text: our business and/or industry 
  
  (cid:129) putting us at a competitive disadvantage compared to competitors 
  less financial 
  
  Substantially all of our business activities are operated by our 
  subsidiaries. All of our subsidiaries are distinct legal entities that have no 
  obligation, contingent or otherwise, to make funds available to us 
  whether by dividends, 
  loans, advances or other 
  payments, 
  to payment arrangements on intercompany 
  advances. Any of these payments must meet statutory or contractual 
  restrictions, are contingent on the earnings of those subsidiaries, and 
  are subject to various businesses and other considerations. 
  
  who may have more financial 
  leverage, or 
  resources and, or 
  
  (cid:129) restricting our ability to obtain additional financing to fund working 
  capital and capital expenditures and for other general corporate 
  purposes. 
  
  interest payments, 
  subject 
  
  Our ability to satisfy our financial obligations depends on our future 
  operating performance and economic, financial, competitive and other 
  factors, many of which are beyond our control. Our business may not 
  generate sufficient cash flow and future financings may not be available 
  to provide sufficient net proceeds to meet these obligations or to 
  successfully execute our business strategy. 
  
  **Increasing Programming Costs**
  Acquiring programming is the single most significant purchasing 
  commitment in our cable business. Programming costs have increased 
  significantly over the past few years, particularly with the recent growth 
  in subscriptions to digital specialty channels. Programming is also a 
  material cost for Media television properties. Higher programming costs 
  could adversely affect the operating results of our business if we are 
  unable to pass on these costs to subscribers. 