Cable Giants Cleared to Buy Systems of Adelphia
The cable TV market in Los Angeles is poised for a radical makeover after federal regulators Thursday approved the sale of Adelphia Communications Corp. to Time Warner Inc. and Comcast Corp., the Los Angeles Times reports. Time Warner will become Southern California’s largest cable TV provider under the deal, acquiring Adelphia’s 1.2 million subscribers in the region along with 500,000 from Comcast in a complicated swap of assets arising from Adelphia’s collapse into bankruptcy in 2002 amid an accounting scandal.
