InvestorsOctober 17, 2000
Charter Communications Selects Universal Electronics to Supply One Million Remotes for Digital Interactive Cable
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ST. LOUIS, Mo., and CYPRESS, Calif., Oct. 17, 2000 – Charter Communications, Inc. (NASDAQ: CHTR), and Universal Electronics Inc. (UEI; NASDAQ: UEIC) today announced a multimillion-dollar agreement through which UEI will supply one million digital interactive remote control units over an 18-month period to support Charter’s digital cable rollout.
Charter is the nation’s fourth largest cable television system, covering 40 states. Wireless technology developer UEI supplies 13 of the top15 multiple-cable-system operators (MSOs) in the country with software, microchips and/or hardware for wireless remote controls and keyboards.
“Charter has achieved great success and leads the industry in rolling out digital cable. UEI’s advanced-technology remote enhances Charter’s strategy of offering our customers expanded digital interactive services such as video-on-demand, Internet TV and e-commerce,” said John Pietri, senior vice president of engineering for Charter. “By enabling customers to control everything audio-video using a single integrated system, we give them the best technology to enhance their digital experience.”
“We look forward to helping Charter realize its vision of a ‘wired world,’” said UEI Chairman and CEO Camille Jayne. “As a supplier to local Charter networks throughout the country, UEI is very pleased that Charter has also selected us to support its digital cable offering,” Jayne said. “Our scalable technology and products give UEI a strong, turnkey advantage as cable systems transition from analog to advanced analog, digital or digital interactive systems.”
The UEI remotes that Charter will use to deliver digital cable service to many of its subscribers are the Millennium 4TM and Millennium Interactive, a series created specifically for the cable industry’s next-generation advanced analog or digital set-top boxes. The MillenniumTM models encase a number of UEI-patented features – such as tune-in, favorite-channel macro keys and upgradeability, designed to provide ease of use for subscribers and, for cable operators, the peace of mind of non-obsolescence. The Millennium series is compatible with all infrared-enhanced televisions, set-top boxes, and audio-visual equipment manufactured for use in the United States.
“This is possible because UEI’s own ‘home theater’ of IR operating codes contains about 100,000 of the IR device codes pre-programmed into remotes to operate any cable box, TV, DVD, VCR or other entertainment system component,” said Paul Arling, UEI president and COO. “And that includes audio. Subscribers can get rid of their entire collection of remotes because we guarantee that one Millennium will operate all of their equipment.”
About Charter With 6.3 million customers, Charter Communications, a Wired World companyÔ, is among the nation’s largest broadband communications companies. Charter offers an array of advanced broadband services, including digital video programming services under the Charter Digital Cable™ brand, and high-speed Internet access via Charter Pipeline ™. Charter’s Class A common stock is traded on the NASDAQ National Market under the ticker symbol “CHTR.” More information about Charter can be found on the Internet at www.chartercom.com.
About Universal Electronics Universal Electronics Inc., based in Southern California, develops software, and builds and markets pre-programmed, easy-to-use wireless control devices and chips principally for home entertainment equipment and the subscription broadcast market. The company’s product lines include such wireless interface technologies as combination keyboard/remotes and touch-screen remotes. UEI licenses its patented technologies and database of infrared codes to companies selling into the cable and satellite industries, and to original equipment manufacturers. The company also sells its universal remote control products to distributors and retailers in Europe, Asia, South America and Australia under the One For All® brand name. More information about UEI can be found on the Internet at www.uei.com.
This press release contains forward-looking statements that are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development, ordering, delivery and market acceptance of products and technologies identified in this release, maintaining the exclusivity identified in this release, and other factors described in the companies’ filings with the Securities and Exchange Commission. The actual results that the companies achieve may differ materially from any forward-looking statement due to such risks and uncertainties. The companies undertake no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.