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SEC Filings

8-K
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 05/26/2015
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Sources of Transactions Consideration
Sources and Uses – At $100 per Share in Cash and 0.5409 Equivalent Charter Shares1)
Sources $B
New Debt – TWC Transaction 23.0
Assumed TWC Debt 23.3
Liberty Investment in TWC Rolled 1.5
TWC Transaction Liberty Equity Investment at $176.95 4.3
New Charter Equity to TWC Shareholders 27.0
Cash on Balance Sheet2) 1.9
Total Sources – TWC Transaction 80.9
New Debt – Bright House Transaction 2.0
Bright House Transaction Preferred Units 2.5
Charter Common 5.9
Liberty Equity Investment at $173.00 0.7
Total Sources – Bright House Transaction 11.1
Total Sources 92.1
Uses $B
TWC Equity Value 56.7
Existing TWC Debt 23.3
Fees and Expenses 1.0
Total Uses – TWC Transaction 80.9
Bright House Enterprise Value 10.4
Excess Cash 0.7
Total Uses – BHN Transaction 11.1
Total Uses 92.1
Commitment from two of cable industry’s most successful long term investors – Liberty investing addditional $5.0 billion to own 19%1) of New Charter and Advance/Newhouse will own 13% of New Charter
1) Liberty and LIC holding TWC shares have agreed to only take New Charter stock as consideration. $4.3 billion to be invested at equivalent of $176.95 per share and represents Charter’s closing price on May 20, 2015. $700 million to be invested at equivalent of $173.00, as previously announced on March 31, 2015 as part of the Charter-A/N transaction.
2) Estimated cash on balance sheet from Charter and TWC.
18 Charter COMMUNICATIONS Time Warner Cable® bright house NETWORKS®