STAMFORD, Conn. and
SYRACUSE, N.Y., May 18, 2015 /PRNewswire/ -- Charter
Communications, Inc. (NASDAQ: CHTR) (together with its subsidiaries
"Charter") and Advance/Newhouse (the parent company of Bright House
Networks, LLC) jointly announced that the companies remain
committed to completing their previously announced transaction on
the same economic and governance terms. The companies have extended
their good faith negotiating period for an additional 30 days under
the previously announced agreement for Charter to acquire Bright
House Networks ("Bright House") for $10.4
billion. Bright House is the sixth largest cable operator in
the United States, and serves
approximately 2 million video customers in central Florida including Orlando and Tampa
Bay, as well as Alabama,
Indiana, Michigan, and California.
![Charter Communications Logo. Charter Communications Logo.](http://photos.prnewswire.com/prnvar/20110526/AQ10195LOGO)
Tom Rutledge, President and CEO
of Charter Communications said, "Bright House and its employees
have created a high quality service operation, and the addition of
Bright House brings additional scale and strategic flexibility to
Charter over time. We look forward to completing the transaction as
planned, and our teams are working together to make that
happen."
Steven Miron, Chief Executive
Officer of Bright House Networks said, "We continue to be excited
about the transaction with Charter. We believe this combination
positions the new company to become an industry consolidator and
growth platform to develop innovative products in serving
customers, growing market share and creating value for
shareholders."
About Charter
Charter (NASDAQ: CHTR) is a
leading broadband communications company and the fourth-largest
cable operator in the United
States. Charter provides a full range of advanced broadband
services, including advanced Charter Spectrum TV® video
entertainment programming, Charter Spectrum Internet® access, and
Charter Spectrum Voice®. Spectrum Business similarly provides
scalable, tailored, and cost-effective broadband communications
solutions to business organizations, such as business-to-business
Internet access, data networking, business telephone, video and
music entertainment services, and wireless backhaul. Charter's
advertising sales and production services are sold under the
Charter Media® brand. More information about Charter can be found
at charter.com.
About Bright House Networks
Bright House
Networks is the sixth largest owner and operator of cable systems
in the U.S. and the second largest in Florida, with technologically advanced systems
located in five states including Florida, Alabama, Indiana, Michigan and California and two of the top 20 DMAs. Bright
House Networks serves approximately 2.5 million customers who
subscribe to one or more of its video, high-speed data, home
security and automation and voice services. The company also offers
a strong portfolio of customizable, advanced business solutions for
video, voice, data, cloud-based and managed services. The company
is MEF-certified and also recently received the Cisco® Master
Service Provider Certification under the Cisco Cloud and Managed
Service Program, the first cable operator in the United States to achieve this designation.
Bright House Networks also owns and operates exclusive,
award-winning, local news and sports channels in its Florida markets. For more information about
Bright House Networks, or our products and services, visit
brighthouse.com.
Important Information For Investors And
Shareholders
This communication does not constitute an
offer to sell or the solicitation of an offer to buy any securities
or a solicitation of any vote or approval. Charter Communications,
Inc. ("Charter"), expects to file a proxy statement and/or a
registration statement with the Securities and Exchange Commission
("SEC") in connection with the transactions referred to in this
material. INVESTORS AND SECURITY HOLDERS OF CHARTER ARE URGED TO
READ THE STATEMENT(S) AND OTHER DOCUMENTS FILED WITH THE SEC
CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security
holders will be able to obtain free copies of the statement(s)
(when available) and other documents filed with the SEC by Charter
through the website maintained by the SEC at http://www.sec.gov.
Copies of the documents filed with the SEC by Charter will be
available free of charge on Charter's website at charter.com, in
the "Investor and News Center" near the bottom of the page, or by
contacting Charter's Investor Relations Department at
203-905-7955.
Charter and certain of its directors and executive officers may
be considered participants in any solicitation of proxies with
respect to the proposed transaction under the rules of the
SEC. Information about the directors and executive officers of
Charter is set forth in its Annual Report on Form 10-K for the year
ended December 31, 2014, which was
filed with the SEC on February 24,
2015, and its proxy statement for its 2015 annual meeting of
stockholders, which was filed with the SEC on March 18, 2015. These documents can be obtained
free of charge from the sources indicated above. Additional
information regarding the participants in the proxy solicitations
and a description of their direct and indirect interests, by
security holdings or otherwise, will also be included in any proxy
statement and other relevant materials to be filed with the SEC
when they become available.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements in this communication
regarding the proposed transaction between Bright House and
Charter, including any statements regarding the expected timetable
for completing the transaction, benefits and synergies of the
transaction, future opportunities for the respective companies and
products, and any other statements regarding Bright House's and
Charter's future expectations, beliefs, plans, objectives,
financial conditions, assumptions or future events or performance
that are not historical facts are "forward-looking" statements made
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements are often, but not always, made
through the use of words or phrases such as "may", "believe,"
"anticipate," "could", "should," "intend," "plan," "will,"
"expect(s)," "estimate(s)," "project(s)," "forecast(s)",
"positioned," "strategy," "outlook" and similar expressions. All
such forward-looking statements involve estimates and assumptions
that are subject to risks, uncertainties and other factors that
could cause actual results to differ materially from the results
expressed in the statements. Among the key factors that could cause
actual results to differ materially from those projected in the
forward-looking statements are the following: the timing to
consummate the proposed transaction; the risk that a condition to
closing the proposed transaction may not be satisfied; the risk
that a regulatory approval that may be required for the proposed
transaction is not obtained or is obtained subject to conditions
that are not anticipated; Charter's ability to achieve the
synergies and value creation contemplated by the proposed
transaction; Charter's ability to promptly, efficiently and
effectively integrate acquired operations into its own operations;
and the diversion of management time on transaction-related issues.
Additional information concerning these and other factors can be
found in Charter's filings with the SEC, including its most recent
Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K. Charter assumes no obligation to
update any forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements
that speak only as of the date hereof.
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Contact:
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Media:
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Analysts:
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Justin
Venech
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Stefan
Anninger
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203-905-7818
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203-905-7955
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visit:http://www.prnewswire.com/news-releases/charter-and-advancenewhouse-re-affirm-commitment-to-bright-house-transaction-300084933.html
SOURCE Charter Communications, Inc.