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Charter Exits Chapter 11 $8 billion less in debt
In: broadbandreports.com|Communication|Computer|Finances|Internet|Networks|Site Feeds|Software
30 Nov 2009
Despite the best efforts by creditors who didn’t like the bankruptcy conditions, Charter Communications has announced that the company has exited Chapter 11 after filing for bankruptcy back in March of this year. The bankruptcy process and reorganization eliminated about $8 billion of Charter’s $21 billion debt load. According to Charter CEO Neil Smit, the bankruptcy will help the company to “remain focused on further enhancing the customer experience.”
Unfortunately for Charter, a lousy customer experience is one of the major reasons the company went bankrupt in the first place. Charter consistently coming in last place in nearly every survey that measures customer satisfaction among ISPs and TV operators.
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