Charter, the only cable television provider in the Athens area, will be filing for Chapter 11 bankruptcy before April 1st.
As part of an agreement with debt holders, they will be paid in full and Paul Allen will maintain the largest voting interest in the company.
Sadly, Athens will likely not see an improvement in service.
Chief Executive Neil Smit says the St. Louis-based company’s cable, Internet and telephone operations will continue throughout the debt restructuring process.
As of this writing, my connection is slower than DSL speed, clocking in at 1.3Mbits per second. This is half the connection speed I paying for.
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Yesterday we cited an anonymous insider at Charter who informed us that the company would very soon be implementing new caps. Today, Charter’s Eric Ketzer confirmed the plans, and informed us that Charter’s new, $140 60Mbps tier will not have any limitations. Speeds of 15Mbps or slower will have a 100GB monthly cap, while 15-25Mbps speeds will have a 250GB monthly cap. “In order to continue providing the best possible experience for our Internet customers, later this month we will be updating our Acceptable Use Policy (AUP) to establish monthly residential bandwidth consumption thresholds,” Ketzer confirms. “More than 99% of our customers will not be affected by our updated policy, as they consume far less bandwidth than the threshold allows,” he says.
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