8-KOther Events

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report (Jul 6, 2001)

Filed July 6, 2001For Securities:CHTR

Summary

Charter Communications, Inc. (CHTR) filed an 8-K on July 6, 2001, to report the closing of significant cable system transactions with AT&T Broadband as of June 30, 2001. This acquisition marks a substantial expansion for Charter, adding approximately 554,000 new customers to its existing base. The transaction involved a substantial cash outlay of $1.75 billion, supplemented by the transfer of cable systems valued at $24 million. This strategic move is a key development for Charter, indicating a strong push for market share growth and consolidation within the cable industry during this period. Investors should note the significant financial commitment made, which will likely impact the company's balance sheet and future financial performance. The filing also includes a press release dated July 2, 2001, providing further details on this material event.

Key Highlights

  • 1Charter Communications completed the acquisition of AT&T Broadband cable systems on June 30, 2001.
  • 2The transaction added approximately 554,000 new customers to Charter's subscriber base.
  • 3The purchase price consisted of $1.75 billion in cash.
  • 4Additional cable systems valued at $24 million were also part of the transaction consideration.
  • 5This acquisition represents a significant expansion of Charter's operational footprint and customer reach.
  • 6A press release dated July 2, 2001, was filed as an exhibit to this report.

Frequently Asked Questions

The main event reported is the completion of Charter Communications' acquisition of cable systems from AT&T Broadband on June 30, 2001.

Charter gained approximately 554,000 new customers through this transaction.

The total consideration for the acquisition was $1.75 billion in cash, plus cable systems valued at $24 million.

This acquisition is significant as it substantially increases Charter's customer base and expands its market presence, reflecting a strategy of growth and consolidation in the cable industry.