Adelphia’s Ron Cooper is entitled to receive a cash payment of up to $6.8mln on Wed for his work in guiding the MSO’s sale to Comcast and Time Warner, says an SEC filing. If the board determines that his performance was exemplary, he could receive an additional $3.4mln. Cooper is prevented for 1-year from going to work for Qwest, Verizon, BellSouth, AT&T, any DBS, MSO or DSL provider in the continental US and/or Puerto Rico that has a service area overlapping 10% or more of the company’s service area. Meanwhile, Adelphia said it posted 2Q net income of $1.2bln, up from $1.1bln a year ago. — "Ojo" videophone maker WorldGate completed a deal for up to $11mln of convertible debenture financing with Cornell Capital-the largest investment by a single investor in the company’s history. WorldGate received $6mln at the closing of the deal.

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