Share to Facebook Share to Twitter Bookmark and Share
Record #: SR2021-388   
Type: Resolution Status: Adopted
Intro date: 3/24/2021 Current Controlling Legislative Body: Committee on License and Consumer Protection
Final action: 4/21/2021
Title: Approval of transfer of ownership in RCN Cable TV of Chicago, Inc.
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Franchise
Attachments: 1. SR2021-388.pdf, 2. R2021-388.pdf
SUBSTITUTE 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 of the City; and
WHEREAS, on October 31, 2020, the current ownership of RCN Chicago (Radiate Holdings, L.P., and its Affiliates), entered into an Agreement and Plan of Merger with StonePeak Associates IV, LLC and certain of its affiliates (the "Agreement"). As a result of the transactions contemplated by the Agreement (the "Transactions"), Radiate Holdings, L.P. will be an indirect wholly owned subsidiary of StonePeak Associates IV, LLC (the "Applicant"); and
WHEREAS, by letter dated December 21, 2020, counsel for the Applicant provided to the City's Department of Business Affairs & Consumer Protection a 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. Applicant has represented to the City that after the Transactions are completed, RCN Chicago will remain the legal entity which holds the RCN Franchises and R...

Click here for full text