Adelphia Considering Sale of Some Cable Units

Adelphia Communications Corp., a cable-television company, is considering the sale of some of its systems valued at as much as $3.7 billion, Chief Financial Officer Timothy Rigas said. The company has about 935,000 subscribers who “we consider nonstrategic,” Rigas said at a UBS Warburg cable-TV bond conference in New York. The Coudersport, Pa.-based company has a total of 5.6 million subscribers. Adelphia is trying to sell cable systems with 135,000 customers in Puerto Rico, Rigas said. It will decide what to do with franchises serving another 800,000 homes, depending on “the reaction we get for the Puerto Rican sale,” he said. The assets are valued at $3,000 and $4,000 a subscriber, Rigas said, or $2.8 billion to $3.7 billion.