Charter moves on debt; a director resigns

Tue, 09/30/2008 - 8:45am
Brian Santo

Charter Communications subsidiary Charter Communications Holding is making a cash tender offer for certain outstanding senior notes. The move is designed to reduce the parent company’s consolidated interest expense.

Charter will spend a maximum of $100 million for several different note issues that come due in 2009 and 2010. The tender offer is scheduled to end Oct. 29.

Separately, Jonathan Dolgen has resigned from Charter’s board of directors, effective immediately.

Dolgen said he is resigning for personal reasons and to make time available for other interests. “I have enjoyed having an opportunity to work with Paul Allen and the other members of the board and with the management of the company, particularly Neil Smit,” he said.

Dolgen, the former chairman of the Viacom Entertainment Group, is principal of Wood River Ventures.

Charter currently has no plans to fill his board seat.

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