Title
Granting, with conditions, the consent to the transfer of control of the cable television franchisee and cable television system from Comcast Corporation to Greatland Connections, Inc.
Body
WHEREAS, the City of St Paul, Minnesota, is a Municipal Corporation; and
WHEREAS, Comcast of St. Paul, Inc., (“Franchisee”) holds a cable franchise (the “Franchise”) and is a party to related agreements (the “Franchise Documents”) pursuant to which it operates a cable television system (the “System”) in the City; and
WHEREAS, Section 121 of the Franchise requires the City’s prior consent to a sale or transfer of stock so as to create a new controlling interest under Minnesota Statutes 238.083; and
WHEREAS, the City has the authority to administer and enforce the Franchise; and
WHEREAS, Comcast of St. Paul, Inc., is an indirect, wholly-owned subsidiary of Comcast Corporation (“Comcast”); and
WHEREAS, Comcast, as the ultimate parent corporation of Franchisee, has agreed to divest and transfer the Franchisee, following its conversion to a limited liability company, and Cable System to Midwest Cable, Inc., in a process described in the Transfer Application (the “Proposed Transaction”); and
WHEREAS, immediately following the closing of the Proposed Transaction, Midwest Cable, Inc., will be renamed GreatLand Connections, Inc., and, for the purposes of this Resolution, the transfer applicant will be referred to as “GreatLand” throughout; and
WHEREAS, Comcast filed a Federal Communications Commission Form 394 with the City on June 18, 2014, together with certain attached materials, which documents more fully describe the Proposed Transaction and which documents, with their attachments, contain certain promises, conditions, representations and warranties (the “Transfer Application”); and
WHEREAS, under the Proposed Transaction, the Franchisee will become a wholly owned subsidiary of GreatLand; and
WHEREAS, under the Proposed Transaction, the ultimate ownership and control of t...
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