03/27, 11:45am
Charter Files Chapter 11
Charter today said it had filed for Chapter 11 bankruptcy. The anticipated move will see the cable and Internet provider restructure itself under a plan that it had already established ahead of the actual filing to recover its operations. Under the efforts, Charter expects to eliminate about $8 billion of debt and won't require that debtors finance the company to keep it running. Microsoft co-founder Paul Allen will also maintain his stake in the company.
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02/12, 8:35pm
Charter bankruptcy
Cable and telephone provider Charter Communications has announced that it will file for Chapter 11 bankruptcy, after reaching an agreement with a debt holders committee that outlined the conditions of a financial restructuring. The company could see a reduction of approximately $8 billion in debt, with a formal filing to occur on or before April 1st. Charter currently has roughly $800 million in cash on hand to help with the restructuring and operations through the transition.
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01/29, 1:15pm
Charter 60Mbps Internet
Charter Communications recently announced it will launch the one of the fastest widely available Internet services in the US, capable of delivering 60Mbps download speeds and 5Mbps uploads. Called Charter High-Speed Internet Ultra60, the service will initially be released in downtown St. Louis before expanding to other, unnamed markets. At the same time, the Internet provider says it will upgrade its Charter High-Speed Internet Max service to give subscribers 20Mbps download speeds instead of the current 16Mbps without increasing their monthly rates.
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12/19, 11:30am
Paul Allen 700MHz Bid
Microsoft co-founder Paul Allen is one of those already confirmed as bidding in the upcoming FCC auction for the 700MHz wireless band, according to the list of accepted applicants (PDF). The former executive is using a proxy firm known as Vulcan Spectrum in an attempt to capture a slice of the soon to be free wireless spectrum, which has been eagerly sought after by telecom providers for its potential with long-range Internet and similar data. Neither Allen nor Vulcan has revealed the reasons behind the bid, though Allen is also a significant stakeholder in cable provider Charter.
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