Adelphia Accused of Breaching Agreements
Cable TV provider Adelphia Communications Corp., which is being bought by Time Warner Inc. and Comcast Corp., said those two companies had accused it of breaching purchase agreements.
Time Warner and Comcast said in a letter dated Friday that Adelphia had failed to track certain marketing promotions, Greenwood Village, Colo.-based Adelphia said in a regulatory filing.
In a reply to the companies Monday, Adelphia denied that it breached agreements and said it would incorporate a method to follow promotions. Adelphia is selling most of its assets to Time Warner and Comcast for $17.6 billion, which the bankrupt company will use to repay creditors.