8-KOther EventsExhibits & Filings

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Corporate Update (Oct 7, 2016)

Filed October 7, 2016For Securities:CHTR

Summary

This Form 8-K filing from Charter Communications, Inc. (CHTR) on October 7, 2016, primarily serves to provide investors with unaudited pro forma financial information. This information gives a comprehensive view of the company's financial position and performance as if the previously completed acquisitions of Time Warner Cable (TWC) and Bright House Networks had occurred at an earlier, specified point in time. The filing details the completion of these significant transactions earlier in 2016, which created a substantially larger entity under the Charter Communications name. The pro forma statements are crucial for investors to understand the combined company's financial health, revenue potential, and operational scale post-merger. They reflect the combined assets, liabilities, and results of operations, offering a more accurate picture than historical standalone financials. Investors should review these pro forma statements to gauge the immediate financial impact and potential synergies expected from these transformative deals.

Key Highlights

  • 1Charter Communications (CHTR) filed an 8-K on October 7, 2016, to provide pro forma financial information.
  • 2The pro forma statements reflect the impact of the completed Time Warner Cable (TWC) and Bright House Networks acquisitions.
  • 3These transactions were completed on May 18, 2016.
  • 4The filing includes unaudited pro forma consolidated financial statements for the six months ended June 30, 2016, and the year ended December 31, 2015.
  • 5The pro forma information gives effect to the TWC and Bright House transactions as if they had occurred earlier, aiding investor analysis.
  • 6Liberty Broadband participated in financing the transactions through share purchases, totaling $4.3 billion for the TWC merger and $700 million for the Bright House acquisition.
  • 7The filing makes available the pro forma financial statements as Exhibit 99.1.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide investors with unaudited pro forma financial information. This information presents the company's financial position and results of operations as if the significant acquisitions of Time Warner Cable and Bright House Networks had been completed at an earlier date, allowing for a more comprehensive understanding of the combined entity's financial picture.

The transactions contemplated by the merger agreement with Time Warner Cable (TWC) and the contribution agreement with Advance/Newhouse Partnership (for Bright House Networks) were both completed on May 18, 2016.

Pro forma financial statements are important because they show how the company would have performed if the recent major acquisitions had occurred at an earlier point in time. This helps investors assess the financial impact and potential synergies of the combined company more accurately, rather than relying solely on historical standalone financial statements.

Yes, Liberty Broadband completed transactions with Legacy Charter in connection with both the TWC and Bright House acquisitions. They purchased approximately 22.0 million shares of Charter Class A common stock valued at $4.3 billion for the TWC merger and approximately 3.7 million shares valued at $700 million for the Bright House acquisition, partially financing these deals.