The Roulette Rebel: Adelphia Wants To Pay Less

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Adelphia Wants To Pay Less

0 comments | Wednesday, January 18, 2006

Adelphia Communications is asking a bankruptcy court to erase more than 3
point 5 billion dollars in claims made against the company.

Adelphia has been operating under Chapter 11 protection since 2002. They
announced the new move in a filing submitted to the Securities and Exchange
Commission on Tuesday.

A hearing has been scheduled for March 1st in Manhattan.

The Chapter 11 plan is based on a deal to sell the majority of its
properties to Time-Warmer and Comcast for 17 point 6 billion dollars in cash
and stock.

Tim Warner says the deal should be closed in the first half of this year.

posted by joshhatcher

at 9:36 AM Permalink

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