A Long, Drawn Out Ending
Charter vanished from Jacksonville's headlines and former employees found positions at other businesses when the bankruptcy was discharged in 1988. Carl Lindner's American Financial Corporation, which owned 53% of Charter's stock, moved the company from Jacksonville to Cincinnati, Ohio.
In early 1992, Charter announced an agreement to sell all remaining oil operations in a management buyout. That transaction left Charter with one business, an 82% stake in Spelling Entertainment, the television production company that produced over a dozen popular drama series.
Entertainment giant Viacom purchased the last remaining asset in 1999.
Current-day American cable company Charter Communications is completely unrelated to Charter Company.
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