Exhibit
99.1
NEWS
Charter
Receives Notice Regarding Minimum Bid Price Rule
St. Louis, Missouri, April 18,
2008 – Charter Communications, Inc. (NASDAQ: CHTR) announced today that it
received notice from the Nasdaq Stock Market on April 14, 2008 that its Class A
common stock had closed below $1.00 per share for 30 consecutive business days,
and the Company is therefore not in compliance with Marketplace Rule
4450(a)(5).
In
accordance with Marketplace Rule 4450(e)(2), the Company may regain compliance
if at any time by October 13, 2008, the Company’s Class A common stock closes at
or above $1.00 for 10 consecutive business days and the Company otherwise meets
the Nasdaq’s listing requirements.
If the
Company does not regain compliance by October 13, 2008, the Company may apply
for continued listing on The Nasdaq Capital Market if it meets the
Nasdaq’s
initial
listing requirements other than the minimum price rule at the
time. If approved, the Company will be granted up to an additional
180 calendar days to regain compliance while trading on The Nasdaq Capital
Market.
Neither
the debt covenants applicable to Charter or its subsidiaries, nor its ongoing
operations are directly affected by the Company’s non-compliance with
Marketplace Rule 4450(a)(5) or continued trading on the Nasdaq Global Select
Market.
Charter
is committed to continuing to improve our operating and financial results to
increase value for our shareholders.
About
Charter Communications
Charter
Communications, Inc. is a leading broadband communications company and the
third-largest publicly traded cable operator in the United States. Charter
provides a full range of advanced broadband services, including Charter Digital®
video entertainment programming, Charter High-Speed® Internet access, and
Charter Telephone®. Charter Business™ similarly provides scalable, tailored and
cost-effective broadband communications solutions to business organizations,
such as business-to-business Internet access, data networking, video and music
entertainment services and business telephone. Charter’s advertising sales and
production services are sold under the Charter Media® brand. More information
about Charter can be found at www.charter.com.
# # #
Media: Investors:
Anita
Lamont Marty
Richmond
314-543-2215 314-543-5621