NUMB:
991745
VERS:
SUBSTITUTE 1
XXBY:
THE CHAIR
TITL:
Substitute resolution relating to the transfer of ownership and control of Time Warner Cable of Southeastern Wisconsin LP to AOL Time Warner.
ANLS: ___________________________________________________________
- Analysis - This substitute resolution approves a transfer of the ultimate ownership and control of Time Warner Cable of Southeastern Wisconsin LP (the "Franchisee") from Time Warner, Inc., to AOL Time Warner, subject to the execution of a Change of Control Agreement before June 30, 2000. Under the Change of Control Agreement, the Franchisee acknowledges and agrees that it will continue to be bound by all of its commitments, duties and obligations under the January 1, 2000 franchise agreement and the provisions of Chapter 99, Milwaukee Code of Ordinances. The substitute resolution authorizes the execution of the Changes of Control Agreement. If the Franchisee does not execute the Change of Control Agreement, the substitute resolution denies the transfer of ownership and control.
BODY:
Whereas, Time Warner Cable of Southeastern Wisconsin, LP (the "Franchisee") is the holder of a franchise (the "Franchise") to provide cable television service in the city of Milwaukee (the "City") pursuant to a franchise agreement between the City and the Franchisee, effective January 1, 2000 (together with any amendments, the "Franchise Agreement") and the provisions of Chapter 99, Milwaukee Code of Ordinances (the "Cable Ordinance"). The Franchise Agreement and the Cable Ordinance are collectively referred to as the "Franchise Documents"; and
Whereas, Time Warner, Inc. ("Time Warner"), the ultimate parent of the Franchisee, submitted to the City its application on Federal Communications Commission ("FCC") Form 394, dated February 29, 2000 (the "Application"), requesting that the City approve, if it concludes that a change of ownership and control of the Franchisee from Time Warner to AOL-Ti...
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