Skip to main content

InvestorsMarch 30, 2009

Charter Communications Announces NASDAQ Delisting Notification

Share Article:

ST. LOUIS, March 30 /PRNewswire-FirstCall/ -- Charter Communications, Inc. (Nasdaq: CHTR) ("Charter," the "Company") announced that the NASDAQ Stock Market ("NASDAQ") on March 27 notified the Company that NASDAQ will suspend and delist trading of the Company's common stock on the NASDAQ Stock Market, effective with the open of business on April 7, 2009. The notice follows the Company's announcement that it has commenced the next phase of its previously announced financial restructuring by filing its pre-arranged plan of reorganization and Chapter 11 petitions in the United States Bankruptcy Court for the Southern District of New York. The Company does not intend to appeal NASDAQ's delisting decision and expects that its common stock will be quoted on the OTC Bulletin Board or in the "Pink Sheets" effective April 7, 2009, but there is no assurance as quotes on the "Pink Sheets" are dependent upon the actions of third parties.

About Charter Communications

Charter Communications, Inc. is a leading broadband communications company and the fourth-largest cable operator in the United States. Charter provides a full range of advanced broadband services, including advanced Charter Digital Cable(R) video entertainment programming, Charter High-Speed(R) Internet access, and Charter Telephone(R). Charter Business(TM) similarly provides scalable, tailored, and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, video and music entertainment services, and business telephone. Charter's advertising sales and production services are sold under the Charter Media(R) brand. More information about Charter can be found at

Cautionary Statement Regarding Forward-Looking Statements:

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under "Risk Factors" from time to time in our filings with the Securities and Exchange Commission ("SEC"). Many of the forward-looking statements contained in this release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "plans," "will," "may," "intend," "estimated," "aim," "on track," "target," "opportunity" and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this release are set forth in other reports or documents that we file from time to time with the SEC, including our quarterly reports on Form 10-Q filed in 2008 and our most recent annual report on Form 10-K, and include, but are not limited to:

    --  the completion of the Company's restructuring including the outcome
        and impact on our business of the proceedings under Chapter 11 of the
        Bankruptcy Code;
    --  the ability of the Company to satisfy closing conditions under the
        agreements-in-principle and Pre-Arranged Plan and related documents
        and to have the Pre-Arranged Plan confirmed by the bankruptcy court;
    --  the availability of and access to, in general, funds to meet interest
        payment obligations under our debt and to fund our operations and
        necessary capital expenditures, either through cash on hand, cash
        flows from operating activities, further borrowings or other sources
        and, in particular, our ability to fund debt obligations (by dividend,
        investment or otherwise) to the applicable obligor of such debt;
    --  our ability to comply with all covenants in our indentures and credit
        facilities, any violation of which, if not cured in a timely manner,
        could trigger a default of our other obligations under cross-default
    --  our ability to repay debt prior to or when it becomes due and/or
        successfully access the capital or credit markets to refinance that
        debt through new issuances, exchange offers or otherwise, including
        restructuring our balance sheet and leverage position, especially
        given recent volatility and disruption in the capital and credit
    --  the impact of competition from other distributors, including incumbent
        telephone companies, direct broadcast satellite operators, wireless
        broadband providers, and digital subscriber line ("DSL") providers;
    --  difficulties in growing, further introducing, and operating our
        telephone services, while adequately meeting customer expectations for
        the reliability of voice services;
    --  our ability to adequately meet demand for installations and customer
    --  our ability to sustain and grow revenues and cash flows from operating
        activities by offering video, high-speed Internet, telephone and other
        services, and to maintain and grow our customer base, particularly in
        the face of increasingly aggressive competition;
    --  our ability to obtain programming at reasonable prices or to
        adequately raise prices to offset the effects of higher programming
    --  general business conditions, economic uncertainty or downturn,
        including the recent volatility and disruption in the capital and
        credit markets and the significant downturn in the housing sector and
        overall economy; and
    --  the effects of governmental regulation on our business.

All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. We are under no duty or obligation to update any of the forward-looking statements after the date of this release.


    Anita Lamont, 314-543-2215
    Charter Communications, Inc.

    Andy Brimmer / Sharon Stern
    Joele Frank, Wilkinson Brimmer Katcher


    Mary Jo Moehle, 314-543-2397
    Charter Communications, Inc.

SOURCE  Charter Communications, Inc.

    -0-                           03/30/2009
    /CONTACT:  Media, Anita Lamont, +1-314-543-2215, Charter Communications,
Inc.; or Andy Brimmer or Sharon Stern, Joele Frank, Wilkinson Brimmer Katcher,
+1-212-355-4449; or Analysts, Mary Jo Moehle, +1-314-543-2397, Charter
Communications, Inc./
    /Web Site: /

CO:  Charter Communications, Inc.

ST:  Missouri

-- NY91416 --
1416 03/30/2009 18:40 EDT