National cable companies Time Warner, Inc. and Comcast Corp. have agreed to acquire Adelphia Communications Corp., a Colorado-based cable company with 5.2 million basic subscribers nationwide for $12.7 billion in cash and 16 percent of the common stock of Time Warner’s cable subsidiary, Time Warner Cable Inc.
The financially strapped company has been exploring a sale of the company since April 2004.
Adelphia, which is estimated to provide service to more than 66,000 subscribers in the North County communities of Carlsbad, Del Mar, San Marcos, Encinitas, Fallbrook, Solana Beach and Vista, had been looking to reorganize the company since 2002.
The impact on Time Warner Cable’s San Diego operation, which has 350,000 subscribers throughout the northern half of San Diego, Coronado, portions of Poway, Palm Springs, Palm Desert, Barstow, and other desert communities, is unknown at this time.
But according to sale documents, Time Warner Cable and Comcast “will swap cable systems to enhance their respective geographic clusters.”
Lisa Kovach
