Charter prepares for bankruptcy filing

16 Feb 2009

The fourth largest US cable company, Charter Communications, has announced that it is to file for Chapter 11 bankruptcy protection on or before 1 April 2009. The firm has restructured its debt obligations, reducing debt by almost USD8 billion. Existing common stock holders will have their shares cancelled; this includes co-founder Paul Allen.

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