Paul Allen may buy all of CharterThe co-founder of Microsoft and majority owner of the debt-laden cable company also considers a merger.NEW YORK (CNNMoney.com) -- Charter Communications chairman and controlling shareholder Paul Allen said he's considering buying the remaining outstanding stock in the troubled cable company, according to a report Wednesday. Allen, a Microsoft (Charts, Fortune 500) co-founder, also said he is considering recapitalization and restructuring for the St. Louis-based company, the Wall Street Journal reported. Charter (Charts, Fortune 500) lost $360 million in the latest quarter and had $19.6 billion in debt, the Journal said. The company has a market capitalization of just over $1 billion. Allen, who holds a 52 percent stake in the company and controls 92 percent of its voting power, said he may also consider asset sales, a merger or other transaction, the Journal said. The company fell behind its competitors in the 1990s due to a heavy debt load, but has held on to subscribers and grown revenue in the last few years, the article said. |
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