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|Charter Completes Sale of Various Cable Systems to Cobridge Communications|
ST. LOUIS, Oct 22, 2010 /PRNewswire via COMTEX/ --
"The sale of these systems furthers our continued strategy to strengthen our clusters and enhance operating efficiencies by divesting geographically non-strategic assets," said Charter President and CEO Mike Lovett."Our primary focus is to provide value to our customers and enhance their experience with Charter, and more tightly clustered systems allow us to more effectively achieve this."
The 36 head ends acquired by Cobridge are located in Alabama, Arkansas, Georgia, Louisiana, Missouri, Ohio and Texas. As a result of this sale, Charter no longer operates in Arkansas and Ohio. Charter now serves 25 states. RBC Daniels acted as financial advisor to Charter in the transaction.
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(TM) video entertainment programming, Charter Internet(TM) access, and Charter Phone(TM). Charter Business(R) 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(R) brand. More information about Charter can be found at charter.com.
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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," "preliminary," "tentative", "positioning," 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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SOURCE Charter Communications, Inc.