Charter Communications will File Bankruptcy

[PTBoardOp94]

The company announced today that it would file for bankruptcy sometime in the next six weeks in the face of $18 billion in debt. The third largest cable company in the country says it hopes to continue operations after cost cutting allowed by the bankruptcy court.

http://money.cnn.com/2009/02/12/news/companies/charter_communications/?postversion=2009021214

 

[DToTheJ]

I think they should get a government bailout.

 

[justthenumbers]

The company announced today that it would file for bankruptcy sometime in the next six weeks in the face of $18 billion in debt. The third largest cable company in the country says it hopes to continue operations after cost cutting allowed by the bankruptcy court.

They are actually the third-largest publically traded cable company (that's how it's worded in the article.) In terms of overall number of customers, Cox is third - but they are not publically traded.

 

[ssetta]

Do you suppose they'll get bought out by someone else? This sounds a lot like what happened with Adelphia.

 

[easttxtv]

Do you suppose they'll get bought out by someone else? This sounds a lot like what happened with Adelphia.

They've had plenty of chance to be bought out before now, but I think the single issue that kept most suitors away before now was the sheer mass of Charter's debt, which has persisted for *years*.