GCI Liberty is the publicly traded parent of GCI, Alaska's dominant integrated communications provider. GCI sells broadband internet, wireless, and voice services to residential customers, businesses, government agencies, healthcare providers, schools, and libraries across Alaska. GCI recently exited video entirely to focus on connectivity. Data services drive roughly 71% of revenue, delivered over a hybrid fiber-coaxial cable network being upgraded to DOCSIS 4.0 in Anchorage and other markets, targeting multi-gigabit speeds. Wireless accounts for roughly 24% of revenue; GCI operates Alaska's only statewide wireless network, with about 207,500 lines at year-end 2025. GCI sells to consumers through retail stores and online, and to business customers through a direct sales force. A meaningful share of revenue comes from federal Universal Service Fund subsidies, which support rural healthcare providers, schools, and rural wireless customers — GCI received roughly 6% of the ~$8.5B annual USF program. GCI's business model is subscription-based, with revenue driven by subscriber counts and average revenue per user. GCI bundles broadband and wireless through its "GCI+" converged product, with roughly 62% of postpaid wireless lines sold as part of a bundle. The business segment carries gross margins above 80%, while consumer margins run around 70%. GCI is in a peak CapEx period driven by rural wireless build-out commitments and network upgrades, with management expecting CapEx to normalize once the build-out completes. At the parent level, GCI Liberty raised ~$300M through a rights offering in late 2025 and has flagged potential acquisitions outside Alaska.