-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U+yh7JyEtrSfl0mTYN3edEO6Nsmo3x/5Flo2qArvVU1Jv9Sqn4m0YWjuDcEd3rui Hn+ZVtcPELpVcvY/yCLDow== 0000808461-05-000053.txt : 20050823 0000808461-05-000053.hdr.sgml : 20050823 20050822210727 ACCESSION NUMBER: 0000808461-05-000053 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050822 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20050823 DATE AS OF CHANGE: 20050822 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL COMMUNICATION INC CENTRAL INDEX KEY: 0000808461 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 920072737 STATE OF INCORPORATION: AK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-15279 FILM NUMBER: 051042364 BUSINESS ADDRESS: STREET 1: 2550 DENALI ST STE 1000 CITY: ANCHORAGE STATE: AK ZIP: 99503 BUSINESS PHONE: 9072655600 MAIL ADDRESS: STREET 1: 2550 DENALI STREET STREET 2: SUITE 1000 CITY: ANCHORAGE STATE: AK ZIP: 99503 8-K 1 gci8k082205form.txt GENERAL COMMUNICATION, INC. FORM 8K 08 22 05 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): August 22, 2005 GENERAL COMMUNICATION, INC. (Exact Name of Registrant as Specified in its Charter) Alaska 0-15279 92-0072737 - --------------- ---------------------- ------------ (State or other (Commission File Number) (IRS Employer jurisdiction of Identification incorporation) No.) 2550 Denali Street Suite 1000 Anchorage, Alaska 99503 ----------------------------------------------------- -------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (907) 868-5600 NONE ----------------------------------------------------------- (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 2 - Financial Information Item 2.05 Costs Associated with Exit or Disposal Activities. General Communication, Inc. ("GCI" or the "Company") committed to a reorganization plan on August 22, 2005. The plan of reorganization was developed to more efficiently meet the demands of technological and product convergence. The reorganization plan will realign the company along customer lines rather than product lines. The Company will be reorganized under Consumer, Commercial, Carrier and Managed Broadband segments, replacing the Long Distance, Cable, Local Access and Internet services segments. The reorganization plan will include organizational efficiencies that will result in the layoff of 76 employees by November 30, 2005. The reorganization is expected to be complete and become effective on January 1, 2006. GCI estimates that the range of amounts expected to be incurred in connection with the reorganization will be $1,500,000 to $2,000,000, of which $1,300,000 to $1,800,000 will require the use of cash. Substantially all of the expenses are expected to be attributed to payroll and related employee severance costs. Although accrual of the estimated costs of the reorganization will reduce the Company's EBIDTA for the third quarter of 2005, the reorganization is expected to result in increases in EBITDA during the fourth quarter. GCI's guidance with respect to revenues and EBITDA remains unchanged for the year ended December 31, 2005. The Company's expectations for future periods remain the same. Guidance for subsequent periods will be provided, consistent with prior practice, following completion of the Company's detailed budget for 2006. 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. --------------------------- (Registrant) Date: August 22, 2005 By /s/ Name: John M. Lowber Title: Senior Vice President, Chief Financial Officer, Secretary and Treasurer (Principal Financial Officer) -----END PRIVACY-ENHANCED MESSAGE-----