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Adelphia: Not Dead

As grim as Adelphia's bankruptcy is, it does have one upside: the monthly financial reports from the bankruptcy court. Rather than being stuffed with usual financial blather, these documents are textbook models of fiscal clarity. The biggest news? Underneath Adelphia's $16 billion mountain of debt lies a real business. Adelphia grew its cash holdings by $31 million in December alone, for a total cash-on-hand of $457 million. The reason for at least some of these positive results is interest payments Adelphia has not had to make. Even factoring in those, net losses only jump by about 50%. That's nothing compared to true flameouts like Global Crossing.

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ADELPHIA CASH FLOW AND INTEREST PAYMENT HIGHLIGHTS

For more information on the Adelphia bankruptcy, see "Kagan Media Money" at www.kagan.com/cw.

Technology Industry

Adelphia: Not Dead

Cable World, Feb 24, 2003

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