By: Luke Bouma
Optimum Communications, the U.S. broadband provider controlled by billionaire Patrick Drahi, is advancing preparations for a Chapter 11 bankruptcy filing that could arrive before the end of 2026. The filing would implement a restructuring agreement under discussion with creditors, transferring control of the company away from Drahi and addressing a debt burden of roughly $26 billion along with billions of dollars in maturities that approach in the near term, according to The Wall Street Journal. Optimum is the 5th largest provider of traditional Cable TV in the United States.