8-KMaterial Agreements

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Material Agreement (Nov 3, 2009)

Filed November 3, 2009For Securities:CHTR

Summary

This 8-K filing from Charter Communications (CHTR) on November 3, 2009, provides a crucial update regarding its Chapter 11 bankruptcy proceedings. The company, which filed for protection on March 27, 2009, has amended its Restructuring Agreements with noteholders and its primary shareholder, Paul G. Allen. These amendments extend the termination deadline for the pre-arranged joint plan of reorganization to November 12, 2009, from the previous deadline of November 2, 2009. This extension is significant for investors as it indicates continued progress, albeit with a slight delay, in finalizing the company's restructuring plan. The ability to meet this revised deadline will be critical for Charter's emergence from bankruptcy and the subsequent recapitalization of the company. Investors should closely monitor developments related to the effectiveness of the Plan, as it will directly impact the company's future financial structure and shareholder value.

Key Highlights

  • 1Charter Communications remains in Chapter 11 bankruptcy proceedings as of October 30, 2009.
  • 2The company entered into a Fourth Amendment to its Restructuring Agreements with noteholders and Paul G. Allen.
  • 3The deadline for the effective date of the Plan of Reorganization has been extended to November 12, 2009.
  • 4This extension pushes the previous termination deadline of November 2, 2009, back by 10 days.
  • 5The Restructuring Agreements are subject to termination if the Plan's effective date does not occur by the new deadline.
  • 6The forms of these amendments are available at www.kccllc.net/charter.

Frequently Asked Questions

The main purpose of this 8-K filing is to report an amendment to Charter Communications' Restructuring Agreements, which extends the deadline for the effectiveness of its Plan of Reorganization in the ongoing Chapter 11 bankruptcy case.

No, as of the filing date of October 30, 2009, Charter Communications is still operating under Chapter 11 bankruptcy protection. This filing relates to progress and adjustments in their reorganization plan.

The new deadline signifies that all parties involved in the Restructuring Agreements (noteholders and Paul G. Allen) have agreed to postpone the final date by which the Plan of Reorganization must become effective. If the Plan is not effective by November 12, 2009, the Restructuring Agreements may be terminated.

The forms of the Fourth Amendment to the Restructuring Agreements are available for public viewing at the website www.kccllc.net/charter.