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.

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