EX-99.1
2
exhibit99-1.htm
EXHIBIT 99.1
Exhibit 99.1
Exhibit
99.1
NEWS
FOR
RELEASE: Tuesday, July 3, 2006
Charter
Completes Sales to Cebridge and New Wave Communications
Sale
of
Assets Enhances Operating Efficiency and Improves Liquidity
ST.
LOUIS, July 3, 2006 -- Charter Communications, Inc. (Nasdaq:CHTR) (the "Company"
or "Charter") today announced completion of the sales of various geographically
non-strategic assets to Cebridge Acquisition Co., LLC and New Wave
Communications for aggregate proceeds of approximately $896 million, subject
to
post-closing adjustments. The transactions, which were announced in February
2006, include certain cable television systems in West Virginia and Virginia,
sold to Cebridge, and in Illinois and Kentucky, sold to New Wave.
"These
sales reflect our strategy to divest geographically non-strategic assets
aimed
at enhancing overall operating efficiency, while also increasing the Company's
liquidity", Charter President and CEO Neil Smit said.
The
systems purchased by Cebridge (which now operates as Suddenlink Communications)
serve approximately 242,600 analog video customers, and those purchased by
New
Wave serve approximately 75,200 analog video customers.
Daniels
& Associates and JPMorgan Securities Inc. advised Charter in these
transactions.
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
digital
video entertainment programming (Charter Digital™), 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, and video and music entertainment services. Charter's
advertising sales and production services are sold under the Charter Media®
brand. More information about Charter can be found at www.charter.com.
About
Suddenlink Communications
Formerly
known as Cebridge Connections, Suddenlink is now among the nation's 10 largest
cable system operators, serving approximately 1.4 million customers and offering
digital television, phone, security, and high-speed Internet services.
About
New
Wave
New
Wave
is a cable television provider primarily in small and mid-sized communities
in
the Midwest and Southeast United States that offers a wide range of products
including cable television, high speed data services and telephone service.
NewWave currently serves nearly 20,000 customers and is headquartered in
Sikeston, Missouri. Wachovia Capital Partners back the company as financial
partners. Wachovia Capital Partners is the principal investing arm of Wachovia
Corporation and has invested more than $2.7 billion of capital since inception.
Waller Capital Corp. assisted NewWave in the acquisition of these properties.
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. 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", "aimed" 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:
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.
CONTACT:
Charter Communications, Inc.:
Anita
Lamont, 314-543-2215
or
Mary
Jo
Moehle, 314-543-2397
or
Cebridge
Acquisition Co., LLC:
Pete
Abel, 314-315-9346
or
New
Wave
Communications:
Jim
Gleason, 573-472-9500

EX - 99 . 1 2 exhibit99 - 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 Exhibit 99 . 1 NEWS FOR RELEASE : Tuesday , July 3 , 2006 Charter Completes Sales to Cebridge and New Wave Communications Sale of Assets Enhances Operating Efficiency and Improves Liquidity ST . LOUIS , July 3 , 2006 -- Charter Communications , Inc . ( Nasdaq : CHTR ) ( the " Company " or " Charter " ) today announced completion of the sales of various geographically non - strategic assets to Cebridge Acquisition Co . , LLC and New Wave Communications for aggregate proceeds of approximately $ 896 million , subject to post - closing adjustments . The transactions , which were announced in February 2006 , include certain cable television systems in West Virginia and Virginia , sold to Cebridge , and in Illinois and Kentucky , sold to New Wave . " These sales reflect our strategy to divest geographically non - strategic assets aimed at enhancing overall operating efficiency , while also increasing the Company 's liquidity " , Charter President and CEO Neil Smit said . The systems purchased by Cebridge ( which now operates as Suddenlink Communications ) serve approximately 242,600 analog video customers , and those purchased by New Wave serve approximately 75,200 analog video customers . Daniels & Associates and JPMorgan Securities Inc . advised Charter in these transactions . 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 digital video entertainment programming ( Charter Digital ™ ) , 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 , and video and music entertainment services . Charter 's advertising sales and production services are sold under the Charter Media ® brand . More information about Charter can be found at www.charter.com . About Suddenlink Communications Formerly known as Cebridge Connections , Suddenlink is now among the nation 's 10 largest cable system operators , serving approximately 1 . 4 million customers and offering digital television , phone , security , and high - speed Internet services . About New Wave New Wave is a cable television provider primarily in small and mid - sized communities in the Midwest and Southeast United States that offers a wide range of products including cable television , high speed data services and telephone service . NewWave currently serves nearly 20,000 customers and is headquartered in Sikeston , Missouri . Wachovia Capital Partners back the company as financial partners . Wachovia Capital Partners is the principal investing arm of Wachovia Corporation and has invested more than $ 2.7 billion of capital since inception . Waller Capital Corp . assisted NewWave in the acquisition of these properties . 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 . Although we believe that our plans , intentions and expectations reflected in or suggested by these forward - looking statements are reasonable , we can not 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 " , " aimed " 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 : 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 . CONTACT : Charter Communications , Inc . : Anita Lamont , 314 - 543 - 2215 or Mary Jo Moehle , 314 - 543 - 2397 or Cebridge Acquisition Co . , LLC : Pete Abel , 314 - 315 - 9346 or New Wave Communications : Jim Gleason , 573 - 472 - 9500