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Charter extends Chapter 11 timetable

Thu, 10/15/2009 - 8:20am
Brian Santo

Charter Communications has filed an amendment in its Chapter 11 proceedings in which it is reserving the option for more time to, if needed, negotiate its debt restructuring deal with Charter Chairman Paul Allen.

The amended agreement gives Charter until Nov. 2 to exit bankruptcy, or until Dec. 15 if Charter has not obtained the necessary permits and regulatory approval in connection with its reorganization plan by that date, according to Reuters.

Charter filed for Chapter 11 in March.

The cable operator had hoped its debt restructuring would be a fairly quick process, but several of its banks objected to Charter’s original plan.

More Broadband Direct 10/15/09:
•  Sigma Designs acquires CopperGate
•  Samsung TVs go direct to Blockbuster on-demand
•  AT&T fires another salvo over Google Voice 
•  Charter extends Chapter 11 timetable
•  Away from the financial bust, tech stocks boomed
•  UTStarcom, Starent settle legal spat
•  PC shipments gain in Q3
•  Broadband Briefs for 10/15/09

 

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