Charter Communications, acting in advance of a likely restructuring and a possible bankruptcy filing, has eliminated an executive cash award plan and changed other bonus compensation programs. The St. Louis-based cable TV player took steps last month to attempt to restructure its debt, a move that many observers believed could lead to a pre-packaged bankruptcy filing.
Charter has been highly leveraged for some time and always seems to be a step away from making a major decision about its financial future. At one point within the last year or so, it looked like the company could be privatized or sold. Still, Charter showed growth toward the end of last year.
- Multichannel News has this report
Charter said last month it was evaluating financial options
Charter appeared to be exploring deals back in 2007