Adelphia To Buy Harron’s Cable
COUDERSPORT, Pa. (AP) _ Adelphia Communications Corp. is buying the cable television systems owned by Harron Communications Corp. for $1.17 billion in a deal solidifying its ranking as the fourth biggest U.S. cable TV operator.
The deal announced Monday is expected to be finalized in March and will boost Adelphia’s base of subscribers to approximately five million.
Harron has provided cable service since 1963, mostly in New England, Pennsylvania and Michigan.
``Harron’s systems are an excellent strategic fit with Adelphia’s existing operations in Pennsylvania and New England,″ said Tim Rigas, Adelphia’s executive vice president and chief financial officer. ``This acquisition increases our presence in New England to nearly 800,000 customers and increases our subscriber base in the greater Philadelphia region to approximately 250,000 customers.″
Adelphia, based in Coudersport, offers cable entertainment, local exchange telephone services, high-speed Internet access, long distance telephone service, paging and security.
It ranks behind Time Warner Inc. with 12.6 million subscribers, AT&T Corp. at 12.5 million and Comcast Corp. at 11 million among the biggest U.S. cable system owners.