Share to Facebook Share to Twitter Bookmark and Share
This record contains private information, which has been redacted from public viewing.
Record #: R2016-984   
Type: Resolution Status: Adopted
Intro date: 12/14/2016 Current Controlling Legislative Body: Committee on Finance
Final action: 12/14/2016
Title: Approval to transfer control of RCN Chicago to Radiate Holdings, LP
Sponsors: Dept./Agency
Topic: AGREEMENTS - Franchise
Attachments: 1. R2016-984.pdf
RESOLUTION
WHEREAS, effective June 24, 1996, the City of Chicago, Illinois ("City") awarded a cable television franchise to 21st Century Cable TV of Chicago, Inc. for Area 1 of the City ("Area 1 Franchise"); and
WHEREAS, on or about April 28, 2000, the Area 1 Franchise was acquired by RCN Cable TV of Chicago, Inc. a Delaware corporation, with its principal place of business at 350 North Orleans Street, Chicago, Illinois ("RCN Chicago"); and
WHEREAS, effective December 7, 2000, RCN Chicago was awarded a cable television franchise for Area 2 of the City, which franchise was modified by agreement of the parties on November 12, 2004 ("Area 2 Franchise"); and
WHEREAS, under the Area 1 Franchise and Area 2 Franchise (together, the "RCN Franchises"), RCN Chicago operates a cable television system ("System") that provides cable services and other communications services in portions ofthe City; and
WHEREAS, on or about August 12, 2016, the current ownership of RCN Chicago (Yankee Cable Partners, LLC and Yankee Cable Parent, LLC) entered into a Membership Purchase Agreement with Radiate HoldCo, LLC. As a result of the transactions contemplated by that Agreement (the "Transactions"), Yankee Cable Parent, LLC will be an indirect wholly owned subsidiary of Radiate Holdings, LP (the "Applicant"); and
WHEREAS, by letter dated September 7, 2016, counsel for the Applicant, together with the parent company of RCN Chicago, provided to the City's Department of Business Affairs & Consumer Protection an FCC Form 394 and associated exhibits (the "Application"), which seeks consent to the transfer of control of RCN Chicago to the Applicant (the "Transfer"); and
WHEREAS, under applicable federal law, the RCN Franchises, and Section 4-280-170 of the Municipal Code, the Transfer requires the written consent of the City; and
WHEREAS, RCN Chicago has represented to the City that after the Transactions are completed, RCN Chicago will remain the legal entity which holds the RCN Franchises and RCN...

Click here for full text