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Blazers Owner Paul Allen Stripped Of Power At Charter Communications

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Portland Trail Blazers owner Paul Allen has dumped untold piles of money into Chapter 11'ed cable company Charter Communications. BizJournals.com reports that the company's board has now voted to drastically reduce Allen's voting interest... ----------------------------- Charter Communications Inc.’s board voted to convert all 2,241,299 shares of Class B common Charter stock held by former Chairman Paul Allen, co-founder of Microsoft and owner of the Portland Trail Blazers, into the same number of shares of Charter's Class A common stock. With the move, which was effective Tuesday, Allen loses his 35 percent voting interest that was associated with the Class B shares, as well as his right to appoint four directors to the board. His interest in the broadband company is now about 2 percent. ----------------------------- In other Blazers/cable related news, Mike Rogoway of The Oregonian reports that Comcast's merger with NBC isn't likely to affect the distribution of Blazers games. -- Ben Golliver | benjamin.golliver@gmail.com | Twitter

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