GREENWOOD VILLAGE, Colo., Sept. 12 /PRNewswire/ -- Adelphia
Communications Corporation announced today that a chart summarizing the
distribution of cash and shares of TWC Class A Common Stock made to classes
of Claims is available in the important documents section of the Company's
website at http://www.adelphiarestructuring.com. This chart reflects
distributions made prior to August 31, 2007. The chart does not reflect the
distributions of CVV units or distributions on account of such units from
the Adelphia Recovery Trust. Actual distributions may vary due to rounding.
The chart is based on the assumption that distributions made to Indenture
Trustees for the benefit of the underlying noteholders will be distributed
in their entirety to the noteholders and will not be subject to holdback or
reduction with respect to any claims of the applicable Indenture Trustee.
The chart does not reflect additional distributions that may be made after
August 31, 2007 as a result of the release of escrows, reserves and
holdbacks. The amount and timing of additional distributions resulting from
the release of the escrows, reserves and holdbacks are subject to the terms
and conditions of the First Modified Fifth Amended Joint Chapter 11 Plan of
Reorganization of Adelphia Communications Corporation and Certain
Affiliated Debtors, dated as of January 3, 2007 (the "Plan") and numerous
other conditions and uncertainties, many of which are outside the control
of Adelphia Communications Corporation and its subsidiaries.
Creditor inquiries regarding distributions under the Plan should be
directed to creditor.inquiries@adelphia.com.
About Adelphia Communications Corporation
The Effective Date of the Plan occurred on February 13, 2007. Adelphia
Communications Corporation continues under the management of Quest
Turnaround Advisors, LLC, its Plan Administrator, to liquidate its assets
and administer its plan of reorganization. Prior to the sale of
substantially all of the consolidated assets of Adelphia Communications
Corporation and its subsidiaries to Time Warner NY Cable LLC and Comcast
Corporation on July 31, 2006, Adelphia Communications Corporation was the
fifth largest cable television company in the country. It served customers
in 31 states and offered analog and digital video services, high-speed
Internet access and other advanced services over its broadband networks.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements. All statements
regarding the Company's and its subsidiaries' and affiliates' expected
sources and uses of cash, income tax positions, indemnification obligations
related to the Sale Transaction with TW NY and Comcast, settlements with
the Securities and Exchange Commission (the "SEC") and the United States
Attorney's Office for the Southern District of New York (the "U.S.
Attorney") and future course of the administration of the Plan, as well as
statements that include words such as "anticipate," "if," "believe,"
"plan," "estimate," "expect," "intend," "may," "could," "should," "will"
and other similar expressions, are forward- looking statements. Such
forward-looking statements are inherently uncertain, and readers must
recognize that actual results may differ materially from the Company's
expectations. The Company does not undertake a duty to update such
forward-looking statements. Factors that may cause actual results to differ
materially from those in the forward-looking statements include the
potential costs and impacts of the transactions and obligations associated
with the Sale Transaction with TW NY and Comcast, whether all of the
transactions contemplated by the settlements with the SEC and the U.S.
Attorney are consummated, the Company's administration of the Plan, the tax
effects of various aspects of the Plan, results of litigation against the
Company, results and impacts of the sale of the Company's assets and those
discussed under Item 1A, "Risk Factors," in the Company's Quarterly Report
on Form 10-Q for the period ended September 30, 2006 and in the Company's
Second Disclosure Statement Supplement, filed with the Bankruptcy Court on
October 16, 2006, which is currently available in the important documents
section of the Company's website at http://www.adelphiarestructuring.com.
Information contained on the Company's Internet website is not incorporated
by reference into this press release. Many of these factors are outside of
the Company's control.
SOURCE Adelphia Communications Corporation
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Related links:
http://www.adelphiarestructuring.com
http://www.prnewswire.com/comp/010150.html /
CONTACT:
Media Relations, Mark Spiecker of Adelphia
Communications Corporation, +1-303-268-6545
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