Jeffrey A. Marcus Resigns From Charter Communications Board
Search for Replacement to Begin
STAMFORD, Conn., Nov. 11, 2013 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) today announced that Jeffrey A. Marcus, a partner at Crestview Partners, has resigned from the Board of Directors of Charter. Mr. Marcus joined Charter's Board in May, 2012. With the departure of Mr. Marcus, the Charter Board of Directors currently has one vacancy on its 11 member Board. A search for his replacement will begin immediately.
"My ongoing commitments to Crestview Partners require that I resign from the Board at Charter, but I do so knowing that there is a tremendous management team in place with a clear focus on continuing the transformation that is well under way at Charter," said Mr. Marcus. "I have been a believer in Charter Communications for quite some time. I leave the board in very capable hands and know that the Company has a clear vision for its future and is on track for continued success," he added.
Charter President and CEO Tom Rutledge said, "Jeff has been a tremendous asset to the Company over the past eighteen months, and we are sorry that his commitment to Crestview Partners will no longer allow him to continue in his current capacity. I'd like to thank Jeff on behalf of the Board and the Company and wish him continued success at Crestview."
About Charter Charter (NASDAQ: CHTR) is a leading broadband communications company and the fourth-largest cable operator in the United States. Charter provides a full range of advanced broadband services, including advanced Charter TV® video entertainment programming, Charter Internet® access, and Charter Phone®. Charter Business® similarly provides scalable, tailored, and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul. Charter's advertising sales and production services are sold under the Charter Media® brand. More information about Charter can be found at charter.com.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), regarding, among other things, our plans, strategies and prospects, both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under "Risk Factors" from time to time in our filings with the Securities and Exchange Commission ("SEC"). Many of the forward-looking statements contained in this release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," "aim," "on track," "target," "opportunity," "tentative," "positioning," "designed," "create" and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this release are set forth in other reports or documents that we file from time to time with the SEC, and include, but are not limited to:
our ability to sustain and grow revenues and cash flow from operations by offering video, Internet, telephone, advertising and other services to residential and commercial customers, to adequately meet the customer experience demands in our markets and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition, the need for innovation and the related capital expenditures and the difficult economic conditions in the United States;
the impact of competition from other market participants, including but not limited to incumbent telephone companies, direct broadcast satellite operators, wireless broadband and telephone providers, digital subscriber line ("DSL") providers, and video provided over the Internet;
general business conditions, economic uncertainty or downturn, high unemployment levels and the level of activity in the housing sector;
our ability to obtain programming at reasonable prices or to raise prices to offset, in whole or in part, the effects of higher programming costs (including retransmission consents);
the development and deployment of new products and technologies;
the effects of governmental regulation on our business;
the availability and access, in general, of funds to meet our debt obligations prior to or when they become due and to fund our operations and necessary capital expenditures, either through (i) cash on hand, (ii) free cash flow, or (iii) access to the capital or credit markets; and
our ability to comply with all covenants in our indentures and credit facilities any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions.
All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. We are under no duty or obligation to update any of the forward-looking statements after the date of this release.
SOURCE Charter Communications, Inc.
Media, Justin Venech, 203-905-7818, or Analysts, Stefan Anninger, 203-905-7955