Psst -- any receivables to sell?(Longacre Management offers to buy claims against Adelphia Communications Corp.)(Brief Article)(Statistical Data Included)
Multichannel News, July, 2002 by Moss, Linda
Gable networks have been approached by companies offering to buy their claims against Adelphia Communications Corp., with one programmer already offered 20 to 30 cents on the dollar.
New York-based Longacre Management has contacted at least one major cable-network group about buying its Adelphia receivables, according to one source. Longacre officials, who couldn't be reached for comment last week, said it would pay that programmer from 20 to 30 cents on the dollar of the money it is owed by Adelpbia. It was likely that programmer was going to pass on the offer.
An official at one cable-network group, who asked not to be identified, said his company has received calls from several firms that have inquired about buying its claims against Adelphia....
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