Comcast, Time Warner Revise Adelphia Deal
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Comcast Corp. and Time Warner Cable have signed revised agreements to buy the assets of bankrupt cable operator Adelphia Communications Corp., clearing the way for a deal that would strengthen their hold as the nation’s two largest cable operators, according to the Wall Street Journal’s website.
Adelphia said the deal awaited the approval of the U.S. Bankruptcy Court on Tuesday. Comcast and Time Warner Cable entered into revised agreements to bypass creditor disputes that threatened to derail the deal.
The revised agreement reflects a 4% decline in the value of the deal, which originally was valued at $17.6 billion.
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