GCI Remains Committed to BEAD Program and Closing Digital Divide
GCI Liberty was “provisionally” awarded over $140 million in BEAD grants from the Alaska Broadband Office and remains committed to helping close the digital divide in the state, CEO Ron Duncan said Wednesday as the carrier announced Q3 results. The company exited the video business during the quarter, “completing our transition to a pure-play broadband connectivity provider.” GCI sees continuing opportunity in its wireless business and is addressing its cost base, he added.
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
Consumer cable modem subscribers were down 3% to 153,100, while consumer wireless lines in service increased 2% to 207,500, the company said. GCI had $257 million in total revenues in the quarter, down $7 million from the same quarter last year. It also reported an operating loss of $488 million, “primarily due to a non-cash impairment” and adjustments to operating income before depreciation and amortization. Consumer revenue decreased 4% year over year, while business revenue was flat.