Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Concurrent Computer (CCUR) -- Ignore unavailable to you. Want to Upgrade?

To: Christiaan McDonald who wrote (17782)	5/9/2002 10:09:29 AM
From: Don Hand	Read Replies (1) \| Respond to of 21142

Adelphia Puts 2.75M Subs on Block By Steve Donohue Multichannel News 5/8/2002 10:06:00 PM Adelphia Communications Corp. officially put the for-sale sign on systems serving 2.75 million subscribers, or one-half of its entire subscriber base. The MSO said late Wednesday that its board authorized Salomon Smith Barney, Credit Suisse First Boston and Banc of America LLC to solicit offers for its systems in Southern California (1.2 million subscribers), Florida (750,000), Virginia (575,000) and the Southeast (225,000 subs). 'We are ready to solicit formal bids. Based on the many informal expressions of interest we have received in recent weeks ... I am confident that the steps we are taking will enable us to achieve our objectives of reducing debt, deleveraging our balance sheet and creating a stronger Adelphia,' chairman John Rigas said in a prepared statement. Adelphia stock has plummeted since the MSO revealed more than $2.3 billion in off-balance-sheet debt in March. It faces a possible NASDAQ delisting for failing to file a 10-K with the Securities and Exchange Commission, as well as many shareholder lawsuits. Adelphia said there can be no assurance that a solicitation of offers would lead to actual sales.