# EDGAR Filing Document

**Accession Number:** 0002057463
**File Stem:** 0001104659-25-060803
**Filing Date:** 2025-6
**Character Count:** 29848
**Document Hash:** 19dfe6520fbf1750f8a42eef3cff284a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-060803.hdr.sgml**: 20250620

**ACCESSION NUMBER**: 0001104659-25-060803

**CONFORMED SUBMISSION TYPE**: S-1/A

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20250620

**DATE AS OF CHANGE**: 20250620

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GCI Liberty, Inc.
- **CENTRAL INDEX KEY:** 0002057463
- **STANDARD INDUSTRIAL CLASSIFICATION:** CABLE & OTHER PAY TELEVISION SERVICES [4841]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-286272
- **FILM NUMBER:** 251058940

**BUSINESS ADDRESS:**
- **STREET 1:** 12300 LIBERTY BLVD
- **CITY:** ENGLEWOOD
- **STATE:** CO
- **ZIP:** 80112
- **BUSINESS PHONE:** 7208755700

**MAIL ADDRESS:**
- **STREET 1:** 12300 LIBERTY BLVD
- **CITY:** ENGLEWOOD
- **STATE:** CO
- **ZIP:** 80112

**As filed with the Securities and Exchange Commission on June 20, 2025**

**Registration No. 333-286272**

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**AMENDMENT NO. 3 TO** **<br> FORM S-1<br> REGISTRATION STATEMENT<br> *UNDER<br> THE SECURITIES ACT OF 1933***

**GCI Liberty, Inc.** ****<br> (Exact name of registrant as specified in its Charter)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Nevada**<br> (State or other jurisdiction of incorporation or<br> organization) | &nbsp;&nbsp; **4841**<br> (Primary Standard Industrial Classification<br> Code Number) | &nbsp;&nbsp; **36-5128842**<br> (I.R.S. Employer<br> Identification No.) |

---

**12300 Liberty Blvd.<br> Englewood, Colorado 80112<br> (720) 875-5900**

(Address, including zip code, and telephone number, including area code, of registrant's principal executive office)

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;*Copy to:* |
| &nbsp;&nbsp; **Renee L. Wilm**<br> **Chief Legal Officer & Chief Administrative Officer**<br> **GCI Liberty, Inc.**<br> **12300 Liberty Boulevard**<br> **Englewood, Colorado 80112**<br> **(720) 875-5900**<br> (Name, address, including zip code, and telephone number, including<br> area code, of agent for service) | &nbsp;&nbsp; <br> **C. Brophy Christensen**<br> **Noah Kornblith**<br> **Jeeho Lee**<br> **O'Melveny & Myers LLP**<br> **Two Embarcadero Center, 28th Floor**<br> **San Francisco, California 94111**<br> **(415) 984-8700** |

---

**Approximate date of commencement of proposed sale to the public**: As soon as practicable after the effective date of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ◻

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ◻

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ◻

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ◻

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large Accelerated filer ◻ Accelerated filer ◻ <br> Non-accelerated filer ⌧ Smaller reporting company ◻ <br> Emerging Growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided to Section 7(a)(2)(B) of the Securities Act. ⌧

**The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to Section 8(a), may determine.**

**Explanatory Note**

GCI Liberty, Inc. is filing this Amendment No. 3 to its Registration Statement on Form S-1 (File No. 333-286272) (the "**Registration Statement**") as an exhibits-only filing for the purpose of replacing (i) Exhibit 5.1: Form of Opinion of Greenberg Traurig, LLP as to the legality of the securities being registered, and the related Exhibit 23.2: Consent of Greenberg Traurig, LLP, previously filed with the Registration Statement, with a final, executed version of Exhibit 5.1, and the related final Exhibit 23.2, and (ii) Exhibit 107: Filing Fee Table, previously filed with the Registration Statement, with an updated version reflecting an increased maximum amount of securities to be registered. Accordingly, this amendment consists only of the facing page, this explanatory note, Item 16 of Part II of the Registration Statement, the signature page to the Registration Statement and Exhibits 5.1, 23.2 and 107 filed herewith. The remainder of the Registration Statement is unchanged and has therefore been omitted.

**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 16.** **Exhibits and Financial Statement Schedules.**

(a) Exhibits.

---

| | |
|:---|:---|
| **Exhibit <br> Number** | **Exhibit Description** |
| [2.1](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex2-1.htm) | [Form of Separation and Distribution Agreement between Liberty Broadband Corporation and GCI Liberty, Inc.#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex2-1.htm) |
| [3.1](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex3-1.htm) | [Form of Amended and Restated Articles of Incorporation of GCI Liberty, Inc.#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex3-1.htm) |
| [3.2](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex3-2.htm) | [Form of Amended and Restated Bylaws of GCI Liberty, Inc.#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex3-2.htm) |
| [3.3](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex3-3.htm) | [Form of Certificate of Designations of 12% Series A Cumulative Redeemable Non-Voting Preferred Stock of GCI Liberty, Inc.#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex3-3.htm) |
| [4.1](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex4-1.htm) | [Indenture, dated October 7, 2020, by and between GCI, LLC, as issuer, and MUFG Union Bank, N.A., as trustee#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex4-1.htm) |
| [4.2](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex4-2.htm) | [Form of 4.750% Senior Notes due 2028#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex4-2.htm) |
| [5.1](tm2510075d12_ex5-1.htm) | [Opinion of Greenberg Traurig, LLP as to the legality of the securities being registered\*](tm2510075d12_ex5-1.htm) |
| [10.1](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-1.htm) | [Form of Tax Sharing Agreement between Liberty Broadband Corporation and GCI Liberty, Inc.#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-1.htm) |
| [10.2](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-2.htm) | [Form of Tax Receivables Agreement between Liberty Broadband Corporation and GCI Liberty, Inc.#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-2.htm) |
| [10.3+](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex10-3.htm) | [Employment Agreement, dated as of December 22, 2022, by and between GCI Communication Corp. and Ronald A. Duncan#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex10-3.htm) |
| [10.4+](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex10-4.htm) | [Form of GCI Liberty, Inc. Transitional Stock Adjustment Plan#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex10-4.htm) |
| [10.5+](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-5.htm) | [Form of GCI Liberty 2025 Omnibus Incentive Plan#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-5.htm) |
| [10.6](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-6.htm) | [Form of Indemnification Agreement between GCI Liberty, Inc. and its executive officers/directors#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-6.htm) |
| [10.7](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-7.htm) | [Form of Services Agreement between GCI Liberty, Inc. and Liberty Media Corporation#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-7.htm) |
| [10.8](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-8.htm) | [Form of Facilities Sharing Agreement between GCI Liberty, Inc., Liberty Property Holdings, Inc, and Liberty Media Corporation#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-8.htm) |
| [10.9](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-9.htm) | [Form of Aircraft Time Sharing Agreement between GCI Liberty, Inc. and Liberty Media Corporation#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-9.htm) |
| [10.10](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex10-10.htm) | [Amendment Agreement, dated as of March 25, 2025, among GCI, LLC, the subsidiary guarantors party thereto, the lenders party thereto, Credit Agricole Corporate and Investment Bank, as administrative agent, and the other parties thereto#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex10-10.htm) |
| [10.11](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex10-11.htm) | [Letter Agreement, dated as of July 1, 2020, between GCI Communication Corp. and Ronald A. Duncan#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex10-11.htm) |
| [10.12](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-12.htm) | [Voting Side Letter Agreement, dated as of December 31, 2024, by and between GCI Liberty, Inc. and the John C. Malone 1995 Revocable Trust, the Leslie A. Malone 1995 Revocable Trust, the John C. Malone June 2003 Charitable Remainder Unitrust, the Tracy M. Amonette Trust A, the Evan D. Malone Trust A and the Malone Family Land Preservation Foundation#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-12.htm) |
| [10.13](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-13.htm) | [Exchange Side Letter Agreement, dated as of November 12, 2024, by and among Liberty Broadband Corporation, John C. Malone, The John C. Malone 1995 Revocable Trust, The Leslie A. Malone 1995 Revocable Trust and the John C. Malone June 2003 Charitable Unitrust#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex10-13.htm) |
| [21.1](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex21-1.htm) | [List of Subsidiaries of GCI Liberty, Inc.#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex21-1.htm) |
| [23.1](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex23-1.htm) | [Consent of KPMG, LLP (independent registered public accountant)#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex23-1.htm) |
| [23.2](tm2510075d12_ex5-1.htm) | [Consent of Greenberg Traurig, LLP (included in Exhibit 5.1)\*](tm2510075d12_ex5-1.htm) |
| [24.1](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075-1_s1.htm#tPOA) | [Power of Attorney (Included on the Signature Pages to the Registration Statement)#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075-1_s1.htm#tPOA) |
| [99.1](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex99-1.htm) | [Consent of Ronald A. Duncan to be named a director#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925029933/tm2510075d2_ex99-1.htm) |
| [99.2](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex99-2.htm) | [Consent of Larry E. Romrell to be named a director#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex99-2.htm) |
| [99.3](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex99-3.htm) | [Consent of Richard R. Green to be named a director#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex99-3.htm) |
| [99.4](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex99-4.htm) | [Consent of Brian M. Deevy to be named a director#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925044749/tm2510075d4_ex99-4.htm) |
| [99.5](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex99-5.htm) | [Notice Under Rule 104 of Regulation BTR, dated May 13, 2025#](https://www.sec.gov/Archives/edgar/data/2057463/000110465925053151/tm2510075d7_ex99-5.htm) |
| [107](tm2510075d12_ex-filingfees.htm) | [Filing Fee Table\*](tm2510075d12_ex-filingfees.htm) |

---

+ Indicates a management contract or compensatory plan.

# Previously filed.

\* Filed herewith.

**SIGNATURES**

Pursuant to the requirements of the Securities Act, GCI Liberty, Inc. has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Englewood, State of Colorado, on June 20, 2025.

---

| | |
|:---|:---|
| **GCI LIBERTY, INC.** | **GCI LIBERTY, INC.** |
| By: | /s/ Renee L. Wilm |
| Name: | Renee L. Wilm |
| Title: | Chief Legal Officer and Chief Administrative Officer and Director |

---

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| \* |  |  |
| John C. Malone | Director | June 20, 2025 |
| \* | President and Chief Executive Officer |  |
| Ronald A. Duncan | (Principal Executive Officer) | June 20, 2025 |
| \* | Chief Accounting Officer and Principal Financial Officer |  |
| Brian J. Wendling | (Principal Accounting Officer) and Director | June 20, 2025 |
| /s/ Renee L. Wilm | Chief Legal Officer and |  |
| Renee L. Wilm | Chief Administrative Officer and Director | June 20, 2025 |

---

---

| | |
|:---|:---|
| \*By:  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Renee L. Wilm<br>|
|  | Renee L. Wilm |
|  | Attorney-in-fact |

---

## Exhibit 5.1

**Exhibit 5.1**

![](tm2510075d12_ex5-1img001.jpg)

June 20, 2025

GCI Liberty, Inc.<br> 12300 Liberty Boulevard<br> Englewood, Colorado 80112

Re: *GCI Liberty, Inc. Registration Statement on Form S-1*

Ladies and Gentlemen:

We have acted as special Nevada counsel to GCI Liberty, Inc., a Nevada corporation (the "<u>Company</u>"), in connection with the Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the "<u>Commission</u>"), File No. 333-286272 on March 31, 2025, as amended by Amendment No. 1 thereto, filed on May 6, 2025, by Amendment No. 2 thereto, filed on May 28, 2025 and by Amendment No. 3 thereto, filed on June 20, 2025, under the Securities Act of 1933, as amended (the "<u>Securities Act</u>") (such Registration Statement, as amended or supplemented, is hereinafter referred to as the "<u>Registration Statement</u>"). The Registration Statement relates to registration under the Securities Act, and the proposed offer and sale by the Company, of (i) up to 3,652,938 shares of Series A GCI Group common stock, $0.01 par value, of the Company (the "<u>Series A GCI Group Common Shares</u>"), (ii) up to 400,805 shares of Series B GCI Group common stock, $0.01 par value, of the Company (the "<u>Series B GCI Group Common Shares"),</u> and (iii) up to 25,130,220 shares of Series C GCI Group common stock, $0.01 par value, of the Company (the "<u>Series C GCI Group Common Shares</u>," and, together with the Series A GCI Group Common Shares and the Series B GCI Group Common Shares, the "<u>Shares</u>"), each pursuant to that certain Separation and Distribution Agreement, dated June 19, 2025, between Liberty Broadband Corporation and the Company, a form of which was filed as Exhibit 2.1 to Amendment No. 2 to the Registration Statement (the "<u>Distribution Agreement</u>").

This opinion letter is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K promulgated under the Securities Act.

In rendering the opinions set forth below, we have examined originals or copies, certified or otherwise identified to our satisfaction, of: (i) the Registration Statement, including the prospectus contained therein and the exhibits thereto; (ii) the Amended and Restated Articles of Incorporation of the Company, a form of which was filed as Exhibit 3.1 to Amendment No. 2 to the Registration Statement (the "<u>Articles</u>") and which will be in effect upon the closing of the offering contemplated by the Registration Statement; (iii) the Amended and Restated Bylaws of the Company, a form of which was filed as Exhibit 3.2 to Amendment No. 2 to the Registration Statement (the "<u>Bylaws</u>") and which will be in effect upon the closing of the offering contemplated by the Registration Statement; and (iv) certain resolutions adopted by the board of directors of the Company, effective as of March 26, 2025 and June 19, 2025, relating to the Articles, the Bylaws, the Distribution Agreement, the Registration Statement, and certain transactions to be taken in connection therewith. We have also made such further legal and factual examinations and investigations as we deemed necessary for purposes of expressing the opinions set forth herein. In our examination, we have assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic, certified or photostatic copies, and the authenticity of the originals of such copies.

**Greenberg Traurig, LLP \| Attorneys at Law**<br> *10845 Griffith Peak Drive \| Suite 600 \| Las Vegas, Nevada 89135 \| T +1 702.792.3773 \| F +1 702.792.9002*<br> www.gtlaw.com<br>

June 20, 2025<br> Page 2

As to any facts material to the opinions expressed herein that we did not independently establish or verify, we have relied upon statements and representations of officers and other representatives of the Company and others and of public officials.

Based upon and subject to the foregoing and subject to the assumptions, qualifications and limitations set forth herein, we are of the opinion that the Shares have been duly authorized by all necessary corporate action and will be validly issued, fully paid and non-assessable when (i) the Registration Statement shall have become effective under the Securities Act, (ii) the Articles shall have been filed with the Secretary of State of the State of Nevada and shall have become effective in accordance with the terms thereof, (iii) the Bylaws shall have been duly adopted by the Board, and (iv) the Shares shall have been duly executed, authenticated delivered and issued as described in the Registration Statement and in accordance with the provisions of the Distribution Agreement.

The opinions expressed herein are based upon and limited to the laws of the State of Nevada. We express no opinion herein as to any other laws, statutes, regulations or ordinances.

We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement and to the reference to our firm under the caption "Legal Matters" in the prospectus constituting part of the Registration Statement. In giving such consent, we do not thereby admit that we are experts within the meaning of the Securities Act or the rules and regulations of the Commission or that this consent is required by Section 7 of the Securities Act.

---

| |
|:---|
| Very truly yours, |
| /s/ GREENBERG TRAURIG, LLP |

---

---

| | |
|:---|:---|
| **Greenberg Traurig, LLP \| Attorneys at Law** | **Greenberg Traurig, LLP \| Attorneys at Law** |
|  | www.gtlaw.com |

---

## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Tables**

**Form S-1**

(Form Type)

**GCI Liberty, Inc.**

(Exact Name of Registrant as Specified in its Charter)<sup>\*</sup>

 

<u>Table 1—Newly Registered and Carry Forward Securities</u>

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security<br> Type** | **Security Class<br> Title** | **Fee <br> Calculation<br> or Carry <br> Forward <br> Rule** | **Amount <br> Registered<sup>(1)</sup>**  | **Proposed <br> Maximum <br> Offering <br> Price Per<br> Unit** | **Maximum<br> Aggregate Offering<br> Price<sup>(2)</sup>**  | **Fee Rate<sup>(3)</sup>**  | **Amount of<br> Registration Fee** | **Carry** <br> **Forward** <br> **Form** <br> **Type** | **Carry** <br> **Forward** <br> **File** <br> **Number** | **Carry** <br> **Forward** <br> **Initial** <br> **effective** <br> **date** | **Filing Fee** <br> **Previously** <br> **Paid In** <br> **Connection** <br> **with** <br> **Unsold** <br> **Securities** <br> **to be** <br> **Carried** <br> **Forward** |
| **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** | **<u>Newly Registered Securities</u>** |
| &nbsp;&nbsp;Fees to Be Paid | Equity | &nbsp;&nbsp;Series A GCI Group common stock, par value $0.01 per share | 457(c) | 3652938.00 | &nbsp;&nbsp;N/A | $322883189.82 | 0.00015310 | $49433.42 |  |  |  |  |
| &nbsp;&nbsp;Fees to Be Paid | Equity | &nbsp;&nbsp;Series B GCI Group common stock, par value $0.01 per share | 457(c) | 400805.00 | &nbsp;&nbsp;N/A | $38377078.75 | 0.00015310 | $5875.53 |  |  |  |  |
| &nbsp;&nbsp;Fees to Be Paid | Equity | &nbsp;&nbsp;Series C GCI Group common stock, par value $0.01 per share | 457(c) | 25130220.00 | &nbsp;&nbsp;N/A | $2243500390.50 | 0.00015310 | $343479.91 |  |  |  |  |
| &nbsp;&nbsp;Fees Previously Paid | Equity | &nbsp;&nbsp;Series A GCI Group common stock, par value $0.01 per share | 457(c) | 3650483.00 | &nbsp;&nbsp;N/A | $308137270.03 | 0.00015310 | $47175.82 |  |  |  |  |
| &nbsp;&nbsp;Fees Previously Paid | Equity | &nbsp;&nbsp;Series B GCI Group common stock, par value $0.01 per share | 457(c) | 401261.00 | &nbsp;&nbsp;N/A | $31649461.38 | 0.00015310 | $4845.53 |  |  |  |  |
| &nbsp;&nbsp;Fees Previously Paid | Equity | &nbsp;&nbsp;Series C GCI Group common stock, par value $0.01 per share | 457(c) | 24657202.00 | &nbsp;&nbsp;N/A | $2085876003.19 | 0.00015310 | $319347.62 |  |  |  |  |
| **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** | **<u>Carry Forward Securities</u>** |
| &nbsp;&nbsp;Carry Forward Securities |  | &nbsp;&nbsp;— |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** |  |  | $2604760659.07 |  | $398788.86 |  |  |  |  |
| &nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;**Total Fees Previously Paid** |  |  |  |  | $371368.97 |  |  |  |  |
| &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** |  |  |  |  | $27419.89 |  |  |  |  |

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\* Capitalized terms used but not defined herein shall have the meaning assigned to them in the Registrant's Registration Statement on Form S-1 to which this exhibit relates.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Represents the estimated maximum number of shares of the Registrant's common stock, par value $0.01 per share (the "GCI
Group common stock"), to be issued by the Registrant upon completion of the distribution described in the prospectus contained herein.
The estimated maximum number of shares utilizes the anticipated distribution ratio of 0.20, which is the number of shares of GCI Group
common stock, subject to the declaration of the dividend for the distribution described in the prospectus contained herein (the "distribution"),
to be distributed for each share of LBRDA, LBRDB and LBRDK (each as defined below) in the distribution, with cash (without interest) being
paid in lieu of any fractional shares of GCI Group common stock. The actual number of shares of GCI Group common stock to be distributed
may be less than the maximum stated in the table. The number of shares of the Registrant's proposed Series A GCI Group common stock,
par value $0.01 per share ("GLIBA"), being registered has been determined based upon the 18,264,690 shares of Liberty Broadband
Series A common stock, par value $0.01 per share ("LBRDA"), outstanding as of June 16, 2025 or issuable or expected to be
exchanged or converted prior to the record date of the spin-off described in the accompanying prospectus, multiplied by 0.20, which is
the number of shares of GLIBA that Liberty Broadband intends to distribute to holders of LBRDA for each share of LBRDA held by them as
of the record date. The number of shares of the Registrant's proposed Series B GCI Group common stock, par value $0.01 per share
("GLIBB"), being registered has been determined based upon the 2,004,028 shares of Liberty Broadband Series B common stock,
par value $0.01 per share ("LBRDB"), outstanding as of June 16, 2025, multiplied by 0.20, which is the number of shares of
GLIBB that Liberty Broadband intends to distribute to holders of LBRDB for each share of LBRDB held by them as of the record date. The
number of shares of the Registrant's proposed Series C GCI Group common stock, par value $0.01 per share ("GLIBK"),
being registered has been determined based upon (x) the 123,119,667 shares of Liberty Broadband Series C common stock, par value $0.01
per share ("LBRDK"), outstanding as of June 16, 2025, multiplied by 0.20, which is the number of shares of GLIBK that Liberty
Broadband intends to distribute to holders of LBRDK for each share of LBRDK held by them as of the record date, (y) up to 31,169 shares
of GLIBK to be issued in the distribution as a result of the accelerated pro rata vesting of a certain portion of restricted stock units
with respect to LRBDK held by GCI employees prior to the record date, as described in the prospectus contained herein, and (z) up to 475,118
shares of GLIBK, assuming all exercisable stock options to purchase shares of LBRDK are exercised prior to the record date.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Calculated in accordance with Rule 457(a) and 457(c) under the Securities Act, using (i) with respect to GLIBA and GLIBK, the average
of the high and low trading prices of LBRDA and LBRDK, respectively, on the Nasdaq Global Select Market on June 17, 2025 (which were $88.39
and $89.275, respectively) and (ii) with respect to GLIBB, the average of the bid and asked price of LBRDB quoted on the OTC Markets on
June 17, 2025 (which was $95.75). The Registrant believes these estimated prices approximate the estimated trading or quotation prices,
as applicable, for GLIBA, GLIBB and GLIBK immediately following the transaction being registered hereby.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Calculated on the basis of $153.10 per $1,000,000 of the proposed maximum aggregate offering price.