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SUMMARY <br /> The franchise documents prohibit the transfer of control, in various ways without the prior <br /> approval of the franchise authority. The proposed transaction will not result in the assignment <br /> of the franchise to a new entity. The transfer will alter the ownership [stock] and control <br /> [management] of Alert Cable of North Carolina's. Time Warner will be Alert's new owner <br /> and will become responsible for the day-to-day management. <br /> Therefore, it is imperative that the franchise authority secure 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 to furnish the franchise authority <br /> with full identifying particulars of the proposed transaction. Also, by supplying copies of all <br /> documents pertaining to the transfer, the Company is in compliance with transfer of ownership <br /> terms of the franchise. The material change in the ownership and management structures of <br /> Alert Cable require that the franchise authority approve the new business arrangement: the <br /> transfer of 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 from discussions with attorney's for the Federal Trade Commission <br /> and US Department of Justice regarding the effect of the transaction upon local <br /> competition; <br /> 3. the purchase agreement between the parties; <br /> 4. whether TWI agreed to be bound by the terms and conditions in the franchise <br /> agreement; <br /> 5. the completed FCC-394 Application For Franchise Authority Consent To <br /> Assignment or Transfer of Control of Cable Television Franchise; <br /> 6. outstanding issues the franchise authority seeks to resolve as a consequence of <br /> the ownership transfer; and, <br /> 7. the findings and recommendations of the Administrative staff. <br /> 2 <br />