COMPANY TOWN ANNEX

Adelphia Communications Corp., a provider of cable television service, agreed to pay $300 million in cash and stock to buy cable systems in the Northeast from rival AT&T; Corp. Coudersport, Pa.-based Adelphia will pay $73 million in stock, or 2.1 million shares based on Thursday’s close, and $227 million for systems with 115,000 subscribers, the company said in a Securities and Exchange Commission filing. Adelphia is paying $2,609 per subscriber. AT&T;, the largest U.S. cable TV and long-distance phone company, has been selling cable systems and other assets to reduce debt as it prepares to split into three companies with four stocks by next year.