SC TO-T
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE TO
(Rule 14d-100)
TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
CHARTER COMMUNICATIONS, INC.
(Name of Subject Company (Issuer))
CCHC, LLC, CCH II, LLC
AND CCH II CAPITAL CORP.
(Name of Filing Persons (Offeror))
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5.875% Convertible Senior Notes due 2009
(Title of Class of Securities)
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16117MAE7 and 16117MAD9
(CUSIP Number of Class of Securities) |
Grier C. Raclin
Executive Vice President, General Counsel and Corporate Secretary
12405 Powerscourt Drive
St. Louis, Missouri 63131
(314) 965-0555
(Name, address, and telephone number of person
authorized to receive notices and communications on behalf of filing persons)
With Copies to:
Dennis J. Friedman
Barbara L. Becker
Gibson, Dunn & Crutcher LLP
200 Park Avenue
New York, NY 10166
(212) 351-4000
CALCULATION OF FILING FEE
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Transaction Valuation
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Amount of Filing Fee |
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$358,875,000.00
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$38,399.63 |
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Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the
filing with which the offsetting fee was previously paid. Identify the previous filing by
registration statement number, or the form or schedule and the date of its filing. |
Amount Previously Paid: $38,399.63
Filing Parties: Charter Communications, Inc., CCH II, LLC and CCH II Capital Corp.
Form or Registration No.: 333-136508
Date Filed: August 11, 2006
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Check the box if the filing relates solely to preliminary communications made before the
commencement of a tender offer. |
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Check the appropriate boxes to designate any transactions to which this statement relates: |
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third party tender offer subject to Rule 14d-l |
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issuer tender offer subject to Rule 13e-4 |
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going-private transaction subject to Rule 13e-3 |
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amendment to Schedule 13D under Rule 13d-2 |
Check the following box if the filing is a final amendment reporting the results of the tender
offer. o
Table of Contents
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Item 1. |
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Summary Term Sheet. |
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Item 2. |
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Subject Company Information. |
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Item 3. |
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Identity and Background of Filing Person. |
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Item 4. |
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Terms of the Transaction. |
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Item 5. |
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Past Contracts, Transactions, Negotiations and Agreements |
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Item 6. |
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Purpose of the Transaction and Plans or Proposals |
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Item 7. |
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Source and Amount of Funds or Other Consideration. |
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Item 8. |
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Interest in the Securities of the Subject Company. |
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Item 9. |
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Persons/Assets, Retained, Employed, Compensated or Used. |
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Item 10. |
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Financial Statements. |
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Item 11. |
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Additional Information |
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Item 12. |
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Exhibits. |
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Item 13. |
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Information Required by Schedule 13E-3. |
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This Third Party Tender Offer Statement on Schedule TO relates to an offer by CCHC, LLC, a
Delaware limited liability company (CCHC), CCH II, LLC, a Delaware limited liability company
(CCH II), and CCH II Capital Corp., a Delaware corporation (CCH II Capital and together with
CCHC and CCH II, the Offerors), to pay up to $187,987,500
in cash, 45,000,000 shares of Charter
Communications, Inc. (Charter) Class A Common Stock, par value $0.001 (the Class A Common
Stock) and $146,250,000 principal amount of the 10.25% Senior Notes due 2010 issued by CCH II and
CCH II Capital (the CCH II Notes), to holders of up to
$450,000,000 of Charters $862,500,000
principal amount outstanding 5.875% Convertible Senior Notes due 2009 (the Convertible Notes) who
elect to exchange their Convertible Notes upon the terms and subject to the conditions set forth in
the Exchange Offer Prospectus dated August 11, 2006 (as the same may be amended or supplemented
from time to time, the Exchange Offer Prospectus), and the accompanying Letter of Transmittal
(the Letter of Transmittal), which are part of the Offerors Registration Statement on Form S-4
dated the date hereof (the Registration Statement) and are incorporated by reference herein.
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Item 1. Summary Term Sheet.
The information set forth in the Exchange Offer Prospectus in the sections entitled Summary
and Questions and Answers about the Exchange Offer is incorporated herein by reference.
Item 2. Subject Company Information.
(a) Name and Address.
The name of the subject company is Charter Communications, Inc. The address of Charters
principal executive offices is 12405 Powerscourt Drive, St. Louis, Missouri 63131. Its telephone
number is (314) 965-0555.
(b) Securities.
The subject class of securities is Charters 5.875% Convertible Senior Notes due 2009. As of
August 9, 2006, $862,500,000 aggregate principal amount of Convertible Notes was outstanding. The
Offerors are offering to acquire up to $450,000,000 of the Convertible Notes currently outstanding
in the Exchange Offer.
The information set forth in the Exchange Offer Prospectus in the sections entitled
Description of Capital Stock and Membership Units, Description of the Convertible Notes,
Description of the CCH II Notes, Questions and Answers about the Exchange Offer, Description
of the Exchange Offer and Price Range of Common Stock is incorporated herein by reference.
(c) Trading Market and Price.
The information set forth in the Exchange Offer Prospectus in the section entitled Questions
and Answers about the Exchange Offer What is the market value of the Convertible Notes is
incorporated herein by reference.
Item 3. Identity and Background of Filing Person.
(a) Name and Address.
The names of the filing persons are CCHC, LLC, CCH II, LLC and CCH II Capital Corp. The
address of CCHCs, CCH IIs and CCH II Capitals principal executive offices is 12405 Powerscourt
Drive, St. Louis, Missouri 63131. Their telephone number is (314) 965-0555. CCHC is an indirect
subsidiary of Charter. CCH II is a wholly-owned indirect subsidiary of CCHC. CCH II Capital is
wholly-owned subsidiary of CCH II.
Pursuant to Instruction C to this Third Party Tender Offer Statement on Schedule TO,
information regarding Charter, as the manager of CCHC and CCH II, is set forth herein.
The directors and executive officers of Charter, are listed in the table below. CCHC and CCH
II are managed by Charter and do not have a separate board of directors. The sole director of CCH
II Capital is listed in the table below. Each person listed as an executive officer below holds
the position described next to their name as an executive officer of Charter and also holds a
similar position with CCHC, CCH II and CCH II Capital.
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Name |
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Position |
Paul G. Allen
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Chairman of the Board of Directors of Charter |
W. Lance Conn
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Director of Charter |
Nathaniel A. Davis
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Director of Charter |
Jonathan L. Dolgan
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Director of Charter |
Rajive Johri
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Director of Charter |
Robert P. May
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Director of Charter |
David C. Merritt
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Director of Charter |
Marc B. Nathanson
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Director of Charter |
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Name |
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Position |
Jo Allen Patton
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Director of Charter |
Neil Smit
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Director of Charter and President and Chief Executive Officer of
Charter, sole Director of CCH II Capital Corp. |
John H. Tory
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Director of Charter |
Larry W. Wangberg
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Director of Charter |
Michael J. Lovett
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Executive Vice President and Chief Operating Officer |
Jeffrey T. Fisher
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Executive Vice President and Chief Financial Officer |
Grier C. Raclin
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Executive Vice President, General Counsel and Corporate Secretary |
Marwan Fawaz
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Executive Vice President and Chief Technical Officer |
Robert A. Quigley
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Executive Vice President and Chief Marketing Officer |
Sue Ann R. Hamilton
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Executive Vice President, Programming |
Lynne F. Ramsey
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Senior Vice President, Human Resources |
Kevin D. Howard
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Vice President and Chief Accounting Officer |
The address and telephone number of each director and executive officer is: c/o Charter
Communications, Inc., 12405 Powerscourt Drive, St. Louis, Missouri 63131; (314) 965-0555.
(b) Business and Background of Entities.
CCHC is a Delaware limited liability company. CCH II is a Delaware limited liability company.
CCH II Capital is a Delaware corporation. The information set forth in the Exchange Offer
Prospectus in the section entitled Business is incorporated herein by reference.
(c) Business and Background of Natural Persons.
The information set forth in the Exchange Offer Prospectus in the section entitled
Management is incorporated by reference herein.
On November 4, 2002, Charter received an informal, non-public inquiry from the staff of the
SEC. The SEC issued a formal order of investigation dated January 23, 2003, and subsequently served
document and testimony subpoenas on Charter and a number of its former employees. The investigation
and subpoenas generally concerned Charters prior reports with respect to its determination of the
number of customers, and various of its accounting policies and practices including its
capitalization of certain expenses and dealings with certain vendors, including programmers and
digital set-top terminal suppliers. On July 27, 2004, the SEC and Charter reached a final agreement
to settle the investigation. In the Settlement Agreement and Cease and Desist Order, Charter agreed
to the entry of an administrative order prohibiting any future violations of United States
securities laws and requiring certain other remedial internal practices and public disclosures.
Charter neither admitted nor denied any wrongdoing, and the SEC assessed no fine against Charter.
Item 4. Terms of the Transaction.
(a) Material Terms.
There will be no subsequent offering period for the Exchange Offer.
The information set forth in the Exchange Offer Prospectus in the sections entitled Summary,
Risk Factors Risks to Non-Tendering Holders of Convertible Notes, Risk Factors Risks to
Tendering Holders of Convertible Notes, Price Range of Common Stock, Unaudited Pro Forma
Consolidated Financials, Questions and Answers about the Offer, Description of the Exchange
Offer, Description of Capital Stock and Membership Units, Description of CCH II Notes and
Certain U.S. Federal Income Tax Consequences is incorporated by reference herein.
(b) Purchases.
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The information set forth in the Exchange Offer Prospectus in the section entitled Interest
of Directors and Officers in the Transaction is incorporated herein by reference.
Item 5. Past Contacts, Transactions, Negotiations and Agreements.
(a) Transactions.
Charter is a holding company whose principal assets are, for accounting purposes, an
approximate 48% equity interest and a 100% voting interest in Charter Communications Holding
Company, LLC (Charter Holdco), which is the direct parent of CCHC and the indirect parent of CCH
II and CCH II Capital. Charters only business is to act as the sole manager of Charter Holdco and
its subsidiaries. As sole manager of Charter Holdco, Charter controls the affairs of Charter
Holdco and most of its subsidiaries, including CCHC, CCH II and CCH II Capital. For a chart
showing the ownership structure of Charter and its subsidiaries, see the section set forth in the
Exchange Offer Prospectus entitled Summary Organizational Structure, which is incorporated
herein by reference.
In connection with the ownership structure discussed above, Charter is a party to management
arrangements with Charter Holdco and certain of its subsidiaries, including CCHC, CCH II and CCH II
Capital. Under these agreements, Charter provides management services for the cable systems owned
or operated by its subsidiaries. These management agreements provide for reimbursement to Charter
for all costs and expenses incurred by it for activities relating to the ownership and operation of
the managed cable systems, including corporate overhead, administration and salary expense.
For more information on the foregoing relationships please see the information set forth in
the Exchange Offer Prospectus in the sections entitled
Business, Managements Discussion and Analysis
of Financial Condition and Results of Operations of Charter, Managements Discussion and
Analysis of Financial Condition and Results of Operations of CCH II and Certain Relationships and
Related Party Transactions, which is incorporated herein by reference.
(b) Significant Corporate Events.
As of October 31, 2005, acting through a Special Committee of Charters Board of Directors,
Charter settled its dispute with Paul G. Allen, Charters controlling stockholder and Chairman of
the Board, related to the ownership of a Charter subsidiary, CC VIII, LLC (CC VIII).
Under the terms of the settlement, Charter Investment, Inc. (CII), 100% owned by Mr. Allen,
retained 30% of the Class A preferred equity interests it previously held in CC VIII, subject to
certain rights and restrictions concerning transfer. Of the other 70% of the CC VIII preferred
interests, 7.4% were transferred by CII to CCHC in exchange for a subordinated exchangeable note
issued to CII and the remaining 62.6% was transferred by CII to Charter Holdco, in accordance with
the terms of the settlement, for no additional monetary consideration. Charter Holdco contributed
the 62.6% interest to CCHC. The note had an initial accreted value of $48.2 million accreting at
14%, compounded quarterly, with a 15-year maturity.
Also as part of the settlement, CC VIII issued approximately 49 million additional Class B
units to CC V Holdings, LLC, the direct parent of CC VIII, in consideration for prior capital
contributions to CC VIII by CC V Holdings, LLC in connection with a transaction that was unrelated
to the dispute with CII. As a result of these transfers and issuances, Mr. Allens pro rata share
of the profits and losses of CC VIII is approximately 5.6%.
For more information on the foregoing transaction please see the information set forth in the
Exchange Offer Prospectus and Charters 10-K for the year ending December 31, 2005 in the sections
entitled Certain Relationships and Related Party Transactions, which are incorporated herein by
reference.
(e) Agreements Involving the Subject Companys Securities.
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The information set forth above in Item 5(a) to this Third Party Tender Offer Statement on
Schedule TO is incorporated herein by reference. Additionally, the information in the Exchange
Offer Prospectus in the section entitled Description of Capital Stock Membership UnitsShare
Lending Agreement is incorporated herein by reference.
Item 6. Purposes of the Transaction and Plans or Proposals.
(a) Purposes.
The information in the Exchange Offer Prospectus in the sections entitled Summary Purpose
of the Exchange Offer, Questions and Answers about the Exchange Offer and Use of Proceeds is
incorporated herein by reference.
(b) Use of Securities Acquired.
The information in the Exchange Offer Prospectus in the sections entitled Summary Purpose
of the Exchange Offer, Summary The Exchange Offer, Risk Factors Risks to Non-Tendering
Holders of Convertible Notes, Questions and Answers about the Exchange Offer, Use of Proceeds
and Description of the Exchange Offer is incorporated herein by reference.
(c) Plans.
Not applicable.
Item 7. Source and Amount of Funds or Other Consideration.
(a) Source of Funds.
The Offerors intend to fund the cash component of the Exchange Consideration from available
cash.
(b) Conditions.
Not applicable.
(d) Borrowed Funds.
Not applicable.
Item 8. Interest in the Securities of the Subject Company.
(a) Securities Ownership.
The information set forth in the Exchange Offer Prospectus in the sections entitled Questions
and Answers about the Exchange Offer and Interest of Directors and Officers in the Transaction
is incorporated herein by reference.
(b) Securities Transactions.
The information set forth in the Exchange Offer Prospectus in the sections entitled Questions
and Answers about the Exchange Offer and Interest of Directors and Officers in the Transaction
is incorporated herein by reference.
Item 9. Persons/Assets, Retained, Employed, Compensated or Used.
(a) Solicitations or Recommendations.
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The information set forth in the Exchange Offer Prospectus in the sections entitled Dealer
Managers, Information Agent and Exchange Agent is incorporated herein by reference.
Item 10. Financial Statements.
(a) Financial Information.
The information set forth in the Exchange Offer Prospectus in the sections entitled Where You
Can Find More Information, Incorporation by Reference, SummarySummary Consolidated Financial
Data, SummaryRatio of Earnings to Fixed Charges, SummaryBook Value Per Common Share and
Selected Financials and the consolidated financial statements included therein is incorporated
herein by reference.
(b) Pro Forma Information.
The information set forth in the Exchange Offer Prospectus in the sections entitled
SummarySummary Consolidated Financial Data and Unaudited Pro Forma Consolidated Financials is
incorporated herein by reference.
Item 11. Additional Information.
(a) Agreements, Regulatory Requirements and Legal Proceedings.
The information set forth in the Exchange Offer Prospectus in the sections entitled
SummaryRecent Events and Questions and Answers about the Exchange Offer is incorporated
herein by reference.
(b) Other Material Information.
Not applicable.
Item 12. Exhibits.
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Exhibit |
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Description |
(a)(1)(i)
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Exchange Offer Prospectus, dated
August 11, 2005 (incorporated by reference to the
Offerors Registration Statement on Form S-4 filed on
August 11, 2006). |
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(a)(1)(ii)
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Letter of Transmittal (incorporated by reference to Exhibit 99.1 of the Offerors
Registration Statement on Form S-4 filed on August 11, 2006). |
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(a)(1)(iii)
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Letter of Registered Holders and the Depository Trust Company Participants (incorporated
by reference to Exhibit 99.2 of the Offerors Registration Statement on Form S-4 filed
on August 11, 2006). |
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(a)(1)(iv)
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Letter to Clients (incorporated by reference to Exhibit 99.3 of the Offerors
Registration Statement on Form S-4 filed on August 11, 2006). |
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(a)(1)(v)
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Letter to Brokers (incorporated by reference to Exhibit 99.4 of the Offerors
Registration Statement on Form S-4 filed on August 11, 2006). |
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(a)(2)
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None |
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(a)(3)
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None |
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(a)(4)
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Exchange Offer Prospectus, dated
August 11, 2005 (filed herewith as exhibit (a)(1)(i)). |
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(a)(5)
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Press release dated August 11, 2006 (filed pursuant to Rule 425 under the Securities
Act of 1933). |
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(b)
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None |
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(d)
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Share Lending Agreement, dated as of November 22, 2004 between Charter Communications,
Inc., Citigroup Global Markets Limited, through Citigroup Global Markets, Inc.
(incorporated by reference to Exhibit 10.6 to the current report on Form 8-K of Charter
Communications, Inc. filed on November 30, 2004 (File No. 000-27927)). |
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Exhibit |
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Description |
(g)
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None |
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(h)
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Opinion of Gibson, Dunn & Crutcher regarding tax matters (incorporated by reference to
Exhibit 8.1 of the Offerors Registration Statement on
Form S-4 filed on August 11,
2006). |
Item 13. Information Required by Schedule 13E-3.
Not applicable.
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SIGNATURES
After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement
is true, complete and correct.
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CHARTER COMMUNICATIONS HOLDING COMPANY, LLC |
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By: |
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CHARTER COMMUNICATIONS, INC., as Manager |
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By: |
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/s/ Kevin D. Howard |
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Name:
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Kevin
D. Howard
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Title: |
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Vice President and Chief Accounting
Officer |
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CCH II, LLC |
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By: |
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CHARTER COMMUNICATIONS, INC., as Manager |
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By: |
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/s/ Kevin
D. Howard |
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Name:
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Kevin
D. Howard
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Title: |
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Vice President and Chief Accounting
Officer |
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CCH II CAPITAL CORP. |
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By: |
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/s/ Kevin
D. Howard |
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Name:
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Kevin
D. Howard
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Title: |
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Vice President and Chief Accounting
Officer |
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Dated: August 10, 2006 |
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9
EX-99.A.5
Filed by CCH II, LLC
Pursuant to Rule 425 under the Securities Act of 1933
Subject Corporation: Charter Communications, Inc.
Registration No.: 333-136508
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NEWS |
We have filed a registration statement on Form S-4 (including the prospectus contained
therein) with the Securities and Exchange Commission for the issuance of securities to which this
communication relates. Before you tender the subject securities or otherwise make any investment
decision with respect to the subject securities or the securities being offered, you should read
the prospectus in that registration statement and other documents we have filed with the SEC for
more complete information about Charter Communications, Inc. and its subsidiaries. You may get
these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov or by contacting
Charters Investor Relations department at Charter Plaza, 12405 Powerscourt Drive, St. Louis,
Missouri 63131, telephone number (314) 965-0555.
FOR RELEASE: 6:00AM CT, Friday, August 11, 2006
CHARTER COMMUNICATIONS ANNOUNCES EXCHANGE OFFER FOR UP TO $450 MILLION PRINCIPAL AMOUNT OF 5.875% CONVERTIBLE SENIOR NOTES DUE 2009
ST. LOUIS, MO Charter Communications, Inc. (Nasdaq: CHTR) (Charter or the Company) announced
today that its wholly owned subsidiary, CCHC, LLC (CCHC) and CCHCs wholly owned subsidiary, CCH
II, LLC (CCH II and, together with CCHC, the Offerors), have filed a registration statement on
Form S-4 with the United States Securities and Exchange Commission (SEC) relating to a proposed
exchange offer (the Convertible Exchange Offer) for up to $450.0 million of its $862.5 million
principal amount outstanding 5.875% Convertible Senior Notes due 2009 (Convertible Notes). The
purpose of the Exchange Offer is to improve Charters financial flexibility by extending debt
maturities and reducing overall indebtedness.
The Offerors are offering up to $188.0 million in cash, 45 million shares of Class A Common Stock
of Charter (Class A Common Stock) and $146.3 million principal amount of new CCH II Notes (CCH
II Notes) in exchange for up to $450.0 million aggregate principal amount of Convertible Notes.
The exchange consideration offered per $1,000 principal amount of Convertible Notes validly
tendered for exchange and not validly withdrawn on or prior to the expiration date consists of:
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$417.75 in cash, |
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100 shares of Class A Common Stock, and |
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$325.00 principal amount of 10.25% Senior Notes due 2010 issued by CCH II as an addition
to its currently outstanding series. |
The CCH II Notes will be pari passu with, of the same class as, and otherwise be substantially
identical in all respects to approximately $2.1 billion principal amount of currently outstanding
CCH II notes. The CCH II Notes will be issued under a temporary CUSIP number until the next
interest payment date, which is expected to be September 15, 2006, at which time it is expected
that they will be mandatorily merged into the existing CUSIP number of approximately $1.6 billion
outstanding principal amount of CCH II notes.
The Convertible Exchange Offer is not conditioned on a minimum amount of Convertible Notes being
tendered. However, the Offerors will not accept for exchange more than $450.0 million principal
amount of Convertible Notes (the Maximum Amount). As a result, if more than the Maximum Amount
of Convertible Notes is validly tendered and not validly withdrawn, the Offerors will accept
Convertible Notes from each holder pro rata, based on the total principal amount of Convertible
Notes validly tendered and not validly withdrawn.
Subject to applicable securities laws and the terms set forth in this Convertible Exchange Offer,
the Offerors reserve the right to amend the Convertible Exchange Offer in any respect; however, the
Offerors do not currently intend to change the amount of Class A Common Stock offered to more than
134 shares or less than 67 shares per $1,000 principal amount of Convertible Notes.
The Convertible Exchange Offer will expire at 11:59 PM ET on September 8, 2006, unless extended or
earlier terminated. A registration statement relating to the Convertible Exchange Offer is being
filed today with the SEC but will not be effective upon filing. The CCH II Notes and shares may not
be issued, nor may the Convertible Exchange Offer be accepted, prior to the time the registration
statement becomes effective.
In conjunction with certain private exchange offers, also being commenced today, by subsidiaries
of Charter Communications Holdings LLC, CCHC will contribute its 70% interest (the CC VIII
Interest) in the Class A preferred equity interests of CC VIII, LLC, a majority-owned indirect
subsidiary of Charter Communications Operating, LLC, to CCH I, LLC (CCH I). The CC VIII Interest
will be pledged as security for approximately $2.5 billion in outstanding 11% Senior Secured Notes
due 2015 of CCH I (CCH I Notes) as well as up to an additional $675 million in additional CCH I
Notes that may be issued in the private exchange offers.
The Tender Offer Statement, also being filed today with the SEC (including the prospectus attached
as an exhibit thereto, a related letter of transmittal and other offer documents, collectively the
Offer Documents) contains important information that should be read carefully before any decision
is made with respect to the Convertible Exchange Offer. It is likely that, during the pendency of
the Convertible Exchange Offer, the market price of Charters Class A Common Stock will be
volatile.
The Offer Documents will be made available to all holders of the Convertible Notes. Copies of the
prospectus and related letter of transmittal may be obtained from Global Bondholder Services
Corporation, the information agent for the Exchange Offer, at (866) 470-3700 (U.S. Toll-free) or
(212) 430-3774. The Dealer Managers for the Exchange
Offer are Citigroup Global Markets Inc. and Banc of America Securities LLC. For additional
information, you may contact the Citigroup Special Equity Transactions Group at (877) 531-8365
(U.S. Toll-free) or (212) 723-7406 or the Banc of America Convertible Securities Department at
(888) 583-8900 x2200 (U.S. Toll-free) or (212) 933-2200. The Offer Documents will also be available
free of charge at the SECs website at www.sec.gov.
This press release is neither an offer to sell nor a solicitation of an offer to buy any
securities. There shall not be any sale of the CCH II Notes or shares to be issued in the exchange
in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the laws of such jurisdiction.
About Charter Communications®
Charter Communications, Inc. is a leading broadband communications company and the third-largest
publicly traded cable operator in the United States. Charter provides a full range of advanced
broadband services, including advanced Charter Digital® video entertainment programming, Charter
High-Speed Internet access service, and Charter Telephone services. Charter Business similarly
provides scalable, tailored and cost-effective broadband communications solutions to business
organizations, such as business-to-business Internet access, data networking, video and music
entertainment services and business telephone. Charters advertising sales and production services
are sold under the Charter Media® brand. More information about Charter can be found at www.charter.com.
Contact:
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Media:
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Analysts: |
Anita Lamont
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Mary Jo Moehle |
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(314) 543-2215
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(314) 543-2397 |
Cautionary Statement Regarding Forward-Looking Statements:
This release includes forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities
Exchange Act of 1934, as amended (the Exchange Act), regarding, among other things, our plans,
strategies and prospects, both business and financial. The Company will not undertake to revise
forward-looking projections to reflect events after this date. Although we believe that our plans,
intentions and expectations reflected in or suggested by these forward-looking statements are
reasonable, we cannot assure you that we will achieve or realize these plans, intentions or
expectations. Forward-looking statements are inherently subject to risks, uncertainties and
assumptions. Many of the forward-looking statements contained in this release may be identified by
the use of forward-looking words such as believe, expect, anticipate, should, planned,
will, may, intend, estimated, aim, on track, and potential, among others. Important
factors that could cause actual results to differ materially from the forward-looking statements we
make in this release are set forth in reports or documents that we file from time to time with the
SEC, and include, but are not limited to:
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the availability, in general, of funds to meet interest payment obligations under our
debt and to fund our operations and necessary capital expenditures, either through cash
flows from operating activities, further borrowings or other sources and, in particular,
our ability to be able to provide under applicable debt instruments and under applicable
law, such funds (by dividend, investment or otherwise) to the applicable obligor of such
debt; |
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our ability to comply with all covenants in our indentures and credit facilities, any
violation of which would result in a violation of the applicable facility or indenture and
could trigger a default of other obligations under cross-default provisions; |
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our ability to pay or refinance debt prior to or when it becomes due and/or to take
advantage of market opportunities and market windows to refinance that debt through new
issuances, exchange offers or otherwise, including restructuring our balance sheet and
leverage position; |
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our ability to sustain and grow revenues and cash flows from operating activities by
offering video, high-speed Internet, telephone and other services and to maintain and grow
a stable customer base, particularly in the face of increasingly aggressive competition
from other service providers; |
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our ability to obtain programming at reasonable prices or to pass programming cost
increases on to our customers; |
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general business conditions, economic uncertainty or slowdown; and |
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the effects of governmental regulation, including but not limited to local franchise
authorities, on our business. |
All forward-looking statements attributable to us or any person acting on our behalf are expressly
qualified in their entirety by this cautionary statement. We are under no duty or obligation to
update any of the forward-looking statements after the date of this release.