Press release from PR Newswire
Charter and James Cable to Trade Cable Systems in Alabama and Georgia Serving 15,000 Customers
Tuesday, July 05, 2011
ST. LOUIS, July 5, 2011 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) and James Cable, LLC today announced that they have agreed to a trade of systems located in Georgia and Alabama.
Under the agreement, Charter will trade its Douglas, Georgia system, which serves a total of approximately 5,500 customers, to James Cable in an even exchange for James operations surrounding Eatonton, Georgia and Roanoke and Gu-Win, Alabama, with approximately 9,500 customers.
The trade is subject to customary closing and regulatory approvals and is expected to close in the fourth quarter of 2011.
"Consistent with Charter's strategy, we continue to enhance our already well-clustered operations in key states like Georgia and Alabama," said Charter President, Operations, and Steven Apodaca. "We appreciated the time we have served Douglas and know that these customers will be in good hands. Charter looks forward to building on the products and services James Cable offers in the new communities we will serve." The exchange enables both companies to better deliver services to communities located geographically close to current operations.
Upon closing of this and certain other pending transactions, these customers will join the more than half-million customers Charter currently serves in Georgia and Alabama.
"The Douglas system is a great fit with our existing operations in Georgia," said James Cable CEO Kate Adams. "The Charter team has built an impressive operation in Douglas and we look forward to building on their success."
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® video entertainment programming, Charter Internet® access, and Charter Phone®. Charter Business® 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® brand. More information about Charter can be found at charter.com.
About James Cable
James Cable delivers affordable choices in high-speed Internet, traditional cable and advanced digital television, and local and long-distance telephone services to residential and business customers in rural communities across nine states, mostly in the southeastern US. James Cable, which operates under the trade name CommuniComm in many of its local markets, passes more than 133,000 homes. For more information about James Cable, please visit www.jamescable.com
SOURCE Charter Communications, Inc.
For further information: Media, Anita Lamont, +1-314-543-2215, or Analysts, Robin Gutzler, +1-314-543-2398