GREENWOOD VILLAGE, Colo., Oct. 16 /PRNewswire-FirstCall/ -- Adelphia Communications Corporation today filed revised drafts of the Fifth Amended Joint Chapter 11 Plan of Reorganization and the related Second Disclosure Statement Supplement, including position statements of certain creditors and creditor groups annexed thereto as Exhibits AA through GG, with the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court").
Copies of the revised drafts of the Fifth Amended Plan and related Second Disclosure Statement Supplement, including the position statements to be annexed as Exhibits AA through GG, are available in the investor relations section of the Adelphia corporate website at http://www.adelphia.com/. This press release is not intended to be, nor should it be construed as, a solicitation for a vote on the Fifth Amended Plan.
About Adelphia
Prior to the sale of substantially all of the consolidated assets of Adelphia to Time Warner NY Cable LLC ("TW NY") and Comcast Corporation ("Comcast") on July 31, 2006 (the "Sale Transaction"), Adelphia Communications Corporation was the fifth largest cable television company in the country. It served customers in 31 states and offered analog and digital video services, high-speed Internet access and other advanced services over its broadband networks.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements. All statements regarding the Company's and its subsidiaries' and affiliates' expected sources and uses of cash, income tax positions, indemnification obligations and any post-closing purchase price adjustments related to the sale transactions with TW NY and Comcast, settlements with the Securities and Exchange Commission (the "SEC") and the United States Attorney's Office for the Southern District of New York (the "U.S. Attorney") and future course of the Company's pending bankruptcy proceeding, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will" and other similar expressions, are forward-looking statements. Such forward-looking statements are inherently uncertain, and readers must recognize that actual results may differ materially from the Company's expectations. The Company does not undertake a duty to update such forward-looking statements. Factors that may cause actual results to differ materially from those in the forward-looking statements include the potential costs and impacts of the transactions and obligations associated with the Sale Transaction, whether and on what timetable a plan of reorganization under Chapter 11 of the Bankruptcy Code will be confirmed and consummated, whether the transactions contemplated by the settlements with the SEC and the U.S. Attorney and any other agreements needed to effect those transactions are consummated, the Company's pending bankruptcy proceeding, results of litigation against the Company, results and impacts of the sale of the Company's assets and those discussed under Item 1A, "Risk Factors," in the Company's Quarterly Report on Form 10-Q for the period ended June 30, 2006 and in the Company's Second Disclosure Statement Supplement, filed with the Bankruptcy Court on October 16, 2006, which is available in the investor relations section of the Company's website at http://www.adelphia.com/. Information contained on the Company's Internet website is not incorporated by reference into this press release. Many of these factors are outside of the Company's control.
