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�priL 6, 19A9 # 583 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE MERGER/TIME, INC. and WARNER COMMUNICATIONS, INC.
INITIATED BY: CITY ADMINISTRATION
WHEREAS, the holder of a cable franchise in the City of Oshkosh
is Warner Cable, a wholly-owned subsidiary of Warner Communications, Inc. ,
a widely held New York Stock Exchange company; and
WHEREAS, Warner Communications, Inc. , and Time, Inc. , have entered
into an agreement whereby a wholly-owned subsidiary of Time, Inc. , wil] be
merged with and into Warner Communications with Warner Communications continuin9
to exist following the merger as the surviving corporation and a wholly-owned
subsidiary of Time, Inc. ; and
WHEREAS, following the merger, the name of Time, Inc. , will change to
Time Warner, Inc. , and the company will continue to be a widely held New York
Stock Exchange company; and
WHEREAS, fo] ]owing the merger, Warner Cable will continue to hold its
cable franchise in the City of Oshkosh and shall remain obligated to perform
the terms and conditions thereof according to its existing obligations;
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that, insofar as may be necessary or advisable under the franchise,
the merger of Warner Communications, Inc. and iime, Inc. , is approved and
consented to in all respects and the proper City officials are authori�ed and
directed to execute any appropriate documents to effect same.
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