said late Tuesday it plans to sell $3 billion of senior notes to raise cash for fees and expenses and general corporate purposes – the latest major media company to tap the debt market for a cash cushion in the midst of the corovirus pandemic.
Disney raised $6 billion selling debt securities last month . Fox sold $1.2 billion worth of senior notes, Comcast $6 billion and ViacomCBS $2.5 billion. Charter said it will offer two tranches of senior notes, for $1.6 billion and $1.4 billion.
It noted however that it’s continued to deliver services uninterrupted by the pandemic despite a significant increase in network activity from the private and public response to COVID-19. It said a 60-day free Internet offer for new customers with students or educators in the household generated 119,000 new Internet accounts in March. New connects for residential Internet services, excluding the free offer, were also up in March year-over-year.
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