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Charter Communications NASDAQ: CHTR is an American company providing cable television, HDTV, cable telephone, DVR, and broadband services over 6.2 million subscribers in 40 states in the United States. It is #3 in the cable television market behind Comcast and Time Warner Cable.

 

 

After being founded in 1993, a series of acquisitions as well as organic growth allowed its subscriber base to reach 1 million customers in 1998, 3.9 million in 1999, and 6.8 million in 2002 (2.3 million of which were digital cable service subscribers and nearly 750,000 broadband Internet service subscribers).

The company was involved in an accounting fraud in 2000/2001 (relating to the inflation of revenue and operating cash flow and cable subscriber numbers) for which four former executives were convicted in 2005. The company had been under financial pressure following a series of acquisitions; its stock peaked at $27.75 per share in November 1999, before falling to under $1 in 2002.

On March 22, 2006, Charter announced that it will sell cable systems serving approximately 43,000 customers in Nevada, Colorado, New Mexico and Utah to Orange Broadband Holding Company, LLC. This is part of Charter's strategy of divesting geographically non-strategic assets.

 
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