They Must Have Read That Times Piece, Too
By | February 6, 2004
A group of equity holders in Adelphia called for the MSO to be sold off altogether. The Equity Committee filed a motion in US Bankruptcy Court—a stone’s throw from where the Rigas criminal trial is slated to begin—seeking to terminate the MSO’s exclusive periods to file a reorg plan, thus enabling the EC to submit its Chapter 11 plan, which would unload the company. Adelphia could command up to $24bln on the open market, although few have the cash and desire to make such a purchase. Paul Kagan sees TW Cable, Cox and Comcast as buyers, although we can’t see the feds letting Comcast make any more big purchases soon. Adelphia has until Feb 17 to file its reorg plan.
