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I
tem 8--Financial Statements and Supplementary Data
The Company's consolidated financial statements and the predecessor
combined financial statements, and related notes thereto, and the reports of
the Company's and predecessor's independent auditors follow:
RENAISSANCE MEDIA GROUP LLC AND SUBSIDIARIES
INDEX TO FINANCIAL STATEMENTS
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RENAISSANCE MEDIA GROUP LLC ----
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Report of Independent Auditors............................................ 37
Consolidated Balance Sheet as of December 31, 1998........................ 38
Consolidated Statement of Operations for the year ended December 31,
1998..................................................................... 39
Consolidated Statement of Members' Equity for the year ended December 31,
1998..................................................................... 40
Consolidated Statement of Cash Flows for the year ended December 31,
1998..................................................................... 41
Notes to Consolidated Financial Statements................................ 42
RENAISSANCE MEDIA HOLDINGS LLC AND RENAISSANCE MEDIA LLC
Report of Independent Auditors............................................ 50
Combined Balance Sheet as of December 31, 1997............................ 51
Combined Income Statement and Retained Earnings for the Period from
November 5, 1997 (Date of Inception) to December 31, 1997 ............... 52
Combined Statement of Cash Flow for the Period from November 5, 1997 (Date
of Inception) to December 31, 1997....................................... 53
Notes to Financial Statements............................................. 54
PREDECESSOR
Report of Independent Auditors............................................ 57
Combined Balance Sheet as of April 8, 1998................................ 58
Combined Statement of Operations for the Period from January 1, 1998
through April 8, 1998.................................................... 59
Combined Statement of Changes in Net Assets for the Period from January 1,
1998 through April 8, 1998............................................... 60
Combined Statement of Cash Flows for the Period January 1, 1998 to April
8, 1998.................................................................. 61
Notes to Combined Financial Statements.................................... 62
Report of Independent Auditors............................................ 68
Combined Balance Sheets as of December 31, 1996 and 1997.................. 69
Combined Statements of Operations for the Years Ended December 31, 1995,
1996 and 1997............................................................ 70
Combined Statements of Changes in Net Assets for the Years Ended December
31, 1996 and 1997........................................................ 71
Combined Statements of Cash Flows for the Years Ended 1995, 1996 and
1997..................................................................... 72
Notes to Combined Financial Statements.................................... 73
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Note: Financial statements of Renaissance Louisiana, Renaissance Tennessee,
and Renaissance Media Capital (collectively, the "Subsidiaries"), each a
wholly-owned subsidiary of Renaissance Media Group, have not been
presented as (i) Group and the Subsidiaries have no operations or assets
independent of Renaissance Media, a wholly-owned subsidiary of
Renaissance Louisiana and Renaissance Tennessee, (ii) the Subsidiaries
were formed solely for the purpose of serving as co-obligors of the
Senior Discount Notes as Renaissance Tennessee's and Renaissance
Louisiana's only significant assets are their respective equity ownership
interests in Renaissance Media, and Renaissance Capital has no
significant assets and is nominally capitalized, and (iii) as the
Subsidiaries, Group and these wholly-owned subsidiaries are effectively
jointly and severally liable for the obligations under the Senior
Discount Notes on a full and unconditional basis. Accordingly, management
has determined that such financial statements would not be material to
investors.
36
