8-K/AOther Events

CHARTER COMMUNICATIONS, INC. /MO/ 8-K/A Report (Sep 4, 2003)

Filed September 4, 2003For Securities:CHTR

Summary

Charter Communications, Inc. (CHTR) filed an 8-K/A amendment on September 4, 2003, to correct an error in a previously filed report. The primary purpose of this filing is to announce the signing of a definitive agreement for the sale of certain cable television systems to Atlantic Broadband Finance, LLC. These systems serve approximately 235,000 customers across Florida, Pennsylvania, Maryland, Delaware, New York, and West Virginia. The sale price for these assets is approximately $765 million in cash. This transaction represents a significant divestiture for Charter, impacting its geographic footprint and customer base. Investors should pay close attention to the terms of the purchase agreement and the strategic rationale behind this sale as further details become available.

Key Highlights

  • 1Charter Communications entered into a definitive agreement to sell certain cable television systems.
  • 2The buyer is Atlantic Broadband Finance, LLC.
  • 3The divested systems serve approximately 235,000 customers.
  • 4The sale spans multiple states including Florida, Pennsylvania, Maryland, Delaware, New York, and West Virginia.
  • 5The transaction is valued at approximately $765 million in cash.
  • 6This filing is an amendment to a previous 8-K to correct an error in the purchase agreement.
  • 7The company filed the purchase agreement and a related press release as exhibits.

Frequently Asked Questions

This filing is an amendment to a previous 8-K report to correct an error in the purchase agreement. Its primary purpose is to officially announce the signing of a definitive agreement to sell certain cable television systems to Atlantic Broadband Finance, LLC.

Charter is selling cable systems serving approximately 235,000 customers located in Florida, Pennsylvania, Maryland, Delaware, New York, and West Virginia. The agreed-upon sale price is approximately $765 million in cash.

The buyer is Atlantic Broadband Finance, LLC.

This sale represents a significant divestiture for Charter, reducing its customer base by approximately 235,000 subscribers and narrowing its geographic presence. Investors should consider this as part of Charter's broader strategy, potentially aimed at focusing on core operations or improving its financial position.