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Article: Adelphia Business Solutions Announces Significant Capital Spending Reductions, $125 Million Planned Asset Sales To Adelphia Communications, Its Parent Company, And Revised Financial Guidance.
- Article from:
- PR Newswire
- Article date:
- September 5, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. 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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- Company announces capital spending reductions of $210 million through
2002 with additional annual capital spending reductions of $120
million per year thereafter;
- Adelphia expected to buy $125 million in CLEC assets during 2001;
- Company estimates reduction in unfunded free cash flow deficit to a
pro forma range of $80 million to $280 million for period 7/01/01
through 12/31/03.