Time Warner, Comcast Complete Adelphia Acquisition

GREENWOOD VILLAGE, August 1: Time Warner Cable and Comcast
Corporation have completed their $17-billion acquisition of bankrupt cable
platform Adelphia Communications Corporation.

Adelphia’s subscribers will now be distributed between the
new owners, with Time Warner taking 3.3 million and Comcast taking 1.7 million.
In addition, about 13,000 Adelphia employees will transfer to Time Warner Cable
and Comcast. The deal consisted of $12.5 billion in cash and about 16 percent
of Time Warner Cable equity.