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Technology Stocks : Charter Communications (CHTR)

CHTR 239.23

-1.0%

1:15 PM EDT

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To: Glenn Petersen who wrote (2357)	9/4/2003 9:58:23 AM
From: zax	Read Replies (1) of 2437

Stocks to watch Thursday: SAN FRANCISCO (CBS.MW) -- Paul Allen's Charter Communications said after the market closed Wednesday that it has agreed to sell certain cable TV systems to privately held Atlantic Broadband for $765 million in cash. St. Louis-based Charter (CHTR: news, chart, profile) is the nation's third-largest cable operator. Shares rose 14 cents to $4.50 in after-hours trading on the Island ECN. The systems serve about 235,000 customers in Florida, Pennsylvania, Maryland, Delaware, New York and West Virginia. The move is Charter's latest in its efforts to get rid of nonstrategic assets and reduce debt, Charter said. Last month, Standard & Poor's Ratings Services upped its credit ratings on Charter and its subsidiary Charter Communications Holdings to "CCC +" from "CC" after the company canceled a bond offering it had planned.

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