Breaking up is hard to do: Adelphia aims to avoid auction leftovers.(Adelphia Communications Corp.)

Broadcasting & Cable, September, 2004 by Higgins, John M.

Any bidder trying to cherry-pick the best cable systems from Adelphia Communications Corp.'s auction may get stuck with the pits. That's what potential buyers are facing as they prepare for the sale of the nation's fifth-largest cable system in what is shaping up to be the biggest, most complicated auction of the year.

Adelphia executives revealed to buyers how they're chopping up their systems for the auction block, liquidating in order to finalize the company's long trip through Chapter 11. The properties serving 5 million subscribers are being divided into seven packages ranging from 500,000 to 1.3 million subscribers each.

One goal is to make the packages relatively bite-size to attract a flurry of financial buyers. With system assets worth...

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