Grizzly Merger Sub 1 (GLIBP) 8-K Entry into a Material Definitive Agreement

Exhibit 99-4

Forward looking statements

The following contains forward looking statements regarding
the company’s expected results which are based on
management expectations as well as on a number of
assumptions concerning future events. Actual results might
differ materially from those projected in the forward looking
statements due to uncertainties and other factors, many of
which are outside GCI’s control. Additional information
concerning factors that could cause actual results to differ
materially from those in the forward looking statements is
contained in GCI’s cautionary statements sections of Form 10K
and 10-Q files with the Securities and Exchange Commission.

2

GCI’s growth continues

In 1982 GCI completed its first phone call.

—30 years and $2 billion in investments later GCI has the
only statewide, facilities based network providing

—Voice

—Data

—Video

—Wireless

In 2012 GCI and Alaska Communications announce a
combination of their wireless assets to provide a robust,
statewide network with the spectrum mix, scale, advanced
technology and cost structure necessary to compete with
Verizon and ATT in Alaska.

3

The Alaska Wireless Network Assets

Notes:

—Companies will retain their retail customer bases and receive a 30% discount for wireless sales
and marketing.

—GCI will consolidate the AWN financials.

—In 2011 Alaska Communications reported $68.4 million of wireless EBITDA and GCI had
approximately $60 million.

4

AWN Ownership

Initial Payment:GCI pays Alaska Communications $100 million
on closing

Ownership: GCI two-thirds, Alaska Communications one-third

Management fee: GCI will manage the enterprise and receive 4%
to 8% of FCF (prior to distributions) as a management fee.

Preferred Payments: Alaska Communications will receive the
first $50 million in FCF in years 1 and 2 and the first $45 million
in years 3 and 4.GCI will receive all remaining FCF in the first
four years.These preferred payments in aggregate are
estimated to represent a premium of ~ $60 million over Alaska
Communications’ one-third ownership interest during the first
four years.

5

Spectrum

Note that there are differences in spectrum across the state but
Anchorage is representative of the total.

6

Spectrum

—Significantly improved spectrum position.

—850 provides better propagation - lower capex.

—HSPA+ can be deployed in both 850 & 1900.

—AWS provides the ability to build out LTE now rather
than wait for LTE handsets in 1900.

—AWN gains access to twice as much total spectrum.

7

Synergies

Duplicative Costs Reduced

—~200 urban macro cells

—Switch engineering and maintenance

—Future fiber builds to the sites

Scale

—Twice as large as Alaska Communications & GCI
separately

Estimated annual savings

—~$15 million per year in opex

—~$15 million per year in capex

8

Financials

—GCI to pay Alaska Communications $100 million at
closing

—Preferential payments to Alaska Communications of
~$60 million over their ownership percentage are part
of the $190 million of fixed payments

—GCI expects its FCF to improve by 2/3rds of the $30
million in synergies

9

Summary

—GCI will have the spectrum, scale and cost structure
to more effectively compete against the two national
carriers in the market. For a $100 million investment
GCI gains majority interest in a wireless network
operation twice the size of its current one, charts a
rapid path to LTE deployment and generates
approximately $20 million per year in additional cash
flow before financing costs.

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