Cable Channel Files Suit Opposing Adelphia Sale

Law360, New York (May 31, 2006, 12:00 AM EDT) -- A small cable television channel has taken on broadcasting powerhouses Time Warner Inc. and Comcast Corp., hoping to block their impending acquisition of now-bankrupt Adelphia Communications Corp.

Florida-based The America Channel has filed a suit accusing the two cable companies of conspiring to fix prices in cable markets across the country by submitting a joint bid for Adelphia, rather than competing for the company’s remaining assets.

After Adelphia filed for bankruptcy last year, Time Warner and Comcast agreed to purchase the company for $17.6 billion....
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