Agenda - 10-07-2008 - 4k - Laserfiche WebLink

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~~~ TIME WARNER CABLE June 12, 2008 Ms. Laura Blackmon County Manager Orange County P.O. Box 8181 200 South Cameron Street Hillsborough, NC 27278 Dear Ms. Blackmon: As you may know, Time Warner Cable Inc. ("Time Warner Cable") is the managing parent of the Franchisee providing cable television service in your community. Time Warner Cable is apublicly-traded corporation, with approximately 84% of its common stock currently indirectly held by Time Warner Inc. ("TWX"), itself apublicly-traded corporation, with the remainder widely held by public shareholders. On May 21, 2008, TWX and Time Warner Cable announced a plan to effect a complete separation of Time Warner Cable from TWX (the "Spin-Off'). The end result of the Spin-Off will be the divestiture by TWX of its entire ownership in Time Warner Cable either through (i) an exchange offer whereby TWX stockholders may exchange some or all of their shares of TWX common stock for shares of Time Warner Cable common stock or (ii) a dividend by TWX to its stockholders of the shares of Time Warner Cable common stock held by TWX, or some combination of these mechanisms. Upon completion of the Spin-Ofd', which we hope to occur before the end of this year, 100% of the common stock of Time Warner Cable will be publicly traded. The Spin-Off will not affect the ownership interests held by Time Warner Cable in the Franchisee or any of its other direct or indirect subsidiaries or affiliates, and Time Warner Cable will retain management authority over the Franchisee in your community. The Spin-Off will not result in the assignment or transfer of any of the Franchisee's assets, including the franchise. Moreover, ultimate control of Time Warner Cable will rest with the same public shareholders both immediately before and after completion of the Spin-Off. Based on all of the circumstances, we do not believe that the Spin-Off requires your approval. Nevertheless, if you would like to grant approval, we would appreciate the consideration and prompt adoption of the accompanying Resolution. We are also enclosing the required number of copies of FCC Form 394, which contains the information regarding the Spin- Offand Time Warner Cable, along with contact information if you should have additional questions.