GCI Liberty provides update following talks with Chairman Malone

GCI Liberty, Inc. (Nasdaq: GLIBA, GLIBK) has announced that it has terminated further discussions with Chairman of the Board, Dr. John C. Malone, regarding potential acquisitions of his equity interests in Liberty Latin America Ltd. (LLA). This decision follows unexpected obstacles in completing a larger, more strategic transaction involving LLA. In lieu of pursuing further acquisitions, Dr. Malone has offered to purchase GCI Liberty's 6% equity stake in LLA at the same price the company paid last month, which was $8.63 per share. The Board of Directors has accepted this offer, resulting in a $107 million replenishment of cash on GCI Liberty's balance sheet.

Dr. Malone emphasized his continued belief in a strategic framework for GCI Liberty that includes two distinct business units—one focused on stable, cash-generative operations and another on long-term investment growth. However, regulatory, tax, and structural complexities have delayed the full execution of this plan.

Earlier in April 2026, GCI Liberty had acquired the 6% stake in LLA from Searchlight Capital Partners for $107 million, with the expectation of potentially acquiring additional equity interests in LLA, including high-vote Class B shares, in exchange for newly issued shares of Series C common stock of GCI Liberty. The company had also been in discussions with Dr. Malone regarding such a potential exchange.

Ron Duncan, President and CEO of GCI Liberty, noted that the company had anticipated completing a broader transaction but was unable to do so before the announcement of the Searchlight LLA acquisition. As a result, the board has accepted Dr. Malone's offer to repurchase the LLA shares at cost.

GCI Liberty continues to explore opportunities that align with its strategic transformation into Liberty Capital, with a focus on maximizing shareholder value.