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SEC Filings

S-1
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1 on 07/28/1999
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scope and the ability to reinforce our clustering strategy, either directly or
through future swaps or acquisitions. Other specific factors we consider in
acquiring a cable system are:
 
     - demographic profile of the market as well as the number of homes passed
       and customers within the system;
 
     - per customer revenues and operating cash flow and opportunities to
       increase these financial benchmarks;
 
     - proximity to our existing cable systems or the potential for developing
       new clusters of systems;
 
     - the technological state of such system; and
 
     - the level of competition within the local market.
 
     We believe that there are significant advantages in increasing the size and
scope of our operations, including:
 
     - improved economies of scale in management, marketing, customer service,
       billing and other administrative functions;
 
     - reduced costs for plant and infrastructure;
 
     - increased leverage for negotiating programming contracts; and
 
     - increased influence on the evolution of important new technologies
       affecting our business.
 
     See "Description of Certain Indebtedness" for a description of the material
debt that we have assumed or intend to assume in connection with our recent and
pending acquisitions.
 
RECENTLY COMPLETED ACQUISITIONS
 
     AMERICAN CABLE. In April 1999, we purchased American Cable Entertainment,
LLC for approximately $240 million. American Cable owns cable systems located in
California serving approximately 68,000 customers and is being operated as part
of our Western region. For the three months ended March 31, 1999, American Cable
had revenues of approximately $9.2 million, EBITDA of approximately $4.2 million
and cash flows from operating activities of approximately $2.7 million. For the
year ended December 31, 1998, American Cable had revenues of approximately $15.7
million, EBITDA of approximately $7.8 million and cash flows from operating
activities of approximately $4.7 million. At year-end 1998, none of the American
Cable system's customers were served by systems with at least 550 megahertz
bandwidth capacity or greater.
 
     RENAISSANCE. In April 1999, we purchased Renaissance Media Group LLC for
approximately $459 million, consisting of $348 million in cash and $111 million
of publicly held debt to be assumed. As a result of a Change of Control, we
recently completed a tender offer for this publicly held debt. Holders of the
notes tendered 30% of the outstanding principal amount of these notes.
Renaissance owns cable systems located in Louisiana, Mississippi and Tennessee,
has approximately 132,000 customers and is being operated as part of our
Southern region. For the three months ended March 31, 1999, Renaissance had
revenues of approximately $15.3 million, EBITDA of approximately $8.4 million
and cash flows from operating activities of approximately $5.4 million. For the
year ended December 31, 1998, Renaissance had revenues of approximately $41.5
million, EBITDA of approximately $20.5 million and cash flows from operating
activities of approximately $22.7 million. As of March 31, 1999, there was
$110.5 million total principal outstanding under the Renaissance notes. At
year-end 1998, approximately 36% of Renaissance's customers were served by
systems with at least 550 megahertz bandwidth capacity.
 
     GREATER MEDIA SYSTEMS. In June 1999, we purchased certain cable systems of
Greater Media Cablevision Inc. for approximately $500 million. The Greater Media
systems are located in
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