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Wachovia Securities 2006 Media and Communications Conference. May 24, 2006.

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Presentation Transcript
caution concerning forward looking statements and non gaap financial measures
This presentation contains certain forward-looking statements relating to future events and Mediacom’s future financial performance. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. Factors that could cause actual results to differ from those contained in the forward-looking statements include: competition in the video, high-speed Internet access and telephone businesses; Mediacom’s ability to achieve anticipated customer and revenue growth and to successfully introduce new products and services; increasing programming costs; changes in laws and regulations; Mediacom’s ability to generate sufficient cash flow to meet its debt service obligations and to access capital to maintain its financial flexibility; and the other risks and uncertainties described in the reports and documents Mediacom files from time to time with the Securities and Exchange Commission. Mediacom assumes no obligation to update or alter these forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

This presentation may include financial measures which are not determined in accordance with generally accepted accounting principles (GAAP) in the United States. Any applicable reconciliation of historical non-GAAP financial measures included in this presentation to the most directly comparable GAAP financial measures is available at the Press Releases link in the Investor Relations section of the Company’s website at www.mediacomcc.com.

Caution Concerning Forward Looking Statements and Non-GAAP Financial Measures
slide3

Mark Stephan

Executive VP and Chief Financial Officer

mediacom today
Mediacom Today
  • Improving basic subscriber trend
  • Expanding RGU penetration
  • Delivering solid operating performance
  • Maintaining financial flexibility
2006 objectives
2006 Objectives
  • Scaling of phone
    • Add 1 million marketable homes by YE 2006 (reaching 87% of total)
    • Realize triple-play pull through across all products
  • Retention of 2005 discounted customers
    • Exceeding expectations YTD
  • Cost controls
    • Capture operating efficiencies
potential upside in pull through effect
Potential Upside in Pull Through Effect

Q1 2006

(1) Weighted average of Comcast, Time Warner, Charter, Adelphia, Cablevision and Insight. Source: Public information.

competitive advantage
Competitive Advantage

ONDEMAND

  • No equipment to purchase
  • No contract
  • Low entry price

Orders per Month

Usage Rates

3.8 million

1.9 million

  • Our advantage today: local broadcast channels
  • Up to 16 HD channels

Over 1,200 hoursof content

enhanced high speed data product
Enhanced High-Speed Data Product
  • Mediacom OnlineMax: 10 Mbps
    • Free wireless router
    • Free premium content
rgu rebound
RGU Rebound

RGU Adds

Penetration of

Homes Passed 79.3% 80.1% 79.7% 86.1% 87.9%

mediacom phone rollout
Mediacom Phone Rollout

Total homes passed = 2.8 million

Mediacom Phone Customers

1.6 million homes marketed Q1 2006

0.9 million additional homes by YE 2006

phone customer distribution
Phone Customer Distribution

New Customer Distribution

Total Customer Distribution

Triple Play Customer Monthly ARPU: $116

phone s ripple effect
Phone’s Ripple Effect

MEDIACOM’s

OPPORTUNITY:

Total Homes Passed = 2.8 million

Incremental RGU penetration

1.5 million homes

(customer relationships)

1.3 million

homes

New video, voice and data customers

mso rboc footprint overlap
MSO-RBOC Footprint Overlap

100% = Total Homes Passed

Source: Wall Street Research

* Pro forma for AT&T-BellSouth merger

business services the next growth market
Business Services – the Next Growth Market
  • Business voice penetration expected to converge with residential VoIP
  • Estimated 250,000 businesses in Mediacom’s markets
  • Business interest in VoIP has gone from weak to strong
  • We become a full service provider to commercial marketplace
slide15

Matt Derdeyn

Group VP, Corporate Finance and Treasurer

mccc summary q1 06 results
MCCC – Summary Q1 06 Results

(1) Excludes non-cash stock compensation charges.

capex shift to success based product growth
Capex Shift to Success-Based Product Growth

($ in millions)

$408

Q1 2006: $47.6

$241

$228

$200

$181

33%

52%

55%

66%

67%

Hurricane Capex $8.1 $6.6 $2.2

Massive shift to success-based investment

flexible capital structure
Flexible Capital Structure

($ in millions)

Mediacom Communications Corporation

Convertible Notes $173

Total Debt $3,100

Mediacom LLC

Senior Notes $625

Total Debt/OCF(2) 7.1x

Mediacom Broadband LLC

Senior Notes $600

Total Debt/OCF 6.1x

Mediacom LLCSubsidiaries

Senior Debt(1) $862

Unused Credit Commitments $388

Senior Debt/SCF(2) 4.0x

Mediacom Broadband LLCSubsidiaries

Senior Debt(1) $861Unused Credit Commitments $581

Senior Debt/SCF 3.4x

Note: Based on Q1 2006 data. OCF and SCF are Q1 annualized and exclude non-cash compensation charges. Pro forma for refinancings of Mediacom LLC Group Term Loan B and Mediacom Broadband Group Term Loan C on May 5, 2006.

(1) Excludes letters of credit.

(2) OCF and SCF for Mediacom LLC includes cash investment income.

18

mccc scheduled debt maturities
MCCC Scheduled Debt Maturities

($ in millions)

$1,304

$912

$172.5

Convert Maturity

$203

$189

$118

$112

$92

$85

$72

$12

Note: Assumes no repayment of revolver outstanding until required by commitment reduction schedule.

Pro forma for May 2006 term loan refinancings at Mediacom LLC Group and Mediacom Broadband Group.

credit availability
Credit Availability
  • Solid track record of preserving liquidity and maintaining ample borrowing availability

($ in millions)

20

* Pro forma for May 2006 term loan refinancings at Mediacom LLC Group and Mediacom Broadband Group.

** Pro forma for drawdown of $250.0 million Mediacom Broadband Group Term Loan D-2 and repayment of MCC 5.25% convertible notes due July 1, 2006.