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S-4/A
RENAISSANCE MEDIA GROUP LLC filed this Form S-4/A on 08/06/1998
Entire Document
 
<PAGE>
 
                          RENAISSANCE MEDIA GROUP LLC
 
            NOTES TO UNAUDITED PRO FORMA CONSOLIDATED BALANCE SHEET
                                MARCH 31, 1998
                                (IN THOUSANDS)
 
  The unaudited pro forma combined balance sheet gives effect to the following
pro forma adjustments. The approximate sources and uses of funds for the
Transactions (excluding the issuance of equity to Time Warner) are as follows:
 

<TABLE>
   <S>                                                                 <C>
   SOURCES OF FUNDS
     Gross proceeds of the Notes...................................... $100,012
     Borrowings under the Term Loans..................................  110,000
     Cash Equity Contributions........................................   99,000
     Working Capital Adjustments......................................    1,000
                                                                       --------
       Total cash sources............................................. $310,012
                                                                       ========
   USE OF FUNDS
     Cash purchase price for the Systems.............................. $300,000
     Estimated transaction fees.......................................   10,012
                                                                       --------
       Total cash uses................................................ $310,012
                                                                       ========
</TABLE>

     
  (1) Pursuant to the Asset Purchase Agreement, the Company was required to
      assume certain working capital items, including accounts receivable,
      prepaid expenses and certain accrued liabilities. The net effect of
      these working capital items as of the closing date was a net liability
      of $1,000, which would have resulted in a cash payment from Time Warner
      of $1,000, computed as follows:     
 

<TABLE>   
<CAPTION>
                                          WORKING    ADJUSTED
                              SYSTEMS     CAPITAL    SYSTEMS
                             HISTORICAL ADJUSTMENTS HISTORICAL
                             ---------- ----------- ----------
   <S>                       <C>        <C>         <C>
   Receivables, net........    $1,502      $(926)     $  576
   Prepaid expenses and
    other assets...........       327        125         452
                                                      ------
     Total adjusted current assets................     1,028
                                                      ------
   Accrued franchise fees..       564         52         616
   Subscriber advance
    payments and deposits..       458        135         593
   Other liabilities.......     1,108       (289)        819
                                                      ------
     Total adjusted current liabilities...........     2,028
                                                      ------
     Cash adjustment of net liability.............    $1,000
                                                      ======
</TABLE>
    
          
  (2) Pursuant to the Asset Purchase Agreement, no assets or liabilities
      other than those reflected in footnote (1) above will be assumed by
      Renaissance Media. Pursuant to the Asset Purchase Agreement,
      Renaissance Media is indemnified for non-assumed liabilities.     
 
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