Friday, February 13, 2009

COMPANY NEWS; ADELPHIA TO BUY 2 CABLE TV SYSTEMS IN VIRGINIA

A cable TV operator, the Adelphia Communications Corporation, said yesterday that it would pay $836 million to buy GS Communications Inc. and another Virginia cable system. The acquisitions will add about 155,000 subscribers to Adelphia's systems in Virginia, bringing its total subscriber base in the state to more than 700,000. A spokesman for Adelphia, the sixth-largest cable television operator in the United States, with about 5.6 million subscribers, declined to identify the other, smaller cable system purchased. Adelphia's operations include cable entertainment, high-speed Internet access, long-distance telephone service, paging and security. Its stock rose $1.625 a share, to $45.

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