8-KOther Events

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report (Apr 22, 2002)

Filed April 22, 2002For Securities:CHTR

Summary

This 8-K filing from Charter Communications Holdings, LLC and Charter Communications Holdings Capital Corporation reports a significant change in their independent auditors. Effective April 22, 2002, the companies dismissed Arthur Andersen LLP and engaged KPMG LLP as their new auditors for the fiscal year 2002. The filing explicitly states that there were no disagreements with Arthur Andersen on any accounting principles, financial statement disclosures, or auditing procedures that would have led to a modification of their audit reports for the fiscal years 2001 and 2000. Furthermore, there were no reportable events that necessitated reference in Arthur Andersen's audit opinions. In addition to the auditor change, the report also discloses a recent acquisition of cable systems serving approximately 21,387 customers in Illinois from various Enstar entities for $48,293,000. The company also anticipates a further acquisition of approximately 6,513 customers from another Enstar entity in the third quarter of 2002 for $14,707,000. These acquisitions indicate ongoing strategic growth and consolidation efforts within Charter's operations.

Key Highlights

  • 1Charter Communications Holdings, LLC and Charter Communications Holdings Capital Corporation have changed their independent registered public accounting firm, dismissing Arthur Andersen LLP and engaging KPMG LLP.
  • 2The change in auditors is effective April 22, 2002, and KPMG will audit for the fiscal year 2002.
  • 3There were no disagreements or reportable events with the former auditor, Arthur Andersen, regarding accounting principles, disclosures, or auditing procedures in fiscal years 2000 and 2001.
  • 4Arthur Andersen has confirmed in writing its agreement with the disclosures made by Charter regarding the auditor change.
  • 5Charter completed an acquisition of approximately 21,387 customers in Illinois for $48,293,000 from Enstar entities.
  • 6Charter anticipates a further acquisition of approximately 6,513 customers in Illinois from an Enstar entity in Q3 2002 for $14,707,000.

Frequently Asked Questions

The filing states that the change was effective April 22, 2002, and was approved by the management and directors of Charter Communications Holdings, LLC and Charter Communications Holdings Capital Corporation. Importantly, the company noted no disagreements on any accounting principles, financial statement disclosures, or auditing procedures with Arthur Andersen.

No, the filing explicitly states that Arthur Andersen's audit reports for fiscal years 2000 and 2001 did not contain any adverse opinions, disclaimers of opinion, or qualifications. There were also no disagreements or reportable events that would have caused Arthur Andersen to reference them in their audit reports.

Charter Communications recently acquired assets of certain Illinois systems serving approximately 21,387 customers for $48,293,000. They also plan to acquire an additional approximately 6,513 customers in Illinois in the third quarter of 2002 for $14,707,000.

The filing was signed by Kent D. Kalkwarf, Executive Vice President and Chief Financial Officer, and Principal Financial Officer and Principal Accounting Officer for both Charter Communications Holdings, LLC and Charter Communications Holdings Capital Corporation.