GCI Liberty converts A-1, B-1 stock into class A stock, preferreds

New York, March 8 – GCI Liberty, Inc. carried out an automatic conversion of its class A-1 and class B-1 common stock into class A common stock and series A cumulative redeemable preferred stock, according to a news release.

The conversion, effective at 4:21 p.m. ET on March 8, means each share of both classes of stock will be exchanged for 0.63 of GCI Liberty class A common stock and 0.2 of GCI Liberty series A cumulative redeemable preferred stock.

Liberty Interactive Corp. said that it has also reattributed some assets and liabilities to QVC Group from its Ventures Group.

The class A common stock is expected to begin trading under the symbol “GLIBA” on March 12 and the preferreds under the symbol “GLIBP” on the same day.

The assets and liabilities include cash, Liberty Interactive’s interests in ILG and FTD, certain green energy investments, exchangeable debentures of Liberty Interactive LLC and tax benefits.

Before the market open on March 9, Liberty Interactive will contribute to GCI Liberty in exchange for shares of GCI Liberty class A and class B common stock assets and liabilities currently attributed to Ventures Group as follows: Liberty Interactive’s entire equity interests in Liberty Broadband Corp., Charter Communications, Lending Tree and Evite and certain other assets and liabilities attributed to its Ventures Group following the reattribution.

Liberty Interactive expects to complete the redemption of its series A and series B Liberty Ventures common stock in exchange for shares of GCI Liberty stock at 4:01 p.m. ET on March 9.

GCI Liberty is an Anchorage-based communications provider in Alaska. Liberty Interactive is an Englewood, Colo. owner of interests in digital commerce businesses.

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