1d. Approve Resolution Acknowledging the Transaction of Mediacom0
CITY OF
CHANgASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227,1180
Fax: 952.227.1190
Engineering
Phone: 952227.1160
Fax: 952.227.1170
Finance
Phone: 952.227.1140
Fax: 952.227.1110
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Phone: 952.227.1120
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Recreation Center
2310 Coulter Boulevard
Phone: 952.227.1400
Fax: 952.227.1404
Planning &
Natural Resources
Phone: 952227.1130
Fax: 952.227.1110
Public Works
1591 Park Road
Phone: 952.227,1300
Fax: 952.227.1310
Senior Center
Phone: 952.227.1125
Fax: 952.227.1110
Web Site
www.ci.chanhassen.mn.us
MEMORANDUM
TO: Mayor & City Council
FROM: Todd Gerhardt, City Manager
DATE: January 24, 2011 0& .
SUBJ: Approve Resolution Acknowledging the Transaction of
Mediacom
PROPOSED MOTION:
"The city council approves the Resolution Acknowledging the
Transaction of Mediacom and does not object to its sale."
Approval requires a simple majority vote of the council.
BACKGROUND
Mediacom has informed the city that JMC Communications, LLC (owned by
Rocco Commisso) has purchased all of Mediacom's shares and Mr. Commisso
is the sole owner of Mediacom. The city attorney has reviewed the attached
resolution and recommends the city council acknowledge the transaction with no
objection to the sale.
ATTACHMENT
1. Resolution Acknowledging the Sale.
g: \admin \tg \mediacom transaction 1 -24 -I Ldoc
Chanhassen is a Community for Life - Providing for Today and Planning for Tomorrow
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: RESOLUTION NO:
MOTION BY: SECONDED BY:
A RESOLUTION ACKNOWLEDING TRANSACTION
WHEREAS, The City of Chanhassen, Minnesota ( "Franchising Authority ") granted a cable
television Franchise to Mediacom Minnesota LLC ( "Franchisee "); and
WHEREAS, Franchisee has informed the City that on November 12, 2010, the ultimate parent of
Franchisee, Mediacom Communications Corporation ( "Mediacom "), executed an Agreement and Plan of
Merger (the "Merger Agreement ");
WHEREAS, Franchisee has informed the City that under the term as of the Merger Agreement,
JMC Communications LLC, an entity owned and controlled by Mediacom's Chairman and CEO, Rocco
Commisso, will be merged with and into Mediacom and Mediacom shall survive the merger (the
"Transaction ");
WHEREAS, Franchisee has informed the City that as a result of the Transaction, all of Mediacom's
shares held by the public shareholders will be purchased by Mr. Commisso who will then be the sole owner
of Mediacom;
WHEREAS, Franchisee has informed the City that immediately before and after the Transaction,
Mr. Commissio will control Mediacom; and
NOW, THEREFORE, BE IT RESOLVED BY FRANCHISING AUTHORITY:
Section 1. The Franchising Authority hereby acknowledges the Transaction and does not object to
it.
Passed and adopted by the Chanhassen City Council this day of
ATTEST:
Todd Gerhardt, City Manager Thomas A. Furlong, Mayor
YES NO ABSENT
WCSR 4499427v2
CERTIFICATION
STATE OF MINNESOTA )
ss
COUNTY OF CARVER )
I, Todd Gerhardt, duly appointed and acting City Clerk for the City of Chanhassen,
Minnesota, do hereby certify that I have compared the foregoing copy of Resolution No. 2010-
Approving Carver County Resolution 27 -10 adopted on , 2010, with the
original copy now on file in my office and have found the same to be a true and correct copy
thereof.
Witness my hand and official seal at Chanhassen, Minnesota, this day of
, 2010.
Todd Gerhardt, City Clerk
WCSR 4499427v2