Charter [CHTR] chief Carl Vogel sought to assure employees that things between the MSO and Paul Allen aren’t nearly as bad as an "uncharacteristically sensational story" in Tues’ The WSJ implied. In a Feb 3 memo obtained by CableFAX Daily, Vogel counters reporter Peter Grant’s "Charter and Controlling Holder Are in A Brawl," which claims relations between Charter’s board and its mgmt team have "started to fray" over securities Allen obtained during the Bresnan acquisition in ’00 (Cfax, 02/04). "I want you to know that nothing could be farther from the truth," Vogel writes in the memo. "Paul Allen remains fully invested in this Company, both personally and financially. He is actively supportive of our efforts to strengthen the balance sheet, and remains fully committed to our success. This is witnessed by almost daily personal interaction with me and others in Charter management in the evaluation and implementation of advanced services to fuel our revenue growth and profitability." The WSJ piece quotes unnamed sources saying Allen won’t invest more capital into Charter or allow it to issue new stock for debt until its performance improves. Vogel concludes by urging employees to "stay above the fray created by newspaper articles like this." Charter would not comment on the memo, other than to say it was not intended for external distribution.

The Daily


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