Asheville News

Charter Communications to file for bankruptcy

Jason Sandford February 12, 2009

Jason Sandford

Jason Sandford is a reporter, writer, blogger and photographer interested in all things Asheville.

I blogged back in December about everybody talking about the potential for Charter Communications to file for bankruptcy. Then I noted it again last month. Now it has come to pass. Someone tell me what that means for me, the customer.

CNNMoney.com has it:

NEW YORK (CNNMoney.com) — Charter Communications, a provider of cable TV, Internet and other broadband services, said on Thursday that it will file for bankruptcy, as part of a “financial restructuring.”

The St. Louis-based company said it planned to reduce its debt by $8 billion as a result of a Chapter 11 filing. The company added it intended to file on or before April 1.

“The purpose of Charter’s financial restructuring is to strengthen its balance sheet in order to fully support the company’s operations and service its debt,” said the company, in a press release.

Chief Executive Neil Smit said in the same release that the company “will be even better positioned to deliver the products and services our customers demand now and in the future” as a result of the filing.

Jason Sandford

Jason Sandford is a reporter, writer, blogger and photographer interested in all things Asheville.

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6 Comments

Tarheel Hal February 13, 2009

I’ve heard that Time Warner might be interested in the western NC part of Charter. I agree with Jan. Time Warner makes Charter look like a joke.

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Andrew February 13, 2009

Wow. Just wow.

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Mountain Man February 13, 2009

I was told by someone who I would consider a good source that Charter will likely sell some of their services in certain areas as a way to pay off debt. WIill that area be the Southeast US, including the Western Carolinas? Time will only tell…

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Jan February 12, 2009

I wish they’d fold and Time Warner Cable would pick up our area. Until you’ve had Time Warner, you don’t know what you’re missing. Charter is a joke.

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greenashevilleblogspot.com February 12, 2009

and switch to DirecTV!

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greenashevilleblogspot.com February 12, 2009

For one, it means what I’ve known all along – Charter Sucks!!! Just like Crooked Shitty (Circuit City), the shitty has finally hit the fan!

Reply