-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MnsuFY6Qqm7w03IaSgfyrv80HhiagyFdoxTNpXXNhuoX/1dyD8mXbKxNhcyP7rzG KB2Uu8AkgXYxKfX+XuATnA== 0000895345-04-000878.txt : 20041202 0000895345-04-000878.hdr.sgml : 20041202 20041202083006 ACCESSION NUMBER: 0000895345-04-000878 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041201 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041202 DATE AS OF CHANGE: 20041202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NTL INC CENTRAL INDEX KEY: 0000906347 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 521822078 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22616 FILM NUMBER: 041178888 BUSINESS ADDRESS: STREET 1: 909 THIRD AVENUE STREET 2: SUITE 2863 CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-906-8440 MAIL ADDRESS: STREET 1: 909 THIRD AVENUE STREET 2: SUITE 2863 CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: NTL COMMUNICATIONS CORP DATE OF NAME CHANGE: 19990401 FORMER COMPANY: FORMER CONFORMED NAME: NTL INC /DE/ DATE OF NAME CHANGE: 19970326 FORMER COMPANY: FORMER CONFORMED NAME: INTERNATIONAL CABLETEL INC DATE OF NAME CHANGE: 19930601 8-K 1 jb8k_ntl.txt UNITED STATES 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): December 1, 2004 NTL INCORPORATED (Exact name of registrant as specified in its charter) Delaware File No. 000-22616 52-1822078 (State of (Commission File Number) (IRS Employer Incorporation) Identification No.) 909 Third Avenue, Suite 2863, New York, New York 10022 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including (212) 906-8440 area code: Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) TABLE OF CONTENTS Item 1.01. Entry into a Material Definitive Agreement Item 9.01. Financial Statements and Exhibits SIGNATURES Exhibit 99.1 Item 1.01. Entry into a Material Definitive Agreement. (a) On December 1, 2004, NTL (Chichester) Limited ("NTL Chichester"), NTL Digital Ventures Limited ("Digital Ventures") and NTL Group Limited, each of which is a subsidiary of NTL Incorporated, entered into a Master Agreement (the "Master Agreement") relating to National Transcommunications Limited ("NatTrans") and NTL Digital Limited ("Digital") with Macquarie UK Broadcast Limited ("Macquarie") and Macquarie UK Broadcast Holdings Limited. (b) Pursuant to the Master Agreement, NTL Chichester agreed to sell all of the ordinary shares of NatTrans to Macquarie and Digital Ventures agreed to sell all of the ordinary shares of Digital to Macquarie for an aggregate purchase price of (pound)1.27 billion. NatTrans and Digital comprise NTL's broadcast business. The sale is subject to regulatory approval and is expected to close in the first quarter of 2005. Item 9.01. Financial Statements and Exhibits Exhibit Description 99.1 Press Release, dated December 1, 2004, issued by the Registrant 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. NTL INCORPORATED Date: December 2, 2004 By: /s/ Jacques Kerrest ------------------------ Name: Jacques Kerrest Title: Chief Financial Officer EXHIBIT INDEX Exhibit Description 99.1 Press Release, dated December 1, 2004, issued by the Registrant EX-99 2 exh99_1.txt [NTL Logo] NTL INCORPORATED ANNOUNCES AGREEMENT TO SELL BROADCAST BUSINESS FOR (POUND)1.27 BILLION LONDON, 1 December 2004 - ntl Incorporated (NASDAQ: NTLI) today announced that it has entered into a definitive agreement to sell its broadcast business to a consortium led by Macquarie Communications Infrastructure Group (MCG) and including Macquarie Bank Limited, Industry Funds Management (Nominees) Limited and other third party investors for a purchase price of (pound)1.27 billion. The sale is subject to regulatory approval and is expected to close in the first quarter of 2005. ntl and the broadcast business have also entered into certain agreements relating to the provision of future services. ntl is currently evaluating alternative uses of the proceeds generated from the sale. These alternatives include a special dividend to shareholders and/or stock repurchases, debt repayment and general corporate purposes. The decision regarding use of proceeds, which will be designed to maximize shareholder value, will be made after the sale is completed, taking into account tax, legal and structural considerations. Simon Duffy, Chief Executive Officer of ntl, said, "We are very pleased to have agreed the sale of our Broadcast division to MCG on these terms. MCG has been an excellent owner of a similar business we sold to them in Australia in 2002 and I am sure that they will prove to be an equally good owner of our UK Broadcast business. The 2002 transaction has proved to be highly beneficial to both MCG and ntl and I am confident that the transaction we are announcing today will prove to be just as successful for both parties. Going forward, this transaction will enable us to focus on continuing to grow our core cable and broadband businesses." The broadcast business provides tower site leasing, broadcast transmission, satellite, media, public safety communications and other network services in the UK and the Republic of Ireland. The broadcast business' customers include the leading UK mobile wireless operators, all major commercial television and radio broadcasters and public safety organizations such as the police, fire and ambulance services. The broadcast business has the second largest independent portfolio of wireless towers and sites available for lease in the UK. More on ntl Incorporated: o ntl Incorporated (NASDAQ: NTLI) offers a wide range of communications and entertainment services to residential and business customers throughout the UK and Ireland. o ntl is the UK's largest cable company and leading broadband supplier with over one million broadband customers and 3 million residential customers. o ntl's fibre-optic broadband network can service 7.8 million homes in the UK including London, Manchester, Nottingham, Oxford, Cambridge, Cardiff, Glasgow and Belfast. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 Various statements contained herein constitute "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995. When used herein, the words "believe," "anticipate," "should," "intend," "plan," "will," "expects," "estimates," "projects," "positioned," "strategy," and similar expressions identify these forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements or industry results to be materially different from those contemplated, projected, forecasted, estimated or budgeted, whether expressed or implied, by these forward-looking statements. These factors include those set forth under the caption "Risk Factors" in our form 10-K that was filed with the SEC on March 11, 2004 and under the caption "Risks Factors" in a Registration Statement on Form S-8 that was filed with the SEC on September 9, 2004 such as potential adverse developments with respect to our liquidity or results of operations; our significant debt payments and other contractual commitments; our ability to fund and execute our business plan; our ability to generate sufficient cash to service our debt; the impact of new business opportunities requiring significant up-front investments; our ability to attract and retain customers, increase our overall market penetration and react to competition from providers of alternative services; our ability to integrate our billing systems; our significant management changes since our emergence from Chapter 11 reorganisation; our ability to develop and maintain back-up for our critical systems; our ability to respond adequately to technological developments; our ability to maintain contracts that are critical to our operations; our ability to continue to design networks, install facilities, obtain and maintain any required governmental licenses or approvals, and finance construction and development, in a timely manner at reasonable costs and on satisfactory terms and conditions; interest rate and currency exchange rate fluctuations; the impact of our reorganisation and subsequent organisational restructuring; and our plan to separate ntl: Broadcast from our other operations and the results of our ongoing auction process. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. For further information about ntl please contact: Investor Relations: US: Patti Leahy, +1 610 667 5554 UK: Virginia Ramsden, +44 (0)20 7967 3338 Media: Alison Kirkwood, +44 (0)1256 752662 / (0)7788 186154 Nicola Mitchell, +44 (0) 1256 752669 / (0)7884 057 576 Buchanan Communications: Richard Oldworth or Jeremy Garcia, +44 (0)20 7466 5000 -----END PRIVACY-ENHANCED MESSAGE-----