Charter's Chapter 11 Adds a Page
Its Chapter 11 reorg might be extended until mid-December, as the MSO alters its deal with chairman Paul Allen, Reuters reports today.
Reuters notes that Charter filed the latest agreement with the bankruptcy court on Tuesday, giving the MSO until November 2 to exit bankruptcy, or until December 15 if it doesn't get all its permits and regulatory ducks in a row by then.
Under a prearranged bankruptcy announced in March, Charter's looking to shave $8 billion from its $22 billion debt load, but some debtholders are howling that the MSO had violated its earlier loan agreements. (See Charter Bankruptcy Update , Cable Catchup, and Charter Turns to Chapter 11.)
— Jeff Baumgartner, Site Editor, Cable Digital News