Adelphia eyes So. Cal. fiber

Cable World, Feb 25, 2002

Adelphia Communications is expected to buy Verizon Americast's broadband infrastructure in Southern California in a deal worth just under $58 million that could be completed as early as today, according to a source familiar with the deal. Though the operator, is not directly acquiring Verizon's customers--they will be asked if they want to move to Adelphia--the price values the deal at less than $1,000 for each of Verizon's 58,000 subscribers.

An Adelphia spokesman would not comment on the deal, but a city official for Cerritos, Calif., (one of the systems within Southern California) confirmed that Verizon was scheduled to announce its new undisclosed buyer for that city franchise today. Bill Kula, a Verizon spokesman in Dallas, Texas, said he was not aware of any announcement in Cerritos. But he confirmed that Verizon has been trying to sell its video and broadband assets in Southern California and Florida. Adelphia's acquisitions could also include Verizon's systems in Florida, the source said.