HomeMy WebLinkAboutCC Reso No 2005-074
RESOLUTION NO. 74
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A RESOLUTION PROVIDING APPROVAL FOR A TRANSACTION INVOLVING
COMCAST CORPORATION AND TIME WARNER CABLE INC.
WHEREAS, the City of Lake Elsinore, California ("Franchising Authority") has granted a
cable television Franchise to an entity (the "Franchisee") presently controlled by Comcast Corporation
("Comcast"); and
WHEREAS, pursuant to an Exchange Agreement between Time Warner Cable Inc. (''Time
Warner Cable"), Comcast and certain related entities, Comcast will cause the Franchisee to assign the
cable system and franchise to C- Native Exchange I, LLC (''New Franchisee"), which will become an
indirect subsidiary of Time Warner Cable (the "Transaction"); and
WHEREAS, upon closing of the Transaction, the New Franchisee expressly agrees to assume
the obligations under the Franchise; and
WHEREAS, Comcast and Time Warner Cable have ftled an FCC Form 394 providing details
regarding the Transaction and establishing the qualifications of the New Franchisee; and
WHEREAS, the Franchising Authority wishes to grant its approval for the Transaction as
described above.
NOW, THEREFORE, BE IT RESOLVED BY FRANCmSING AUTHORITY:
Section 1.
The Franchising Authority hereby approves the Transaction.
Section 2.
Upon the closing of the Transaction, the New Franchisee shall assume
the obligations under the Franchise.
Section 3.
This Resolution shall become effective immediately upon passage by the
Franchising Authority.
PASSED, APPROVED AND ADOPTED this 26th day of July, 2005.
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Ayes:
COUNCILMEMBERS: BUCKLEY, HICKMAN, KELLEY,
SCHIFFNER, MAGEE
Noes:
COUNCILMEMBERS: NONE
Absent:
COUNCILMEMBERS: NONE
Abstain:
COUNCILMEMBERS: NONE
ATTEST:
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