Charter in debt talks

16 Dec 2008

The fourth largest US cable operator, Charter Communications, is thought to be attempting to renegotiate its debt in an effort to avoid bankruptcy. The Wall Street Journal, which cites ‘people familiar with the matter’, says the cableco is hoping to persuade creditors either to roll over its debt or exchange it for equity. Charter has hired Kirkland & Ellis LLP as bankruptcy legal counsel, while Lazard is assisting in the talks with creditors. The operator warned earlier this year that it may need to file for bankruptcy protection if it failed to raise additional funds to finance its cash needs by 2010.

United States, Charter Communications (Spectrum, incl. Spectrum Mobile)