Last year felt like a saturation bombing of accounting fiascos, from Enron to WorldCom to Adelphia and more.
Adelphia is the nation's fifth-largest cable operator, with 5.3 million customers in 31 states.
Adelphia's debt, already in junk territory, was downgraded another notch in August by Moody's.
In the early 1980s he helped rural cable entrepreneurs, like Adelphia's John Rigas, finance their expansions.
Adelphia's creditors could decide it's more profitable to divide up the company that way.
's cable division buy the assets of bankrupt Adelphia Communications and swap ownership of some areas.
Rather, what he had in mind was his company, Adelphia Communications, now the nation's sixth-largest cable concern.
The Adelphia board was stacked with company insiders who turned a blind eye to self-dealing by company executives.
In Nashville, the Tennessee Titans need a new sponsor for Adelphia Coliseum, now that Adelphia Communications is in Chapter 11 proceedings.
Called TV Gateway, it started rolling out late last year in cable systems operated by Cox, Charter, Adelphia and Comcast.
Before Golisano took charge, the Sabres were owned by John Rigas, founder and chief executive officer of cable giant Adelphia Communications.
One reason is that equity is an especially hard sell for Rigas and his three sons, who hold 30% of Adelphia.
Investors, who have punished the cable industry in general for its delayed rollout of new services, have thrashed Adelphia in particular.
Much of Adelphia's five million-strong customer base may be purchased and divvied up in a joint bid by Comcast and Time Warner.
The sentencing appears to extend a trend that has also resulted in long prison terms for officials at WorldCom and Adelphia Communications.
Adelphia Communications , the No. 5 operator, filed for Chapter 11 in June of 2002, and put itself up for sale this September.
Adelphia is being sold not as one monolithic company, but in seven different pieces, each representing a different geographic chunk of its business.
If a smaller operator like Cablevision hopes to face off with Comcast, Adelphia's five million subscribers could be an important weapon in their arsenal.
Outside attorneys have been dragged into cases against Adelphia Communications (the self-dealing cable outfit), Refco (the commodities trader) and Parmalat (the Italian food packager).
Adelphia borrowed half of what it needed for the acquisition binge.
Citigroup said it would list as expenses stock options given to employees, to restore investor confidence after such withering peccadilloes as the WorldCom, Enron and Adelphia scandals.
Digeo has sold 235, 000 Moxi boxes to Allen's Charter (9 million subscribers) and Adelphia Cable (5 million subs), which Allen is rumored to be considering buying.
Analysts at Merrill Lynch have even suggested that Time Warner might spin off and take their cable business public, merging it with acquired pieces of Adelphia.
And with net debt 6.3 times higher than profits before interest, tax and depreciation, says Sanford Bernstein, a research firm, buying Adelphia would strain Cablevision's balance sheet.
What about John Rigas , founder of Adelphia Communications ?
Could an investor have anticipated the trouble at companies like Enron, Adelphia, WorldCom and Tyco by looking more closely at how they were governed and how they kept their books?
In Nashville, the Tennessee Titans need a new sponsor for Adelphia Coliseum, now that Adelphia Communications (otc: ADELQ - news - people ) is in Chapter 11 proceedings.
Martin is also bullish on Time Warner because of its acquisition of cable operator Adelphia, which will be accretive to earnings and create a "separate currency" for the company's cable assets.
These include Enron, Qwest Communications, Adelphia Communications and WorldCom.
By working together on this deal, Time Warner will be able to gain enough new subscribers from Adelphia to be able to buy back Comcast's stake without seriously damaging its own business.
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