It’s Official: Time Warner, Comcast Complete Adelphia Buyout

It’s all over but the shouting for fifth-largest cable operator Adelphia Communications. Time Warner and Comcast have completed the acquisition of “virtually all” of bankrupt Adelphia’s assets, marking the end of a modern Greek tragedy that started with the small-town to big-time story of John Rigas and ended as badly as the Icarus test flight.
Now, the tough work begins for Comcast, TWC — and the roughly 5 million customers being moved to new owners. Those customers eventually should have access to more advanced services, higher data speeds, etc. but the infrastructure and back office have to be integrated first. TWC gains about 3.3 million basic subs for a total of 14.4 million basics and 27.6 million homes passed; it adds Buffalo to a strong New York presence and emerges as the largest cable operator in the LA market. Comcast adds about 1.7 million basic subs, including Palm Beach County in South Florida, for a total of 23.3 million of its own and another 3.5 million subscribers via partnerships. Release.

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