SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):September 28, 1999
Cox Communications, Inc.
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(Exact name of Registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation or organization)
1-6590 58-2112288
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(Commission File Number) (I.R.S. Employer Identification Number)
1400 Lake Hearn Drive
Atlanta, Georgia 30319
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(Address of principal executive offices) (Zip Code)
(404) 843-5000
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(Registrant's telephone number, including area code)
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Item 5. Other Events.
On September 28, 1999, Cox Communications, Inc. ("Cox") entered into a new
364-day credit agreement and amended and restated its 5-year credit agreement
providing for borrowings of up to $1.5 billion and $1.2 billion, respectively.
As of the date this report is being filed, Cox had not borrowed under either
credit agreement.
On October 1, 1999, Cox completed acquisition of the cable television
systems owned by Media General, Inc. A copy of the press release announcing the
completion of this transaction is attached as exhibit 99.1.
Also on October 1, 1999, Cox restructured its partnership with Time Warner
Entertainment Company L.P. As part of this restructuring, Cox acquired control
of the cable television system serving Fort Walton Beach, Florida, and Time
Warner acquired control of the cable television system serving Staten Island,
New York. In connection with the restructuring, the Fort Walton Beach system and
Cox's cable television system serving Pensacola, Florida, received approximately
$104 million in cash to be used for capital expenditures and a reduction of
indebtedness. A copy of the press release announcing the completion of this
transaction is attached as exhibit 99.2.
Item 7. Exhibits
Exhibit 99.1 Press Release, dated October 1, 1999
Exhibit 99.2 Press Release, dated October 5, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
COX COMMUNICATIONS, INC.
Dated: October 5, 1999 By: /s/ Andrew A. Merdek
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Andrew A. Merdek
Secretary
Exhibit 99.1
Cox Communications Completes Acquisition of Media General Systems in Northern
Virginia
10/1/99
ATLANTA -- Cox Communications, Inc. today announced it has completed its
acquisition of the cable systems owned by Media General Inc., which serve more
than 260,000 customers in Fairfax County and Fredericksburg, Va. Under terms of
the agreement announced in April, Cox has acquired the Media General systems in
a cash transaction valued at $1.4 billion.
In making the announcement, Jim Robbins, President and CEO of Cox Communications
said, "We look forward to providing high quality video programming and other
advanced broadband services for customers in Northern Virginia. Entering this
market allows us to enhance our already strong presence in the state of
Virginia, where we have earned a solid reputation for providing the best
broadband technology with a deep commitment to customer and community service."
Cox currently serves more than 450,000 customers in Virginia in the Hampton
Roads and Roanoke areas. The Media General cable systems serve the entire
Fairfax County area, as well as portions of the City of Fredericksburg and
portions of the counties of Stafford and Spotsylvania.
Following the close of pending acquisitions, Cox will serve approximately 6
million customers nationwide, making it the nation's fifth largest cable
company. A full-service provider of telecommunications products, Cox offers an
array of services, including cable television under the Cox Cable brand;
advanced digital video programming services under the Cox Digital Cable brand;
local and long distance telephone services under the Cox Digital Telephone
brand; high-speed Internet access via Cox@Home; and commercial voice and data
services via Cox Business Services. Cox is an investor in telecommunications
companies including Sprint PCS and Excite@Home, as well as programming networks
including Discovery Channel, The Learning Channel, Outdoor Life and Speedvision.
More information about Cox Communications can be accessed on the Internet at
www.cox.com.
CONTACT: Cox Communications, Atlanta
Amy Cohn, 404/843-5769
888/395-1854 pager
Exhbibit 99.2
FOR RELEASE IMMEDIATELY OCTOBER 5, 1999
COX COMMUNICATIONS AND TIME WARNER CABLE
RESTRUCTURE PARTNERSHIP
ATLANTA - Cox Communications, Inc. (NYSE:COX) and Time Warner Cable today
announced the restructuring of TWC Cable Partners, a partnership that owns cable
television systems serving Ft. Walton Beach, Florida and Staten Island, New
York. Under the new partnership structure, Cox will own a controlling interest
in the 73,300-customer Ft. Walton Beach system, allowing the company to
consolidate the operation with its adjacent system in Pensacola. Likewise, Time
Warner will own a controlling interest in the 109,500-customer Staten Island
system and will consolidate it with adjacent Time Warner properties. The Florida
systems also will receive an undisclosed amount of cash to be used for planned
capital improvements and a reduction of indebtedness.
Since 1992, the two companies have each owned a 50% interest in the partnership,
with Cox managing the Ft. Walton Beach system and Time Warner managing the
Staten Island system.
# # #
Contact: Amy Cohn Mike Luftman
Cox Communications Time Warner Cable
404/843-5769 phone 203/328-0613
888/395-1854 pager
