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Article: Charter Stabilizes; Troubled MSO Cuts Losses, Aims for Possible Turnaround.(TV Currents)
- Article from:
- TelevisionWeek
- Article date:
- May 12, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jay Sherman
Charter Communications is still bleeding red ink, but the troubled cable system operator finally appears to have stabilized and may even be on the verge of a turnaround.
To be sure, the St. Louis-based company, cobbled together by Paul Allen at a cost of more than $7 billion as part of a vision for a wired world, still has a long way to go. But there is reason for hope. Charter continues to labor under a $20.5 billion debt and faces SEC and federal probes for accounting shenanigans. But Charter is taking steps to right itself-and the efforts are drawing mild praise from some analysts.
Last week Charter, the nation's ...