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Exhibit 99.1
[LOGO OF Mediacom]
For Immediate Release
Contact: Mark E. Stephan
Senior Vice President and
Chief Financial Officer
845-695-2640
[email protected]
Mediacom Communications Announces
Proposed Offering of Senior Notes
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Middletown, NY --- January 16, 2001 --- MEDIACOM COMMUNICATIONS CORPORATION
(the "Company") (Nasdaq: MCCC) announced today that its wholly-owned subsidiary,
Mediacom LLC, intends to offer $300 million of senior notes (the "Senior Notes")
due 2013. The net proceeds from this private placement will be used to repay
bank indebtedness under the Company's revolving credit agreements.
The Senior Notes will be offered to qualified institutional buyers under Rule
144A and to persons outside the United States under Regulation S. The Senior
Notes will not be registered under the Securities Act of 1933, as amended (the
"Securities Act"), and, unless so registered, may not be offered or sold in the
United States except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and applicable
state securities laws. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy, nor shall there be any sale of the
Senior Notes in any state in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state.
The Company is the 9th largest cable television company in the United States.
The Company's cable systems pass approximately 1.2 million homes and serve
approximately 780,000 basic subscribers in 22 states. The Company offers an
array of broadband services, including cable television, advanced digital video
programming and high-speed Internet access. The Company was founded in July
1995 by Rocco B. Commisso, its Chairman and Chief Executive Officer, to acquire
and develop cable television systems serving principally non-metropolitan
markets in the United States.
Any statements in this press release that are not historical facts are forward-
looking statements within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended. These forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ materially from
historical results or those the Company or Mediacom LLC anticipates. For a
discussion of such risks and uncertainties, which could cause actual results to
differ from those contained in the forward-looking statements, see the reports
and documents the Company and Mediacom LLC file from time to time with the
Securities and Exchange Commission. The Company and Mediacom LLC are under no
obligation (and expressly disclaim any such obligation) to update or alter their
forward-looking statements, whether as a result of new information, future
events or otherwise.
Mediacom Communications Corporation
100 Crystal Run Road * Middletown, NY 10941 * 845-695-2600 * Fax 845-695-2639
