Charter owner studies options

20 Aug 2007

The chairman and majority shareholder of US cable operator Charter Communications says he is considering taking complete control of the loss-making firm. Paul Allen, who was one of the founders of Microsoft, currently holds 52% of Charter’s shares and 92% of the voting rights. The Wall Street Journal reports that he is considering buying up all outstanding stock but is also looking at other strategies such as recapitalisation, restructuring, asset sales or a merger. Charter, which made a USD360 million loss in its latest quarter and is USD19.6 billion in debt, has more than 2.5 million broadband internet customers.