Charter Communications files for prearranged Chapter 11 bankruptcy

We knew the flagging Charter Communications was looking to file for Chapter 11 on or before April 1st, and rather than waiting until Wednesday and fielding questions of whether or not the whole thing was "a joke," said carrier has gone ahead and made things official here in March. This past Friday, the fourth largest cable company filed for its prearranged Chapter 11 bankruptcy in order to stave off hungry creditors and look for ways to keep afloat. The good news is that it's hoping to emerge from bankruptcy as early as this summer, and at least currently, it's not planning to sell any of its assets to competitors. Of note, Charter has failed to post a single profit since going public in 1999, so one shouldn't be shocked at the $8 billion debt figure that the filing will restructure. Good luck out there Charter, you're going to need it.

[(Unverified) Posted Mar 29th 2009 2:37PM]

I wish they would sell off their B'ham, AL (metro area) assets. I'm hoping to have U-Verse in my area sometime soon...

[mtkupp Posted Mar 29th 2009 6:10PM]

With what I pay for my bundle (cable/internet/phone) I don't see why they aren't turning a profit.

[(Unverified) Posted Mar 29th 2009 11:18PM]

well it could be part of there god awfull customer service or the fact that suck at providing any decent service are charter took 3 years just to get decent Channels in HD when we mooved 3 years ago we just had ABC NBC FOX ESPN. Now we finally have espn 2 TNT tbs a few other hd chanles. There internet service is a joke im lucky to get up to 1mb on my connection out of a 3mb plan so yeah there just a bad overall company i would love for Comcast to come over and be are cable provider :)

[(Unverified) Posted Mar 29th 2009 7:40PM]

you got that right! Must be paying way too many bonuses! And they still have fewer HD stations then other cable carriers.

[zargon Posted Mar 30th 2009 7:34AM]

I recently moved from a Comcast (formerly Time Warner) area to a Charter area and was highly disappointed with their HD line up. I ended up going with Dish since there just were some HD channels I could afford to lose. I see a lot of people rag on Comcast, but I never had an issue with them and now I would gladly go back to them to get my HD line up. For some stupid reason, Dish has not added A&E yet and if Madmen come back, I do not want to watch it in SD.

I only have internet with Charter and I guess if it means that I could get more HD, I wouldn't mind them losing this area in favor for another choice.