Optimum Communications Reportedly Nears Debt Restructuring Deal With Lenders

05:21 AM EDT, 10/21/2026 (MT Newswires) -- Optimum Communications (OPTU) is nearing a debt restructuring deal that would give lenders control of the US broadband provider and resolve ongoing litigation, media outlets reported late Tuesday, citing unnamed people familiar with the matter. The company and its controlling shareholder, Patrick Drahi, have been negotiating with lenders over his ownership stake in the restructured business, Bloomberg said. The gap between Drahi's demands and creditors' offers has narrowed, though talks remain ongoing and final terms could still change, the reports said. Meanwhile, the proposed deal would give equity in Optimum to lenders, including Apollo Global Management (APO), Oaktree Capital and JPMorgan Chase (JPM), the reports said. Optimum did not immediately respond to MT Newswires' request for comment.