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Charter exits bankruptcy

By St. Louis Public Radio

St. Louis – St. Louis-based Charter Communications has emerged from bankruptcy.

A federal judge in New York approved the cable and Internet company's plan November 17th. It allowed the company to shave more than $8 billion off a $21 billion debt that accumulated as Charter bought up smaller companies and upgraded its service to compete. The company has reported a loss every year since going public in 1999.

In a statement, Charter president Neil Smit called the successful restructuring a "significant accomplishment" that makes the company stronger.