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Technology Stocks : Charter Communications (CHTR) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (2357)	7/25/2003 5:08:39 PM
From: The O	Read Replies (1) \| Respond to of 2437

somebody cut a deal for himself! Former Charter exec pleads guilty to conspiracy-US July 25, 2003 3:16:00 PM ET WASHINGTON, July 25 (Reuters) - A former Charter Communications Inc. (CHTR) executive, David McCall, pleaded guilty on Friday to a charge he helped scheme to falsely boost the cable operator's subscriber numbers, a U.S. government official said. McCall served as a senior vice president at the No. 3 cable company and was indicted on a charge of conspiracy to commit wire fraud for his role in a 2001 ploy to boost the numbers by not disconnecting subscribers or not removing them from the books until after a reporting period had ended. "Mr. McCall acknowledged in court today that he participated in a conspiracy to defraud Charter stockholders," U.S. Attorney Raymond Gruender in St. Louis said in a statement. "We are very pleased to obtain his cooperation as we proceed with this prosecution." Charter's former Chief Financial Officer Kent Kalkwarf and former Chief Operating Officer David Barford were indicted on Thursday on charges of artificially boosting the company's operating cash flow and revenue as well as subscriber numbers. Former Charter Senior Vice President James Smith was also indicted in the scheme involving false subscriber numbers. Lawyers for Kalkwarf, Barford and Smith have said their clients are innocent of the charges. Charter, which is controlled by Microsoft co-founder Paul Allen, ended up releasing inflated subscriber figures to investors for three quarters in 2001, according to the indictment. McCall could face up to five years in jail and a $250,000 fine. His lawyer David Harlan declined to comment. Securities regulators have been investigating Charter's books for months and the company has disclosed that it had overstated revenue and cash flow for 2000, 2001 and the first three quarters of 2002. The company was ultimately forced to borrow $300 million from Allen, who serves as the company's chairman, to meet its credit arrangements. Shares of St. Louis-based Charter were down 5 cents, or 1.05 percent, to $4.73 in afternoon trading on the New York Stock Exchange. REUTERS

To: Glenn Petersen who wrote (2357)	9/4/2003 9:58:23 AM
From: zax	Read Replies (1) \| Respond to 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.