Wednesday, October 17, 2018

Paul Allen Dies

Microsoft co-founder and former Charter Communications
chairman Paul Allen died Monday in Seattle. He was 65
years old and the cause was complications of non-Hogdkin's
lymphoma.

This was Allen’s third battle with cancer. He retired from
Microsoft in 1982 after being diagnosed with Hodgkin's
lymphoma, from which he later recovered. In 2009, Allen
said he had non-Hodgkin's lymphoma, which he later beat
after chemotherapy treatment. But on Oct. 1, Allen said
the disease had returned.

He burst on the cable scene in 1998, purchasing Marcus
Cable and then Charter Communications, deals that laid
the groundwork for Allen’s “Wired World” strategy. What
followed was a flurry of transactions – among them Bresnan
Communications, Falcon Cable and Avalon Cable – that
vaulted Charter to the upper echelons among cable
operators across the country.

But those deals significantly increased Charter’s debt load
– at one point it was among the highest leveraged operators
in the industry. Allen stepped down as chairman in 2009,
shortly after the company emerged from bankruptcy

He stepped further back from Charter in 2011, reducing his
holdings in the cable company and focusing on his other
tech holdings via his personal investment vehicle Vulcan Inc.,
and interests including ownership of the NFL Seattle

Seahawks and the NBA Portland Trailblazers.

No comments:

Post a Comment