GCI Liberty Q3 operating loss of $488M on $525M impairment; launches $300M rights offering

GCI Liberty, Inc.

2025-Q3 EPS reported -$11.21 revenue$784,000,000

Revenue fell 2% YoY to $257M; operating loss of $488M driven by $525M non-cash impairment of intangible assets and goodwill.
Adjusted OIBDA declined 8% to $92M; consumer revenue down 4% to $115M, business revenue flat at $142M.
Consumer cable modem subs fell 3% to 153,100; wireless lines in service up 2% to 207,500; video business exited as of Sept 30, 2025.
Board declared dividend of subscription rights to acquire Series C common stock for aggregate $300M at ~20% discount; John Malone intends to fully exercise basic and oversubscription privileges.
Rights offering expected to commence Nov 26, 2025 and expire Dec 17, 2025; net proceeds for general corporate purposes, including potential Alaska acquisitions.

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