GREENWOOD VILLAGE, Colo., Sept. 27 /PRNewswire-FirstCall/ -- Today,
Adelphia Communications Corporation (OTC: ADELQ) filed amended forms of two
of the position statements to be annexed, as Exhibit BB and Exhibit HH, to
its Second Disclosure Statement Supplement Relating to Fifth Amended Joint
Chapter 11 Plan with the United States Bankruptcy Court for the Southern
District of New York.
Copies of the modified Fifth Amended Plan and related Second Disclosure
Statement Supplement, including the amended forms of the positions
statements to be annexed as Exhibit BB and Exhibit HH, are available in the
investor relations section of the Adelphia corporate website
http://www.adelphia.com. This press release is not intended to be, nor should it
be construed as, a solicitation for a vote on the Fifth Amended Plan.
About Adelphia
Prior to the sale of substantially all of the consolidated assets of
Adelphia to Time Warner NY Cable LLC and Comcast Corporation on July 31,
2006 (the "Sale Transaction"), 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
and any post-closing purchase price adjustments related to the sale
transactions with Time Warner NY Cable LLC ("TW NY") and Comcast
Corporation ("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 Company's pending bankruptcy proceeding, 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 transactions with
TW NY and Comcast, whether and on what timetable a plan of reorganization
under Chapter 11 of the Bankruptcy Code will be confirmed and consummated,
whether the transactions contemplated by the settlements with the SEC and
the U.S. Attorney and any other agreements needed to effect those
transactions are consummated, the Company's pending bankruptcy proceeding,
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 June
30, 2006 and in the Company's Second Disclosure Statement Supplement, filed
with the Bankruptcy Court on September 18, 2006, which is available in the
investor relations section of the Company's website at http://www.adelphia.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.adelphia.com
http://www.prnewswire.com/comp/010150.html/
CONTACT:
Media, Paul Jacobson, +1-303-268-6426, or
Investor Relations, Mark Spiecker, +1-303-268-6545, both of
Adelphia Communications Corporation
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