Charter Communications-The Worst of the Worst
09-09-08, 05:14 PM
#1
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Charter Communications-The Worst of the Worst
Last February all of a sudden I wasn't receiving NHL Center Ice after it was already bought and paid for so I called them and finally they fixed the problem only to bill me again for the same service. About a month ago I decided to go with Directv but I kept Charter only because I had already paid for MLB Extra Innings. I called them and told them to remove all the channels except I was keeping MLB Extra Innings and basic cable. I get the bill in the mail and they double-billed me for MLB Extra Innings. I finally got that solved yesterday and now the MLB isn't working on one digital box so I called them and they said I hadn't paid for the service. I said I did and if I didn't why would it still be working on one tv. Well finally I talked to someone who is sending a booster to the box and hopefully it will work in a few minutes. As of Sept. 28th I am done with Charter-The Master's of Double-billing.
02-12-09, 03:11 PM
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Re: Charter Communications-The Worst of the Worst
http://news.yahoo.com/s/nm/20090212/bs_nm/us_charter_2
This has got to be a record for time between 1st and 2nd posts! 
Chris
Paul Allen's Charter to file Chapter 11
46 mins ago
NEW YORK (Reuters) – Charter Communications Inc (CHTR.O) said on Thursday it will restructure its heavy debt load under Chapter 11 bankruptcy protection filing by April 1, wiping out shareholders as the company reached a deal with senior debt holders.
The cable operator, controlled by Microsoft co-founder Paul Allen, said in a statement it would file for Chapter 11 on or before April 1 after it reached a deal with some of its creditors helping to reduce its debt by around $8 billion. It had a debt load of around $21 billion as of Sept 30.
Various debt holders and bondholders will receive a mix of new notes, equity and cash depending on their seniority. Shareholders will not receive anything for common stock, which will be canceled.
Under the agreement around $10 billion of bank debt will remain on Charter's balance sheet untouched while the $11 billion held by bondholders will be reduced to $3 billion, people familiar with the agreement said.
The bondholders will have most of their notes converted to new notes and common stock or warrants to buy common stock.
Paul Allen will continue as an investor and retain the largest voting interest in Charter.
Allen's various non-equity holdings in Charter including debt and preferred were converted to equity under the new capital structure, these people said.
Chief Executive Neil Smit said in a statement the agreement covered "a significant portion" of bondholders.
The company, which has more than 5.5 million subscribers, said it would make an overdue interest payment of $74 million before a final deadline of February 15.
Charter said that as of February 11 it had more than $800 million in cash on its balance sheet. The company said it believed its liquidity combined with its cash from operating activities would be sufficient to meet its projected cash needs.
The company said it expects fourth quarter earnings before interest, tax, depreciation and amortization will grow to 9.7 percent to $620 million. It said revenue is expected to grow 7 percent to $1.656 billion and expects to record an impairment charge of $1.5 billion.
It said capital expenditures would be about $264 million.
Charter also said it expects to lose around 75,100 basic video subscribers but add around 22,300 net digital video subscribers during the fourth quarter.
The company said it will add 22,900 high-speed Internet customers and 75,200 phone subscribers for the period.
(Reporting by Yinka Adegoke; Editing by Bernard Orr)
46 mins ago
NEW YORK (Reuters) – Charter Communications Inc (CHTR.O) said on Thursday it will restructure its heavy debt load under Chapter 11 bankruptcy protection filing by April 1, wiping out shareholders as the company reached a deal with senior debt holders.
The cable operator, controlled by Microsoft co-founder Paul Allen, said in a statement it would file for Chapter 11 on or before April 1 after it reached a deal with some of its creditors helping to reduce its debt by around $8 billion. It had a debt load of around $21 billion as of Sept 30.
Various debt holders and bondholders will receive a mix of new notes, equity and cash depending on their seniority. Shareholders will not receive anything for common stock, which will be canceled.
Under the agreement around $10 billion of bank debt will remain on Charter's balance sheet untouched while the $11 billion held by bondholders will be reduced to $3 billion, people familiar with the agreement said.
The bondholders will have most of their notes converted to new notes and common stock or warrants to buy common stock.
Paul Allen will continue as an investor and retain the largest voting interest in Charter.
Allen's various non-equity holdings in Charter including debt and preferred were converted to equity under the new capital structure, these people said.
Chief Executive Neil Smit said in a statement the agreement covered "a significant portion" of bondholders.
The company, which has more than 5.5 million subscribers, said it would make an overdue interest payment of $74 million before a final deadline of February 15.
Charter said that as of February 11 it had more than $800 million in cash on its balance sheet. The company said it believed its liquidity combined with its cash from operating activities would be sufficient to meet its projected cash needs.
The company said it expects fourth quarter earnings before interest, tax, depreciation and amortization will grow to 9.7 percent to $620 million. It said revenue is expected to grow 7 percent to $1.656 billion and expects to record an impairment charge of $1.5 billion.
It said capital expenditures would be about $264 million.
Charter also said it expects to lose around 75,100 basic video subscribers but add around 22,300 net digital video subscribers during the fourth quarter.
The company said it will add 22,900 high-speed Internet customers and 75,200 phone subscribers for the period.
(Reporting by Yinka Adegoke; Editing by Bernard Orr)
Chris
02-13-09, 07:27 PM
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Re: Charter Communications-The Worst of the Worst
Thanks for letting me know that their boat is sinking. I abandoned ship back in October.
02-13-09, 08:13 PM
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Re: Charter Communications-The Worst of the Worst
I HATE charter. They provide the shittiest cable I have ever seen. I canceled in December once I saw they were raising their cable prices yet again by like another $10. I like to think I played a part in their demise.
I still have the high-speed internet but I wanna find another provider. Death to Charter.
I still have the high-speed internet but I wanna find another provider. Death to Charter.
03-27-09, 11:12 AM
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Re: Charter Communications-The Worst of the Worst
http://news.yahoo.com/s/nm/20090327/bs_nm/us_charter_1
Chris
Charter Communications files for bankruptcy
By Caroline Humer Caroline Humer
1 hr 31 mins ago
NEW YORK (Reuters) – Charter Communications (CHTR.O), the fourth largest-cable operator, filed for bankruptcy after becoming overwhelmed by a $24.2 billion debt load.
Charter negotiated a restructuring with bondholders that will reduce its debt by $8 billion. The move will enable it to cut interest payments and increase its cash.
Charter has been facing stiff competition from satellite TV operators and telephone line operators that provide video services. Its revenue increased 8 percent in 2008 while it reported a net loss of $2.45 billion.
The company, which made the filing in bankruptcy court in the Southern District of New York, said that it plans to fund operations during the bankruptcy with cash it has on hand and cash from operating activities.
This will enable it to avoid the need for debtor-in-possession financing, which has become pricier and more difficult to negotiate because of tight credit markets. In court documents it said it has $13.1 billion in assets.
The company said that the plan is supported by Microsoft co-founder Paul Allen, who will have the largest voting interest in the company at 35 percent. Allen controlled the company prior to the bankruptcy through his majority equity stake.
Charter said in February that it had come to an agreement with bondholders on a debt restructuring and that it planned to file for bankruptcy by the beginning of April.
It said that the members of the bondholder committee will invest more than $3 billion in the company including $2 billion in equity, $1.2 billion through the roll-over of pre-petition debt and $267 million in new debt.
Charter said that 73 percent of the holders of its 11 percent senior secured notes due 2015 of CCH I and 52 percent of the holders of the 10.25 percent senior notes due 2010 and 2013 of CCH II supported the plan.
Charter said that its chief restructuring officer is Gregory Doody, who led energy company Calpine Corp.(CPN.N) out of its bankruptcy and restructuring.
Charter said that it is being advised by Kirkland & Ellis, Lazard and AlixPartners. The bondholders are being advised by Paul, Weiss, Rifkind, Wharton & Garrison; Houlihan Lokey Howard & Zukin Capital and UBS Securities.
(Additional reporting by Tom Hals; Editing by Steve Orlofsky)
By Caroline Humer Caroline Humer
1 hr 31 mins ago
NEW YORK (Reuters) – Charter Communications (CHTR.O), the fourth largest-cable operator, filed for bankruptcy after becoming overwhelmed by a $24.2 billion debt load.
Charter negotiated a restructuring with bondholders that will reduce its debt by $8 billion. The move will enable it to cut interest payments and increase its cash.
Charter has been facing stiff competition from satellite TV operators and telephone line operators that provide video services. Its revenue increased 8 percent in 2008 while it reported a net loss of $2.45 billion.
The company, which made the filing in bankruptcy court in the Southern District of New York, said that it plans to fund operations during the bankruptcy with cash it has on hand and cash from operating activities.
This will enable it to avoid the need for debtor-in-possession financing, which has become pricier and more difficult to negotiate because of tight credit markets. In court documents it said it has $13.1 billion in assets.
The company said that the plan is supported by Microsoft co-founder Paul Allen, who will have the largest voting interest in the company at 35 percent. Allen controlled the company prior to the bankruptcy through his majority equity stake.
Charter said in February that it had come to an agreement with bondholders on a debt restructuring and that it planned to file for bankruptcy by the beginning of April.
It said that the members of the bondholder committee will invest more than $3 billion in the company including $2 billion in equity, $1.2 billion through the roll-over of pre-petition debt and $267 million in new debt.
Charter said that 73 percent of the holders of its 11 percent senior secured notes due 2015 of CCH I and 52 percent of the holders of the 10.25 percent senior notes due 2010 and 2013 of CCH II supported the plan.
Charter said that its chief restructuring officer is Gregory Doody, who led energy company Calpine Corp.(CPN.N) out of its bankruptcy and restructuring.
Charter said that it is being advised by Kirkland & Ellis, Lazard and AlixPartners. The bondholders are being advised by Paul, Weiss, Rifkind, Wharton & Garrison; Houlihan Lokey Howard & Zukin Capital and UBS Securities.
(Additional reporting by Tom Hals; Editing by Steve Orlofsky)
03-27-09, 02:30 PM
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Re: Charter Communications-The Worst of the Worst
I agree. Where I use to live, it was Charter and they blew (including their cable internet service). They left and Atlantic Broadband moved in (and were just as bad, if not worse). Glad I do not have to deal with either of them anymore.
03-27-09, 03:59 PM
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Re: Charter Communications-The Worst of the Worst
The thing with Charter, as with many large companies, is that you have to play hardball. When they threatened raising my cable to $128, I kept threatening cancellation and called daily talking to new CSRs. Finally one day a nice one offered me the same package of phone/cable/Internet for $77/month. Heck of a deal for all three. But man, I feel sorry for the regular Joe who thinks he has no other alternative than to accept their "special" prices.
The thing is, though, I would have canceled had they not given me a good deal. You have to be willing to cut them off if need be.
The thing is, though, I would have canceled had they not given me a good deal. You have to be willing to cut them off if need be.
