Could Charter be the next MSO to go the private route? Controlling shareholder Paul Allen said in a regulatory filing that he’s considering various alternatives, including a going-private transaction in which he could acquire all of Charter’s stock. Other possibilities include recapitalization and restructurings to reduce debt. Allen’s SEC filing updated previous disclosures about potential future actions in regard to Charter. Charter also enacted a shareholder rights plan Tues essentially limiting the ability of shareholders to own more than 5% of its Class A stock without board’s authorization. Analysts agree that this has nothing to do with preventing a hostile takeover of the firm (Allen controls more than 90% of Charter’s vote, after all) and is instead to preserve the MSO’s deferred tax assets. Pali Research’s Rich Greenfield says the plan is designed to prevent triggering of an IRS rule that could negatively impact Charter’s ability to use its $7.1bln of net operating losses. Citigroup called the rights plan a "slight positive… While we’ve always used the gross deferred tax assets in our valuation, today’s development helps ensure that this value is captured by equity holders."

The Daily

Subscribe

Cincinnati Bell, CSG Shake Hands

Cincinnati Bell ’s IT services division has tapped CSG to help with the company’s ongoing digital transformation.

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up

Calendar

Jun 10
The FAXIES Awards – Virtual CelebrationSave the Date! - June 10, 2021
Jul 16
Diversity List – 2021 Nominations Due: July 16, 2021
Sep 10
Most Powerful Women – 2021 Nominations Due: Sept 10, 2021
Dec 7
Most Powerful Women CelebrationSave the Date!
Full Calendar

Jobs

Seeking an INDUSTRY JOB?
VIEW JOBS

Hiring? In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors, The result will be an even more robust industry job board, to help both employers and job seekers.

Contact John@cynopsis.com for more information.