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Article: Pennsylvania-Based Adelphia Communications Adds to Cable Holdings.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 9, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Dec. 9 -- COUDERSPORT, Pa. -- Cable company Adelphia Communications Corp. continued its spate of accquisitions yesterday, announcing it would buy cable operations in the Cleveland area from Cablevision Systems Corp. for $1.53 billion in cash and stock.
The acquistion is the fourth in the past year by Adelphia, now the country's sixth-largest cable operator, and means the company will have more than doubled in size in that period.
Yesterday's deal will add 306,000 subscribers in the Cleveland and Great Lakes region for Adelphia, bringing its total to about 1.3 million subscribers in this area, which stretches ...