Cablevision in debate

Cabler seeks to swap debt for cash, equity, lower interest bonds

BUENOS AIRES — A judge has ordered Cablevision, Argentina’s biggest cabler, to reconvene creditors to vote on its offer to restructure $797 million in debt after a counting error discredited the first attempt in March.

Vote date will be announced soon.

The cabler is seeking two-thirds approval for its offer to swap outstanding debt for cash, equity and lower interest bonds. Creditors could gain 20% of the company; control would remain with Liberty Media and Hicks, Muse, Tate & Furst.

Cablevision defaulted on the debt — amassed in the 1990s to build Argentina’s largest cable network — after a 2001 economic collapse cut revenue and tightened access to credit.

The restructure is key to the company’s efforts to regain the 18% of its subscribers that abandoned the service between 2001 and 2003.

More TV

  • Ryan Murphy Pose

    Ryan Murphy on 'Showrunning As Advocacy' and the Post-Me Too 'Age of Enlightenment'

    BUENOS AIRES — A judge has ordered Cablevision, Argentina’s biggest cabler, to reconvene creditors to vote on its offer to restructure $797 million in debt after a counting error discredited the first attempt in March. Vote date will be announced soon. The cabler is seeking two-thirds approval for its offer to swap outstanding debt for […]

  • Teenage Mutant Ninja Turtles Virtual reality

    Nickelodeon's 'Teenage Mutant Ninja Turtles' Go Virtual at Comic-Con

    BUENOS AIRES — A judge has ordered Cablevision, Argentina’s biggest cabler, to reconvene creditors to vote on its offer to restructure $797 million in debt after a counting error discredited the first attempt in March. Vote date will be announced soon. The cabler is seeking two-thirds approval for its offer to swap outstanding debt for […]

  • Destan Arslanoski Stunt Performer

    Stunt Performers Say There's Not Enough Being Done to Address Risks of the Job

    BUENOS AIRES — A judge has ordered Cablevision, Argentina’s biggest cabler, to reconvene creditors to vote on its offer to restructure $797 million in debt after a counting error discredited the first attempt in March. Vote date will be announced soon. The cabler is seeking two-thirds approval for its offer to swap outstanding debt for […]

  • Discovery Extends CEO David Zaslav's Contract

    Discovery Extends CEO David Zaslav's Contract Through 2023

    BUENOS AIRES — A judge has ordered Cablevision, Argentina’s biggest cabler, to reconvene creditors to vote on its offer to restructure $797 million in debt after a counting error discredited the first attempt in March. Vote date will be announced soon. The cabler is seeking two-thirds approval for its offer to swap outstanding debt for […]

  • Janina Gavankar

    Eka Darville, Janina Gavankar, Italia Ricci Join North Fork TV Festival Lineup

    BUENOS AIRES — A judge has ordered Cablevision, Argentina’s biggest cabler, to reconvene creditors to vote on its offer to restructure $797 million in debt after a counting error discredited the first attempt in March. Vote date will be announced soon. The cabler is seeking two-thirds approval for its offer to swap outstanding debt for […]

  • Alice Wetterlund

    'Silicon Valley' Actress Calls T.J. Miler a 'Bully,' Cast Members 'Complicit'

    BUENOS AIRES — A judge has ordered Cablevision, Argentina’s biggest cabler, to reconvene creditors to vote on its offer to restructure $797 million in debt after a counting error discredited the first attempt in March. Vote date will be announced soon. The cabler is seeking two-thirds approval for its offer to swap outstanding debt for […]

More From Our Brands

Access exclusive content