Gannett Co. (GCI) announced that it will acquire 100 % of Quintillion, a fiber‑infrastructure provider that operates more than 1,800 miles of subsea and terrestrial fiber across Alaska, for an enterprise value of $310 million. The deal includes a $160 million unsecured loan to Quintillion and a reimbursement of up to $50 million in qualifying capital expenditures, with the possibility of additional earnout payments once performance targets are met.
Quintillion’s network is the first and only submarine and terrestrial fiber optic cable system in the U.S. Arctic. The existing 1,800‑mile network connects remote communities, hospitals, schools, and defense installations, and the company plans to extend the system by an additional 1,500 miles. The acquisition gives GCI immediate access to this critical infrastructure and positions the company to serve a growing demand for high‑capacity connectivity in underserved regions.
By combining Quintillion’s network with GCI’s statewide fiber assets, the company will create a ringed, self‑healing network that can automatically reroute traffic during outages. The enhanced resilience is expected to benefit key customers such as healthcare providers, educational institutions, public‑safety agencies, and national‑defense organizations that rely on uninterrupted connectivity in Alaska’s harsh environment.
GCI’s financial context underscores the strategic nature of the deal. In the first quarter of 2025, the company reported a net loss of $7.3 million on revenues of $571.6 million, a 10 % decline from the prior year, largely driven by asset sales and a shift toward digital revenue, which accounted for 44 % of total revenue. The acquisition aligns with GCI’s broader strategy of expanding high‑capacity connectivity while managing debt and improving profitability.
The transaction represents a significant shift for GCI, which has historically focused on media and digital‑marketing services. The company’s most recent acquisition was WordStream in 2018, and the purchase of Quintillion marks a departure toward infrastructure ownership. By adding a robust fiber network in Alaska, GCI positions itself to capture new revenue streams, enhance service reliability for critical customers, and strengthen its competitive stance in the growing broadband market.
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