HomeMy WebLinkAboutResolution-1992-1316
RESOLUTION NO.
1316
SERIES OF 1992
TITLE:
RESOLUTION AUTHORIZING TRANSFER OF THE FRANCHISE AND THE
CABLE TELEVISION SYSTEM OPERATING PURSUANT TO THE
FRANCHISE FROM THE FRANCHISEE TO TWE
WHEREAS, American Cablevision (the "Franchisee") is the
holder of a cable television franchise (the "Franchise") for the
City of Wheat Ridge; and
WHEREAS, the Franchisee is a subsidiary or division of
American Television and Communications Corporation ("ATC"); and
WHEREAS, ATC is a maj ori ty owned subsidiary of Time
Warner, Inc. ("Time Warner"), a widely held New York Stock
Exchange company which intends to create a new limited
partnership entity comprised of the business and assets of its
filmed entertainment, programming and cable divisions, which
entity shall be known as Time Warner Entertainment Company, L.P.
("TWE" ); and
WHEREAS, Time Warner will retain majority ownership as
well as operating and management control of TWE and will operate
TWE as a controlled subsidiary of Time Warner employing the
assets of ATC including the Franchise and the Franchisee, and the
assets of Warner Cable, Lorimar Telepictures, HBO, and Warner
Bros.; and
WHEREAS, Time Warner intends to offer minority limited
partnership interests in TWE to strategic partners in TWE,
including Toshiba Corporation and C. Itoh & Co. Ltd.; and
WHEREAS, ATC will continue to exist as an operating
division of TWE, with the existing management structure remaining
at both the local and corporate levels and no change is
anticipated in the manner in which the business and operations of
the Franchisee are conducted; and
of the
continue
WHEREAS, the Franchisee will continue
Franchise as an operating division
to operate under the Franchise;
to be the grantee
of TWE and will
NOW, THEREFORE, be it resolved that, insofar as may be
necessary or advisable under the Franchise, transfer of the
Franchise and the cable television system operating pursuant to
the Franchise from the Franchisee to TWE (including any necessary
transfers through one or more subsidiaries of Time Warner), is
hereby authorized and consented to in all respects.
AND, BE IT FURTHER RESOLVED that by adoption of this
Resolution, the City of Wheat Ridge does not waive or modify any
provision of the existing permit issued by the City to American
cablevision of Wheat Ridge dated July 13, 1982, except as
specifically provided herein.
This resolution shall take effect and be in force from
and after the earlier of the date of the final passage hereof or
the earliest time permitted by law.
DONE AND RESOLVED this
26th day of October, 1992.
ayor
ATTEST:
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Wanda Sang, City C~ilk
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