How to pay for your charter internet bill? This is a good one
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Charter Internet, the parent company of Internet.com, Inc., has shut down all of its sites in anticipation of the federal government shutdown, the company said in a statement Friday.
Charter Internet has reported a record net loss of $1.6 billion for the fourth quarter of 2017, the most since 2010.
Charter said the shutdown was the result of “a concerted effort by government to stifle innovation and competition in the telecommunications industry.”
The company said it is working with state and local governments to re-establish Internet.
“Charter’s goal is to provide the best possible service for our customers and continue to operate in the public interest,” the company’s statement read.
“Our customers are disappointed in our continued failure to maintain their trust, and we are working with regulators to help address this problem.”
The shutdown, which began Thursday and will last until Friday, has been described by some as a “full-frontal assault” by the Federal Communications Commission.
The FCC has said the move is necessary to prevent “a repeat of the Internet blackouts of the 1990s” and to protect net neutrality, the principle that all content should be treated equally by internet service providers.
The blackout will affect about 70 percent of the US Internet market, including nearly 10 million charter customers.
Charter has been working with the FCC to make the re-opening of Internet available to customers.
The company has previously said it plans to resume operations on Monday, according to the company.
Charter is the nation’s second-largest provider of Internet access services, according the company, with more than 2.4 million customers.
For the fourth-quarter period, Charter posted net profit of $2.2 billion.
Charter’s stock fell $2 to $38.84 in after-hours trading on Friday.
The shutdown was announced Thursday in a letter sent to its shareholders, as part of a regulatory filing with the Securities and Exchange Commission.
“We cannot take our business as a public company into the dark without a clear plan to ensure that we have the capacity to restore our financial strength,” the letter read.
In a statement, Charter said it had no immediate comment on the FCC’s actions.
“As a result of the FCC announcement, Charter is closing all of our websites to the public and will suspend all of Charter’s Internet service until further notice,” the statement read, adding that Charter’s customers were encouraged to cancel their accounts as a precaution.
The closures are expected to have a ripple effect throughout the US, including some of Charter-owned businesses, such as the Boston Red Sox.
The city of Boston is also working to reopen schools, which will be affected by the shutdown.
Boston Mayor Marty Walsh, a Democrat, has said that the city has no plans to reopen before the shutdown ends.
Charter Internet, the parent company of Internet.com, Inc., has shut down all of its sites in anticipation of the federal…