DivestmentMay 13, 2026, 06:07 AM
GCI Liberty Sells 6% LLA Stake to Chairman Malone for $107M
AI Summary
GCI Liberty announced that Chairman John Malone acquired the company's 6% equity interest in Liberty Latin America (LLA) for $8.63 per share, replenishing $107 million in cash. This follows the termination of discussions for a larger, strategic LLA transaction due to unexpected obstacles. Additionally, at its annual meeting, stockholders re-elected two directors, ratified KPMG LLP as auditors, approved executive compensation, and adopted a new article waiving jury trials for internal actions.
Key Highlights
- GCI Liberty divested its 6% equity interest in Liberty Latin America (LLA) to Chairman John Malone.
- The sale was at GCI Liberty's cost of $8.63 per share, replenishing $107 million cash.
- Discussions for a larger, strategic LLA transaction were terminated due to unexpected obstacles.
- Stockholders re-elected Richard R. Green (5.5M votes) and Jedd Gould (5.8M votes) to the Board.
- KPMG LLP was ratified as independent auditors for 2026 with 6.6M votes in favor.
- Executive compensation was approved on an advisory basis with 4.9M votes for.
- Future say-on-pay votes will be held every three years, supported by 4.3M votes.
- An articles amendment waiving jury trials for internal actions was approved with 5.7M votes.