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|CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 425 on 01/19/2016|
Filed by Charter Communications, Inc.
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-6
under the Securities Act of 1934
Subject Company: Time Warner Cable Inc.
Commission File No. 001-33335
Charter and Multicultural Leadership Organizations Reach Significant Agreement on Diversity and Inclusion Efforts
January 15, 2016
STAMFORD, Conn., Jan. 15, 2016 /PRNewswire/ -- Charter Communications and leaders of leading national civic organizations serving communities of color announced a memorandum of understanding (MOU) that will take effect upon the closing of Charter's pending merger with Time Warner Cable and acquisition of Bright House Networks. New Charter is committed to continuing the diversity and inclusion practices developed by the three companies and will build upon existing diversity efforts in the specific areas of corporate governance, employment and workforce recruitment, procurement, programming, and philanthropy and community investment.
"We are very pleased to have reached this important memorandum of understanding, which reflects our commitment to the fundamental values of diversity and inclusion," said Tom Rutledge, president and chief executive officer of Charter. "Charter strives to reflect the great diversity of the communities we serve in all our business practices as a key component of our continued success."
The MOU identifies specific diversity initiatives and establishes a plan of action to guide the collaborative efforts of New Charter and a wide array of diverse civic and leadership organizations. As part of the MOU, Charter has committed to a number of concrete actions, including appointing one African American, one Asian American/Pacific Islander and one Latino American to its newly formed board of directors within two years of the close of the transaction. New Charter will also appoint a Chief Diversity Officer who will lead the company's diversity and inclusion efforts. The MOU also includes a number of specific steps New Charter will take to increase diversity among its workforce, improve diversity in the procurement of goods and services, expand programming targeting diverse audiences, and enhance its involvement and investment in organizations serving communities of color.
The following twelve multicultural leadership organizations have agreed to sign the MOU: National Urban League, National Action Network, National Council of La Raza, League of United Latin American Citizens, National Hispanic Foundation for the Arts, SER-National, Hispanic Federation, Asian Americans Advancing Justice I AAJC, OCA-Asian Pacific American Advocates, Media Action Network for Asian Americans, East West Players, and the Asian Pacific American Institute for Congressional Studies.
Support for Charter's Memorandum of Understanding:
National Urban League President and CEO Marc Morial, who led the multicultural organizations that worked with Charter to fashion the MOU, made the following statement: "The Charter MOU contains the 'best of the best' practices for diversity and inclusion. Substantively it addresses every one of the key elements of equal service to all communities: governance, employment, procurement, programming, and community engagement. Since the effectuation of the MOU is contingent upon the closing of Charter's