HomeMy WebLinkAbout14-117RESOLUTION NO. 14-117
APPROVING THE PROPOSED TRANSFER OF
THE CABLE FRANCHISE CURRENTLY HELD BY CC VIII OPERATING, LLC
D/B/A CHARTER COMMUNICATIONS
WHEREAS, CC VIII Operating, LLC, d/b/a Charter Communications (hereinafter
referred to as "Grantee', currently holds a cable television franchise ffranchise'�
granted by the City of Lakeville, Minnesota ("City'; and
WHEREAS, Grantee owns, operates and maintains a cable television system in
the City ("System's pursuant to the terms of the Franchise; and
WHEREAS, on February 12, 2014, Comcast Corporation ("Comcast") and Time
Warner Cable Inc. ("TWC") entered into an Agreement and Plan of Merger; and
WHEREAS, on April 25, 2014, Charter Communications, Inc., ("Charter's the
parent entity of Grantee and Comcast entered into the Comcast/Charter Transactions
Agreement, and contingent upon Comcast's consummation of its acquisition of TWC,
Charter shall undertake a pro forma corporate restructuring pursuant to which Charter
will merge with and into a wholly owned indirect subsidiary of Charter which will
become "New Charter," which shall become the ultimate parent of Grantee
('Transaction"); and
WHEREAS, the ultimate control of Grantee will not change as a result of this
corporate restructuring, and the stockholders of Charter shall become the stockholders
of New Charter; and
WHEREAS, on or about August 29, 2014 the City received from Grantee, FCC
Form 394 - Application for Franchise Authority Consent to Assignment or Transfer of
Control of Cable Television Franchise ("Application'; and
WHEREAS, Federal law and the terms of the Franchise require that the City
take action to consider the Application within one hundred twenty (120) days of the
date of receipt, or on or before December 27, 2014; and
WHEREAS, Section 3-11-1.8 of the City's Cable Television Regulatory Ordinance
requires the City's advance written consent prior to the Grantee's change in ownership;
and
WHEREAS, as a result of the proposed Transaction Grantee has requested
consent from the City to the proposed change in ownership; and
WHEREAS, the City has reviewed the proposed Transaction, and based on
information provided by Grantee and Comcast and on the information received by the
City, the City has elected to approve the proposed Transaction subject to certain
conditions as set forth herein.
NOW, THEREFORE, the City of Lakeville, Minnesota hereby resolves as follows:
1. All of the above recitals are hereby incorporated by reference as if fully set forth
herein.
2. The Franchise is in full force and effect and Grantee is the lawful holder of the
Franchise.
3. The City hereby consents and approves of the proposed Transaction.
4. Grantee will be the lawful holder of the Franchise after completion of the
Transaction.
5. The City's consent to the Transaction shall not serve to waive any rights City may
have to hold Grantee liable for any and all liabilities, known and unknown, under
the Franchise.
6. In the event the proposed Transaction contemplated by the foregoing resolution
is not completed, for any reason, the City's consent shall not be effective.
This Resolution shall take effect and continue and remain in effect from and after
the date of its approval.
Approved by the City of Lakeville, Minnesota this 1St day of December, 2014
ATTEST:
CITY OF LAKEVILLE, MINNESOTA
7.
By: By:
Charlene Friedges, City; lerk Matt Little, Mayor