Charter Discloses Investment 'Inquiries'; CFO Leaves; Shares Keep Sliding
This story was written by Joseph Weisenthal.
Troubled cable operator Charter (NSDQ: CHTR) disclosed in a filing that its main shareholder, Paul Allen, has received "informal inquiries" regarding a possible investment or transaction. The nature of these inquiries was not specified and their disclosure was tied to the fact that certain interested parties have seen internal info not available to the public. It reminds shareholders that there are no guarantees of a transaction, and the market certainly isn't factoring in some sort of rescue buyshares of Charter are down over 4 percent today to around $.90. This is way below its 52-week high of $4.93 per share. (via stltoday.com)
Separately, the company said that its CFO Jefferey T. Fisher would resign as of April 4, and that he would be replaced on an interim basis by Eloise Schmitz, who has been with the company since 1998. No particular reason was offered for Fisher's resignation. Statement.
By Joseph Weisenthal