty is approximately $466M.