UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): March 31, 2006
GENERAL COMMUNICATION, INC.
(Exact Name of Registrant as Specified in its Charter)
Alaska 0-15279 92-0072737
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification
Incorporation) Number)
2550 Denali Street Suite 1000 Anchorage, Alaska 99503
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (907) 868-5600
NONE
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Section 1 - Registrant's Business and Operations
Item 1.01 - Entry into a Material Definitive Agreement.
On March 31, 2006, General Communication, Inc., through its subsidiary GCI
Communication Corp. ("Company") entered into an agreement to lease transponder
capacity on PanAmSat Corporation's ("PanAmSat") Galaxy 18 Spacecraft that is
expected to be launched during 2007. The Company will also lease capacity on the
Horizons 1 Satellite, which is owned jointly by PanAmSat and JSAT International,
Inc. The leased capacity is expected to replace the Company's existing
transponder capacity on PanAmSat's Galaxy 10R satellite when it reaches its end
of life.
The Company will lease, subject to a termination option, C-band and Ku-Band
transponders over an expected term of approximately 14 years once the satellite
is placed into commercial operation in its assigned orbital location, and the
transponders meet specific performance specifications and are made available for
the Company's use. The present value of the lease payments, excluding telemetry,
tracking and command services and back-up protection, is expected to total $77
million to $82 million.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL COMMUNICATION, INC.
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(Registrant)
Date: April 6, 2006
By /s/ John M. Lowber
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Name: John M. Lowber
Title: Senior Vice President,
Chief Financial Officer,
Secretary and Treasurer
(Principal Financial Officer)