Laserfiche WebLink
/ TIME WARNER <br /> <br />February 7, 2000 <br /> <br />Mr. Frank Clifton, Jr., County Mgr. <br />Cabarrus County <br />P O Box 707 <br />Concord, NC 28026 <br /> <br />Dear Mr. Clifton, Jr.: <br /> <br /> As you know, Cabarrus County has granted a franchise to provide cable service to a <br />subsidiary of Time Warner Inc. (TWI), which subsidiary does business as Time Warner Cable. I <br />am writing to inform you of certain developments regarding TWI. <br /> <br /> As you may have read, America Online, Inc. (AOL) and TWI have announced a stock- <br />for-stock merger in which each of TWI and AOL will merge with subsidiaries of a newly formed <br />holding company. As a result of the mergers, both TWI and AOL will become wholly owned <br />subsidiaries of the new holding company, AOL Time Warner Inc (AOL Time Warner). Under <br />the terms of the definitive merger agreement, TWI and AOL stock will be converted to AOL <br />Time Warner stock at fixed exchange ratios. <br /> <br /> As explained above, both AOL and TWI will continue to exist as wholly owned <br />subsidiaries of AOL Time Warner. It also should be noted that Time Warner Cable and indirect <br />subsidiaries and affiliates of TWI and Time Warner Cable, including the current franchisee in <br />your community, will continue to exist as subsidiaries of AOL Time Warner, Inc. While it is <br />unclear that this transaction requires your approval, if you conclude that it does, we would <br />appreciate the consideration and prompt adoption of the accompanying form of resolution. We <br />have enclosed one (1) original (and two (2) copies) of FCC Form 394 which provides you with <br />the information required by the FCC rules and commences the review period provided for <br />thereunder. <br /> <br /> I would like to take this opportunity to assure you that the merger of AOL and TWI will <br />have absolutely no adverse impact upon our franchise ~vith your community or the service that <br />~ve provide. <br /> <br />· The franchise will continue to be held by the same entity. There will be n__qo transfer of the <br /> franchise. <br /> <br />· Time Warner Cable wilt continue to be solely and exclusively responsible for the day-to-day <br /> management and operation of the cable television system. <br /> <br /> <br />