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f <br /> 4 <br /> SUMMARY <br /> County's franchise documents prohibit the transfer of control, in various ways without the <br /> prior approval of the franchise authority. The proposed transaction will not result in the <br /> assignment of the franchise to a new entity, but the ownership [stock] and control <br /> [management] of Alert Cable of North Carolina's to the Time Warner Incorporated shall be <br /> altered. Therefore, it is imperative that the County seek certain assurances from the new <br /> operator that there will be no adverse impact upon current and future subscribers, the cable <br /> distribution system, company business practices, customer service policies and that line <br /> extension concerns are adequately addressed by the new operator. <br /> The franchise and FCC-394 documents direct the Company furnish the franchise authority with <br /> full identifying particulars of the proposed transaction. Also, by supplying copies of all <br /> documents pertaining to the transfer, the Company is compliant with the terms of the <br /> franchise. The material change in the ownership and management structures of Alert Cable <br /> require that the franchise authority approve the new business arrangement; the transfer of <br /> ownership. <br /> To evaluate the proposed sale of CVI and acquisition by TWI, the consultants considered: <br /> 1. information gathered during meetings with Cablevision Industries' <br /> representatives; <br /> 2. information learned from discussions with attorney's for the Federal Trade <br /> Commission [US Department of Justice] regarding the effect of the transaction <br /> upon local competition; <br /> 3. the purchase agreement between the parties; <br /> 4. whether Time Warner presented statements affirming that they shall be bound <br /> by the terms and conditions in the present franchise agreement; <br /> 5. the completed FCC-394 Application For Franchise Authority Consent To <br /> Assignment or Transfer of Control of Cable Television Franchise; and, <br /> 6. outstanding issues the franchise authority seeks to resolve as a consequence of <br /> the ownership transfer. <br /> 7. the findings and recommendations of the County's Cable Advisory Committee. <br />