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Adelphia Explores Sale

By Eileen Buckley

New York City, NY – Adelphia Communications announced Thursday that it will explore a possible sale of the company. It is part of Adelphia reorganization from bankruptcy.

In a news release, Adelphia says the company intends to determine whether a sale process will deliver greater value to its constituencies. Adelphia's Board of Directors made the decision Wednesday to explore a possible sale. Adelphia shareholders and creditors are putting pressure on the company to sell.

Adelphia filed for bankruptcy in 2002 following the Rigas family accounting scandal.