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Charter misses key securities deadline - Broadcasting & Cable

Charter misses key securities deadline

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In its continuing failure to get its act together, Charter Communications Inc.
again blew the deadline for its annual 10-K filing with the Securities and
Exchange Commission.

The cable operator said it is seeking an extension, which typically runs 30
days.

This is the second year in a row the financially troubled MSO has failed to
file on time.

The company said in a prepared statement that the extension is needed to "provide
additional time to finalize its financial statements, related filings,
disclosures and audits" but it did not disclose what kind of disputes with its
auditors existed.

Charter said it expects to make interest payments due on some bonds Tuesday,
plus another payment on some convertible bonds due April 15.

Accordingly, the company will pay the interest on its public debt securities
that is due Tuesday, and it plans to make the interest payment of its
convertible debt April 15.

But it can't draw on any bank facilities until its audited statements are
complete.

A conference call with analysts is scheduled for Tuesday morning.

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