GCI Liberty Shares Drop as GLIBA’s Liberty Capital Move Feels Squeeze
Liberty Capital Corp shares fell 3.3% Wednesday, closing at $20.50 in after-hours trading as investors reacted to the company’s recent name change from GCI Liberty. First-quarter revenue dropped 4% to $256 million, with adjusted OIBDA down 18%. GCI agreed to buy Alaska fiber firm Quintillion for $310 million. John Malone ended talks on Liberty Latin America, instead buying back GCI Liberty’s 6% stake for $107 million.