Charter Emerges From Chapter 11 Bankruptcy Protection
Charter Communications said Monday that it has completed its restructuring and has emerged from bankruptcy protection, ending an eight-month process.
Charter filed for bankruptcy protection on March 27, reaching agreement with the majority of its bondholders on a plan that would shave $8 billion in debt from the company's books and pump about $3 billion of new equity into the company.
In a statement, Charter said that it has successfully emerged from bankruptcy and that it would issue a new stock no earlier than 45 days after emergence. That would put the earliest date for a new stock offering sometime after Jan. 14.
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