Reuters reports that Charter faces stiff challenges from senior lenders claiming that "the plan was full of 'gimmicks' and violates the bankruptcy code." Charter, the report said, realized that the low interest rates on its senior debt could be turned into one of the MSO's greatest assets if they could be reinstated, but JPMorgan, holder of $8.5 billion of that debt, claims Charter's reorg plan would change control of the company and create a default "that would make debt reinstatement impossible."
Charter's fast-track plan intends to see the MSO emerge from bankruptcy later this summer. Charter filed its Chapter 11 petitions on March 27. (See Charter Turns to Chapter 11.)
Cable's thinking along these lines, too. In March 2007, CableLabs launched in initiative to develop interface specs that would let cable set-tops receive off-air digital broadcast signals.
— Jeff Baumgartner, Site Editor, Cable Digital News