Charter Discloses Investment ‘Inquiries’; CFO Leaves; Shares Keep Sliding
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 buy — shares 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.
I'll tell you why he resigned… its simple really, he's obviously not worth the millions Charter has paid him as he's ran us into he ground, and he wants us all to know that he will be making four times as much at his next company after ruining Charter.