Charter CEO plans debt reduction

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According to Dow Jones wire services, Charter Communications Inc. CEO Carl Vogel
said Wednesday that the company plans on cutting its $17.6 billion in debt.

"I plan on reducing debt because the debt is an overhang and a distraction to
... the management team for all the wrong reasons," he reportedly said at the
company's investor conference in St. Louis, which was broadcast over the
Web.

"It would be prudent, and I think the market is telling us in the very near
term, 'You guys ought to think about reducing debt,' so we're thinking about
reducing debt," he added.

Concerns over debt have helped to push shares of Charter -- one of the most highly
leveraged cable companies -- down more than 80 percent this year.

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