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SEC Filings

8-K
RENAISSANCE MEDIA GROUP LLC filed this Form 8-K on 10/08/1998
Entire Document
 

                                                                   EXHIBIT 99.1

Renaissance Media Group LLC, Renaissance
Media (Louisiana) LLC, Renaissance Media
(Tennessee) LLC, Renaissance Media Capital
Corporation

Announce Consummation of Exchange Offer

FERNDALE,  N.Y.,  Oct. 7 /PRNewswire/  --  Renaissance  Media  (Louisiana)  LLC,
("Renaissance  Louisiana''),  Renaissance Media  (Tennessee) LLC,  ("Renaissance
Tennessee'') and Renaissance Media Capital Corporation,  ("Renaissance Capital''
and  together  with   Renaissance   Louisiana  and  Renaissance   Tennessee  the
"Issuers''),  and Renaissance Media Group, LLC, announce the consummation of the
Issuers'  exchange offer for the Issuers'  outstanding 10% Senior Discount Notes
due 2008.

Pursuant to the  exchange  offer,  $163,150,000  aggregate  principal  amount at
maturity of the Issuers' 10% Senior  Discount  Notes due 2008 (the "Old Notes'')
were tendered  prior to the  expiration of the exchange  offer and exchanged for
the same  aggregate  principal  amount at  maturity of the  Issuers'  10% Senior
Discount Notes due 2008, that have been  registered  under the Securities Act of
1933, as amended (the "Securities Act'') (the "Exchange Notes'').  The Old Notes
were  originally  issued and sold on April 9, 1998 in a transaction  exempt from
registration under the Securities Act.

The  Exchange
  Notes issued in the exchange  offer have  substantially  the same
terms and  conditions as the Old Notes,  except that the Exchange  Notes are not
subject  to the  restrictions  on  resale  or  transfer,  which  applied  to the
unregistered Old Notes.

Renaissance  Media Group, LLC and its  subsidiaries,  including the Issuers (the
"Company''),  were formed in 1998 and own medium sized cable television  systems
clustered in southern Louisiana,  western Mississippi and western Tennessee and,
as of June 30, 1998, passed 180,561 homes and served 126,985 subscribers.  Based
on these numbers of  subscribers,  and at June 30, 1998,  the Company is the 4th
largest cable television  system operator in Louisiana and the 5th largest cable
television system operator in Tennessee.

SOURCE: Renaissance Media Group LLC