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• SUMMARY OF PROPOSED TRANSFERS OF OWNERSHIP <br /> Transfers of ownership of cable systems require the consent of the local franchising authority <br /> (City). The City has traditionally delegated through its joint powers agreement the review process <br /> to the cable commission. The process is lengthy and complicated, and has been conducted by the <br /> commission over the past four months. In this case, the issues were further complicated by the <br /> fact that at the same time as Continental was purchasing Meredith, US West was proposing <br /> purchasing Continental. Therefore, the Commission (and now the City) needed to review TWO <br /> transfers of ownership. <br /> Enclosed are the results of that review. <br /> FREQUENTLY ASKED QUESTIONS: <br /> 1. Will the rates go up as a result of these transfers? <br /> Although no one can guarantee cable rates, the companies have assured the Commission <br /> that there are no plans to increase rates. If Meredith had retained ownership of the <br /> systems, they could have increased rates, and the new owners will not be able to increase <br /> rates any more than Meredith could have. <br /> 2. Will any channel or program offering.on the system change? <br /> No. However, companies often change program channels in response to the interests of <br /> subscribers, and the new companies have the right to do the same. <br /> 3. Will there be a decrease in customer service or change in local management? <br /> No. The local management team will remain intact, as will the existing customer service <br /> representatives. <br /> 4. Will all commitments to local programming remain the same? <br /> Yes. <br /> 5. What is the phone company doing owning our cable system? <br /> US West cannot own your cable system without receiving special permission from the <br /> Federal Communications Commission. They have applied for a limited waiver (permitting <br /> them to own the systems for up to 18 months) and that petition is pending. If they do not <br /> receive the waiver, they cannot close on the sale, and Continental will retain ownership <br /> of the systems. The FCC may decide (as we argue the law requires) that the waiver <br /> • requires the approval of the city. If that is the case, that decision will come back to the <br /> city, BUT THAT DECISION IS A SEPARATE DECISION FROM THIS TRANSFER <br /> DECISION. <br />