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.

Link to the original article…

Charter Communications continues to battle with the companies lenders, who are trying to prevent the bankrupt cable company from exiting bankruptcy so they can appeal a court ruling approving the reorganization. Creditors have been fighting against Charter’s reorganization plan all summer and fall, primarily because they don’t like the pre-bankruptcy interest rates agreed to in the deal. “Hundreds of millions of dollars of additional interest and would put at peril the entire plan,” Charter attorneys claim in court filings.

Last week Charter executives indicated that a post-bankruptcy Charter would explore price hikes and metered billing for the company’s customers.

Link to the original article…