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SEC Filings

S-4/A
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4/A on 06/22/1999
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with regulatory authorities. Mergers, joint ventures and alliances among cable
television operators, regional telephone companies, long distance telephone
service providers, competitive local exchange carriers, providers of cellular
and other wireless communications services and others may result in providers
capable of offering cable television and other telecommunications services in
direct competition with us. Additionally, the Federal Communications Commission
and the U.S. Congress are considering proposals to enhance the ability of direct
broadcast satellite providers to gain access to additional programming, and to
authorize them to transmit local broadcast signals to local markets on a broader
basis than permitted under current law. If they gain permission and are able to
deliver local or regional broadcast signals more broadly, cable system operators
will lose a competitive advantage over direct broadcast satellite providers.
    
 
     We also face competition within the subscription television industry from
non-cable technologies for distributing television broadcast signals. Current
and potential competitors include:
 
   
     - direct broadcast satellite providers, which transmit signals via
       satellite;
    
 
   
     - multichannel multipoint distribution systems, or wireless cable, which
       distributes cable television signals through microwave signals; and
    
 
   
     - operators of satellite master antenna television systems, a distribution
       system that feeds satellite signals, usually to multiple dwelling units
       such as hotels and apartments.
    
 
   
     Electric utilities also have the potential to become significant
competitors in the video marketplace, as many of them already possess fiber
optic transmission lines, which are capable of transmitting signals over long
distances with minimum signal loss or distortion, in certain of the areas they
serve. We also face competition from other communications and entertainment
media, including conventional off-air television and radio broadcasting
services, newspapers, movie theaters, the Internet, live sports events and home
video products.
    
 
   
     We hope that upgrading our cable systems will give us an advantage over our
competitors, although we cannot assure you that such upgrades will allow us to
compete effectively. Additionally, as we expand and introduce new and enhanced
services, including additional telecommunications services, we will be subject
to competition from other telecommunications providers. Advances in
communications technology and changes in the marketplace and the regulatory and
legislative environment are constantly occurring. We cannot predict the specific
effect ongoing or future developments might have on us or the general effect
these developments might have on the cable television industry. We also cannot
predict the extent to which this competition may affect our business and
operations in the future.
    
 
   
WE OPERATE OUR CABLE SYSTEMS UNDER FRANCHISES WHICH ARE NON-EXCLUSIVE. LOCAL
FRANCHISING AUTHORITIES CAN GRANT ADDITIONAL FRANCHISES AND CREATE COMPETITION
IN MARKET AREAS WHERE NONE EXISTED PREVIOUSLY.
    
 
   
     Our cable systems are operated under franchises granted by local
franchising authorities. These franchises are non-exclusive. Consequently, such
local franchising authorities can grant additional franchises to competitors in
the same geographic area. As a result, competing operators may build systems in
areas in which we hold franchises. The existence of more than one cable system
operating in the same territory is referred to as an overbuild. Overbuilds can
affect our ability to compete. We are currently aware of
    
 
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