FTC OKs Adelphia Sell-Off to Comcast, Time Warner

Law360, New York (February 1, 2006, 12:00 AM EST) -- The Federal Trade Commission has given the green light to the $17.6 billion sale of bankrupt and scandal-ridden cable company Adelphia Communications Corp. to former rivals Comcast Corp. and Time Warner Inc.

Adelphia, the fifth largest cable TV company in the U.S., welcomed the decision as an “important step forward,” although the Federal Communications Commission also must approve the cable deal.

“The timely closure of this sale is in the best interests of our creditors, customers and employees. In addition to the remaining local government approvals...
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