File Ref. #172
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OFFICE of City Manager
To:
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o Note and return with comments or recommendations
o Prepare a reply for my signature
o Referred to you for action
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Date
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Lawrence A. Levy
City Manager
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COM M U N I CATION S.
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99 DEe 2 I PI-H2: 40
December 14, 1999
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Mr. Sergio Rodriguez
City Manager
City of Miami Beach
1700 Convention Center Drive
Miami Beach, FL 33 139
Dear Mr. Rodriguez:
You may have heard that Paul G. Allen, who owns and controls Charter
Communications, Inc. (Charter), recently offered non-controlling stock in Charter to the public.
Because your community holds a cable franchise within Charter, I am writing to confirm that
there has been no change in the 100% ownership of Charter by companies wholly controlled by
Mr. Allen. Mr. Allen continues to control the parent company of your local franchisee, Charter
Communications, Inc., even after the sale of such stock.
On November 8, 1999, at Mr. Allen's direction, Charter began selling shares to the
public, in the process known as an initial public offering (IPO). After the IPO, Mr. Allen
continues to control Charter (including more than 90% voting interest) and to elect all of the
members of Charter's Board of Directors. The IPO provided a mechanism for obtaining in
excess of $3 billion investment without sacrificing Mr. Allen's ultimate control. The IPO has not
changed the identity of your local franchisee or the composition of your local management team.
As a result, the offering of stock should have no affect on our local customers or the local
franchise.
If you have any questions, please let me know.
Sincerely,
Trudi McCollum Foushee
Vice President and Senior Counsel
TMF Iph
j :\ipo\PostIPOltr 12\ 099,doc
12444 Powerscourt Drive' SUite 100 . St. Louis, M,ssourr . 631313660
www.chartercom.com' tel: 314,965JJ555 . fax: 314.965.6640