8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): October 30, 2008

Alaska Communications Systems Group, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	000-28167	52-2126573
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
600 Telephone Avenue, Anchorage, Alaska		99503-6091
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: (907) 297-3000

Not Applicable
______________________________________________
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 obligation 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))

Item 2.01 Completion of Acquisition or Disposition of Assets.

On October 30, 2008, Alaska Communications Systems Group, Inc. ("ACS") completed the previously announced acquisition of Crest Communications Corporation("Crest"). Pursuant to the terms and conditions of the Stock Purchase Agreement, dated April 1, 2008 (the "Agreement") by and among ACS and Crest, all equity shares of Crest were purchased by ACS for $70 million. On April 7, 2008, ACS filed a copy of the Agreement with the Securities and Exchange Commission on Form 8-K and such Form 8-K is incorporated herein by reference. In addition, a copy of ACS’s press release announcing the closing is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The purchase of Crest includes its Northstar undersea fiber optic cable and backhaul network linking the cable’s landing station on the Oregon coast to Portland and Seattle.

Item 9.01 Financial Statements and Exhibits.

Exhibit 2.1 Stock Purchase Agreement by and among Alaska Communications Systems Group, Inc. and Crest Communications Corporations (Confidential treatment has been granted for certain portions marked "***" of this Exhibit.) This exhibit is incorporated herein by reference to the Company's Form 8-K filed with the SEC on April 7, 2008.

Exhibit 99.1 Alaska Communications Systems Group, Inc. Press Release dated October 30, 2008.

SIGNATURES

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.

	Alaska Communications Systems Group, Inc.
November 4, 2008	By:	/s/ Timothy R. Watts
		Name: Timothy R. Watts
		Title: Corporate Secretary

Exhibit Index

Exhibit No.	Description
99.1	Alaska Communications Systems Group, Inc. Press Release dated October 30, 2008.

EX-99.1

Alaska Communications Systems Completes Acquisition of Crest Communications Corporation

ANCHORAGE, Alaska, October 30, 2008 (BUSINESS WIRE) – Alaska Communications Systems Group, Inc. (“ACS”) (NASDAQ: ALSK) today announced that it has completed the acquisition of Crest Communications Corp. This $70 million transaction brings into the ACS asset portfolio the Northstar undersea fiber optic cable and a robust backhaul network linking the cable’s landing station on the Oregon coast to both Portland and Seattle.

ACS announced in April that it intended to purchase Crest as part of its expansion into the Enterprise market. The acquisition of Crest brings with it a team experienced in servicing undersea systems and an established base of Enterprise customers including several who utilize the Northstar cable landing station and diverse transport facilities in the Pacific Northwest. In addition to acquiring Northstar, the Company is completing its build of a geographically distinct, state-of-the-art fiber optic cable, the Alaska Oregon Network (AKORN). This project is currently in the testing stage and will be ready for commercial launch, on plan, in early 2009.

“ACS owns two fiber cables to the Lower 48, a major achievement not only for the Company but for the State of Alaska. This major telecom infrastructure investment enables us to provide security and reliability through this ring of geographically diverse cables. Combined with our best-in-class in-state networks and network operations centers ACS is the clear choice for meeting Enterprise customers’ needs,” said Liane Pelletier, chief executive, president and chairman.

About Alaska Communications Systems

Headquartered in Anchorage, ACS is Alaska’s leading provider of broadband and other wireline and wireless solutions to Enterprise and mass market customers. The ACS wireline operations include the state’s most advanced data networks and, with the acquisition of Crest Communications and build of the AKORN fiber, will be the only company with a geographically diverse undersea fiber optic network connecting Alaska to the contiguous United States. The ACS wireless operations rely on the only statewide 3G network, reaching across Alaska from the North Slope to Ketchikan, with coverage extended via the best CDMA carriers in the Lower 49 and Canada. By investing in the fastest-growing market segments and attracting the highest-quality customers, ACS seeks to drive top and bottom-line growth, while continually improving customer experience and cost structure through process improvement. More information can be found on the company’s website at www.acsalaska.com or at its investor site at www.alsk.com.

About Crest Communications Corporation

Crest is a facilities-based provider of high-bandwidth, fiber optic communications infrastructure to carrier and corporate/government customers in the Pacific Northwest. Crest consists of three subsidiaries that own the infrastructure: WCI Cable, Inc., Northern Lights Holdings, Inc. and World Net Communications, Inc. The primary assets of the Company consist of an integrated terrestrial and submarine fiber optic network that links the Alaskan market to interconnection points in Portland, Ore. and Seattle, Wash.

SOURCE: Alaska Communications Systems Group, Inc.

Alaska Communications Systems Group, Inc.
Media Contact:
Paula Dobbyn
Director, Corporate Communications
907-297-3000
Paula.Dobbyn@acsalaska.com
or
Investor Contact:
Melissa Fouts
Director, Investor Relations
907-564-7556
investors@acsalaska.com