Time Warner, Comcast complete Adelphia deal
Mon Jul 31, 9:19 PM ET
by dbmaven 12:58AM Tuesday Aug 01 2006
NEW YORK (Reuters) - Time Warner Inc. (NYSE:TWX) and Comcast Corp. (Nasdaq:CMCSA) said on Monday they completed a deal to buy the assets of bankrupt cable operator Adelphia Communications Corp. (Other OTC:ADELQ) valued at around $17 billion.
Time Warner's cable unit will take on 3.3 million Adelphia subscribers, bringing its total to 14.4 million, while Comcast will take on 1.7 million Adelphia subscribers, meaning it will have a total of 23.3 million subscribers.Full Story