Charter 2014 Annual Report Download - page 8

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1 Charter customer counts as of 12/31/2014 and include residential and commercial customers based on its reporting methodology. TWC and GreatLand
customer counts as of 12/31/2014 based on respective TWC and Comcast reporting methodologies, where there may be small definitional differences.
Benefits of Transactions with Comcast
• Management services
agreement between Charter
and GreatLand will enhance
local service capabilities
•
Service fee to Charter of
4.25% of GreatLand revenue
• All transactions (i.e., sale,
swap and GreatLand
transaction) to be valued at
an enterprise value/2014E
Carveout EBITDA of 7.125x
33% Ownership
Stake in GreatLand
Connections
Drives Operational
& Financial
Benefits
• Charter will own systems
with 5.6M video customers
and service areas with 8.1M
video customers1
• Charter and GreatLand
will be the leading cable
operators in 10 states
• New footprint will be more
logically distributed, driving
operational synergies,
including more ecient
use of mass marketing
Enhances
Scale &
Footprint
Pro Forma Charter Communications
and GreatLand Connections Footprint
GreatLand Connections
Pro Forma Charter
Fair
Valuation
6Charter Communications2014 Annual Report