UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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 5, 2014

 

WideOpenWest Finance, LLC

(Exact name of registrant as specified in its Charter)

 

Delaware

 

333-187850

 

31-1811298

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of incorporation)

 

File Number)

 

Identification No.)

 

7887 East Belleview Avenue, Suite 1000 Englewood,
Colorado

 

80111

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (720) 479-3500

 

Not applicable

(Former name or former address, if changed since last report)

 

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:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 2.05 Costs Associated with Exit or Disposal Activities.

 

On December 3, 2014, WideOpenWest Finance, LLC. (the “Company”) committed to a workforce reduction plan whereby the Company will eliminate approximately 275 employees across all levels and geographic regions of the Company.  The company is implementing this plan to compete more efficiently and better position itself for future growth.  One-time termination costs, all of which represent cash expenditures, resulting from the reduction will total approximately $5.7 million and will be recorded in the fourth quarter of 2014.

 

The Company expects to realize approximately $20.0 million in annualized cost savings as a result of the workforce reduction beginning in the late fourth quarter of 2014.

 


 

This Filing may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. These forward-looking statements include charges and cash expenditures related to this reduction in workforce and are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties. You should review our filings with the SEC, including the section titled “Risk Factors” contained in our Form 10-K Annual Report filed with the SEC on March 17, 2014 and our Form 10-Q for the quarter ended September 30, 2014 as filed with the SEC on November 10, 2014.

 

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.

 

 

WIDEOPENWEST FINANCE, LLC

 

 

Date: December 5, 2014

By:

/s/ Richard E. Fish, Jr.

 

 

Richard E. Fish, Jr.

 

 

Chief Financial Officer

 

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