Charter Communications HistoryCommunication Charter History
In addition, it offers broad-band communications capabilities such as wireless network connection, wireless network infrastructure, fibre optic connections to mobile masts and offices, as well as home movies and corporate phone service under the Charter Bus ness label for commercial and freight forwarding companies. Established on July 22, 1999, Charter Communications is based in Stamford, CT."
Founded in 1993 by Barry Babcock, Jerald Kent and Howard Wood, former Zencom Cable Television executive officers in St. Louis, Missouri, Charter Communications was formed by the two former directors. Charter in 1995 payed approximately $300 million for a majority stake in Crown Media and purchased Cable South. Charter and EarthLink teamed up in 1997 to provide Charter in California clients with high-speed wireless connectivity via residential gateway.
$2.8 billion to buy the Dallas-based Marcus Cable wire group. In 1998 Charter Communications had 1 million clients. During November 1999, the firm went publicly traded and was listed on the NASDAQ Exchanges. In 1999 Charter made more than ten large acquisitions: 68,000 new clients in Southern California through the acquisition of four wire harnesses from American cable Entertainment of Stamford, Connecticut.
Acquisition of 400,000 InterMedia Partners subscription customers, mainly in the Southeast. Within the framework of the transaction, Charter would hand over approximately 140,000 of its customers to TCI in the form of a replacement cabling system. Purchased wiring harnesses for 460,000 participants from Rifkin Acquisition Partners and InterLink Communications. Acquisition of 173,000 subscription customers, primarily in the center of Massachusetts, from New Jersey-based Greater Media Inc.
Acquisition of Renaissance Media Group, a New York media group with 130,000 clients near New Orleans, West Mississippi, and Jackson, Tennessee. Acquisition of Helicon Cable Communications in New Jersey. Some 171,000 clients in eight countries in the southeast and northeast were serviced by the system. Acquisition of Avalon Cable TV with 260,000 new clients, mainly in Michigan and Massachusetts.
Acquisition of Vista Broadband Communications in Smyrna, Georgia, with 30,000 additional clients. Acquisition of Falcon Cable TV from Los Angeles. It was the 8th biggest U.S. CATV network provider with approximately one million users in 27 states, mainly in non-urban areas. Purchased from Fanch Communications Inc. in Denver. Fans had 547,000 subscription holders in West Virginia, Pennsylvania, Michigan, Indiana, Kentucky, Louisiana and Wisconsin.
charter also began exchanging clients with other regimes to enhance the geographical clusters of its regimes. A Memorandum of Understanding was entered into in December 1999 with AT&T Corporation in exchange for 1. Three million CAT operators in St. Louis, Alabama, Georgia and Missouri. Charter Communications purchased selected AT&T stores in 2000, such as Reno, Nevada and the city of St. Louis.
MSN and Charter entered into an arrangement in 2001 to provide MSN contents and MSN service to Charter's broad-band subscribers. That same year of the Year Charter Auszeichnungen, darunter den Outstanding corporate Growth Awards der Association for 160 Growth, den R.E. "Ted" Turner Innovator of the Year Awards der Southern Cable Telecommunications Association et den Fast 50 Award for Growth der St. Louis Regional Chamber and Growth Association.
The United States Department of Justice conducted an audit of the firm in 2002, which resulted in the prosecution in 2005 of four former senior officers for incorrect accounting, primarily related to consumer wire rate inflation, in order to enhance financials. Charter filed a class-action suit in 2004 alleging dubious accounting in connection with the U.S. Department of Justice inquiry in 2002 and ensuing charges against four former officers.
$144 million and a charter arrangement to sustain and enforce appropriate standards of good business conduct have been granted to existing and former stockholders (and their attorneys). Charter resolved a $18 million collective bargaining suit in June 2010 for compensation and hourly leave entitlements for present and former sales force engineers in California, Missouri, Michigan, Minnesota, Illinois, Nevada, Washington, Oregon, and Nebraska. In December 2013, Steelhead Licensing LLC brought a suit for infringement of U.S. patent 8082318.
During 2008, it purchased from Wave Broadband the Cerritos and Ventura, California area Cerritos and Ventura TV cables and services business. In 2008, too, the charter portfolio did not conform to the NASDAQ standard and was warned or requested to be extended by 13 October. Charter in February 2013 reconfirmed the acquisition of the former Optimum West cabling system held by Cablevision Corp.
A $1.6 billion agreement led charter cables to 375,000 clients in the Colorado and Western Slope Hills as well as Utah, Wyoming and Montana. Charter Communications in February 2009 stated that it plans to submit the United States Bankruptcy Code on or before April 1, 2009, Section 11.
This measure would allow the Charter to repay its debts and waive its commitments to stockholders. Apollo Management, a privately held stock corporation, assumed that it would hold most of Charter's stock after the collapse. The charter was submitted on 28 March 2009 for a previously agreed insolvency. However, the corporation expects the fiscal reorganization to cut its debts by $8 billion, as well as $3 billion in new investments and the funding of other debts.
On that date, the Charter came out of insolvency, although many of its lenders had objected to its insolvency scheme. Paul Allen resigned as President and CEO in 2010, but remained the biggest individual investor. This year Charter also entered into a multi-year contract with Tivo to provide contents via its website.
The Charter Class A ordinary share was newly quoted on NASDAQ under the CHTR sign on 14 September 2010. Charter on February 8, 2013 signed an acquisition contract for the former Bresnan Communications Systeme in Montana, Wyoming, Colorado and Utah from Cablevision in a US$1.63 billion deal. Charter Communications said on 13 January 2014 that it was interested in purchasing its major competitor Time Warner Cable.
Following three prior efforts to acquire and amalgamate the business, Charter CEO Thomas Rutledge in an open memorandum to Time Warner Cable CEO Robert Marcus wrote: "I believe we have a significant chance to put our businesses together to deliver maximal long-term value for our stockholders and our people.