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Charter Communications (post-bankruptcy PE play)
activeTelecom / Cable — Apollo / Oaktree / Various PE creditors
Deal Terms
Entry Year2009
Entry EV$8B
Entry Multiple5x
Leverage6x
Debt Amount$21B
Risk Metrics
LTV (est.)263%
Debt / EV2.63x
Notes
Filed Chapter 11 March 2009 with $21B debt. PE creditors (Apollo, Oaktree) took control in emergence. Liberty Broadband (John Malone) became largest shareholder. Acquired Time Warner Cable for $56B (2016) and Bright House for $10.4B. Now 2nd largest US cable company. PE creditors' distressed bet turned into a cable empire — stock 20x'd from bankruptcy lows.