Print Page  Close Window

SEC Filings

RENAISSANCE MEDIA GROUP LLC filed this Form S-4/A on 09/04/1998
Entire Document
                              [ALTERNATE PAGE 8]

or cash flow. There is substantial competition for attractive acquisition
candidates. There can be no assurances that the Company will be able to
acquire suitable acquisition candidates on favorable terms or that it will be
able to integrate successfully any acquired business with its existing
operations or realize any efficiencies therefrom. There can also be no
assurances that any such acquisition, if consummated, will perform as
expected. In connection with such acquisitions, the Company may have to
upgrade a significant portion of the cable television systems it acquires to,
among other things, increase bandwidth and channel capacity. The Company's
inability to upgrade these systems could have a material adverse effect on its
operations and competitive position. See "Management's Discussion and Analysis
of Financial Condition and Results of Operations--Liquidity and Capital
Resources" and "Business."
  The Company will be required to seek additional financing to fund
acquisitions of additional cable television systems and any capital
expenditures required to upgrade such systems. There can be no assurance that
such financing will be available on terms acceptable to the Company or at all.
Sources of additional financing may include commercial bank borrowings, vendor
financing or the private or public sale of equity or debt securities.
  The Company's future performance will depend, in part, upon its ability to
successfully implement its acquisition strategy, evaluate markets, secure
financing, effect transfers of pole attachment agreements and obtain any
required governmental authorizations, all in a timely manner, at reasonable
costs and on satisfactory terms and conditions. Rapid growth may place a
significant strain on the Company's management. The Company's success will
also depend in part upon its ability to hire and retain qualified sales,
marketing, administrative, operating and technical personnel. There can be no
assurance that the Company will be able to recruit, train, manage and retain
sufficient qualified personnel. In addition, as the Company increases its
service offerings and expands its targeted markets, there will be additional
demands on customer support, sales and marketing, administrative resources and
network infrastructure. The Company's inability to effectively manage its
growth could have a material adverse effect on the Company's business, results
of operations and financial condition.
  The cable television business is characterized by rapid technological change
and the introduction of new products and services. There can be no assurance
that the Company will be able to fund the capital expenditures necessary to
keep pace with technological developments or that the Company will
successfully anticipate the demand of its subscribers for products or services
requiring new technology. The Company's inability to provide enhanced services
in a timely manner or to anticipate the demands of the marketplace could have
a material adverse effect on the Company's business, results of operations and
financial condition. See "Business--Competition."
  In addition, the Company's introduction of new technologies or services is
subject to uncertainties regarding subscriber demand, future competition,
appropriate pricing, and the costs and timing with respect to marketing and
sales efforts. There can be no assurances as to the effect of such
technological changes on the Company's business, results of operations and
financial condition or that the Company will not be required to expend
substantial financial resources to implement new technologies, that capital
expenditures for new technologies or services will approximate Management's
expectations, or that sufficient demand exists to recoup such expenditures.
  The Company is managed by a small number of key executive officers,
including the Management Investors. The loss of services of one or more of
these key individuals could materially and adversely affect the business of
the Company and its prospects. The Company believes that its success will
depend in large part on its ability to attract and retain highly skilled and
qualified personnel. All of the Management Investors have employment and
related agreements upon consummation of the Transactions. Pursuant to these
agreements, the Management Investors may own or manage other cable television
systems after 2001. The competing claims upon the Management Investors' time
and energies could divert their attention from the affairs of the Company. The
Company does not maintain key person life insurance for any of its executive