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April 08, 2005
Comcast and Time Warner snatch Adelphia from Cablevision's grasp
Looks like Cablevision's $16.5 billion bid for Adelphia was a case of too little, too late: Comcast and Time Warner Cable announced plans to buy Adelphia for $18 billion yesterday, and it looks like the offer will be accepted by Adelphia's board and the bankruptcy judge presiding over the case. According to the New York Times, the offer includes $13.5 billion in cash and $4.5 billion in stock (the Wall Street Journal, though, is reporting a $12 billion/$6 billion mix).
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