Charter Communications, Inc. (NASDAQ: CHTR) announced today that Marc B.
Nathanson has resigned from its board of directors effective December 1,
2008.
"With 40 years of cable industry experience, Marc has served as Vice
Chairman and been a valuable member of Charter’s Board for more than
eight years,” said Paul G. Allen, Chairman of the Board and controlling
shareholder of Charter. "We appreciate his many contributions to
Charter, and wish him well in future endeavors.”
"Marc is one of the true industry pioneers. As the founder of Falcon
Cable in 1975, an executive committee member of the National Cable &
Telecommunications Association, and a Vanguard Award recipient, his
in-depth knowledge of the business has proven invaluable to all of us at
Charter,” added Neil Smit, President and Chief Executive Officer.
Resigning to make more time available for other personal and business
interests, Mr. Nathanson said, "My resignation is also the end to a long
chapter of my life (over 40 years) that I have been associated with the
dynamic growth of the cable TV industry. I believe Charter and the other
cable companies have made enormous technological achievements that
benefit the American consumer.”
His position on the Board will not be replaced at this time.
About Charter Communications
Charter Communications, Inc. is a leading broadband communications
company and the third-largest publicly traded cable operator in the
United States. Charter provides a full range of advanced broadband
services, including advanced Charter Digital Cable® video entertainment
programming, Charter High-Speed® Internet access, and Charter
Telephone®. Charter Business™ similarly provides scalable, tailored, and
cost-effective broadband communications solutions to business
organizations, such as business-to-business Internet access, data
networking, video and music entertainment services, and business
telephone. Charter’s advertising sales and production services are sold
under the Charter Media® brand. More information about Charter can be
found at www.charter.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS:
This release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, 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" 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:
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the availability, in general, of funds to meet interest payment
obligations under our debt and to fund our operations and necessary
capital expenditures, either through cash flows from operating
activities, further borrowings or other sources and, in particular,
our ability to fund debt obligations (by dividend, investment or
otherwise) to the applicable obligor of such debt;
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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;
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our ability to repay debt prior to or when it becomes due and/or
successfully access the capital or credit markets to refinance that
debt through new issuances, exchange offers or otherwise, including
restructuring our balance sheet and leverage position, especially
given recent volatility and disruption in the capital and credit
markets;
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the impact of competition from other distributors, including incumbent
telephone companies, direct broadcast satellite operators, wireless
broadband providers, and digital subscriber line ("DSL”) providers;
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difficulties in growing, further introducing, and operating our
telephone services, while adequately meeting customer expectations for
the reliability of voice services;
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our ability to adequately meet demand for installations and customer
service;
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our ability to sustain and grow revenues and cash flows from operating
activities by offering video, high-speed Internet, telephone and other
services, and to maintain and grow our customer base, particularly in
the face of increasingly aggressive competition;
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our ability to obtain programming at reasonable prices or to
adequately raise prices to offset the effects of higher programming
costs;
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general business conditions, economic uncertainty or downturn,
including the recent volatility and disruption in the capital and
credit markets and the significant downturn in the housing sector and
overall economy; and
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the effects of governmental regulation on our business.
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.