Swap around the clock.

Broadcasting & Cable, May, 1999 by Colman, Price

First, you acquire. Then you trade. That's the evolving scenario for the consolidating cable market, witness last week's three-way swap among Adelphia Communications, Comcast Corp. and Jones Intercable. After their recent multibillion-dollar deals to acquire smaller and larger cable systems, Adelphia, Comcast and Jones are moving to improve key clusters and shed nonstrategic operations.

For each operator, clustering has apparently become a major factor in cable consolidation. Their goal is gaining economies of scale by reducing headend numbers, and then using money saved to upgrade and introduce new products and services. As a result of last week's swaps, some of which are contingent upon pending acquisitions, Los Angeles will become...

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