Time Warner Inc. and Comcast Corp. have reached a tentative agreement to buy the cable TV company Adelphia Communications Corp. for nearly $18 billion, according to newspaper reports.
The two companies agreed in principle to buy bankrupt Adelphia for between $12 billion and $13.5 billion cash in addition to between $4.5 billion and $5.6 billion in stock in a company that would be created out of Adelphia and Time Warner’s cable unit, The Wall Street Journal and The New York Times reported in Friday’s editions.
