Comcast, TimeWarner Complete $17 Billion Adelphia Deal

By reports, and wire | Tribune-Review/Pittsburgh Tribune-Review, August 1, 2006 | Go to article overview

Comcast, TimeWarner Complete $17 Billion Adelphia Deal


reports, and wire, Tribune-Review/Pittsburgh Tribune-Review


Comcast Corp. and Time Warner Inc. said Monday they completed a deal to buy the assets of bankrupt cable operator Adelphia Communications Corp., valued at around $17 billion. Time Warner's cable unit will take on 3.3 million Adelphia subscribers, bringing its total to 14.4 million, while Comcast will take on 1.7 million Adelphia subscribers, meaning it will have a total of 23.3 million subscribers. Time Warner and Comcast will pay $12.5 billion in cash and Time Warner Cable common stock representing about 16 percent of the equity in Time Warner Cable, in a deal Adelphia said in April was worth $16.9 billion.

Equitable cuts 27 in outsourcing

Equitable Gas Co. has hired a Johnstown company to manage its billing and general customer service calls, a move that will eliminate 27 jobs. The North Shore-based natural gas distributor, part of Equitable Resources Inc., contracted with NCO Co. in March to handle its collections calls, replacing a North Carolina firm. Effective today, NCO will take over billing and service calls. Equitable's contracts could add 55 employees to the company. Locally, Equitable will retain 10 employees in an internal call center in other capacities, and lay off or terminate with severance 27 others, spokeswoman Patricia Kornick said.

Brewer to pay bill

Bankrupt Pittsburgh Brewing Co. will agree to pay Equitable Gas about $20,000 in overdue utility bills, Tracey Perles, a spokeswoman for the Lawrenceville brewery, said Monday. Equitable last month asked U.S. Bankruptcy Judge M. Bruce McCullough to order the brewer to comply with a previous order he had issued directing the funds be paid in weekly installments of $2,500 beginning March 6. A court hearing on the matter is scheduled today. This week, the brewery intends to ask the judge for an extension past Friday of its exclusive right to file a reorganization plan.

More steel mergers

Global steel industry consolidation isn't finished yet, and U.S. Steel Corp. and Nucor Corp. are among the firms most likely to make acquisitions, said a report issued Monday by Standard & Poor's Equity Research Services. Pittsburgh-based U.S. Steel and Nucor have the "financial wherewithal" to make acquisitions and may want to improve and expand capabilities in certain markets, the report said. It identifies Commercial Metals, Quanex Corp. and Steel Dynamics among likely acquisition targets.

Charge for older phones

About 4.7 million Cingular Wireless subscribers with older phones will have to pay $5 extra each month as the company tries to prod them to get new handsets so it can devote its entire network to one type of signal. The new surcharge, unique among the major U.S. carriers, will be added to bills starting in September, the company said Monday. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Comcast, TimeWarner Complete $17 Billion Adelphia Deal
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.