Associated Press reports that Adelphia Communications Corp. is expected to
file for bankruptcy protection on Monday.
The company has reached an agreement with two banks for a $1.5 billion
loan that would allow it to continue operating while it reorganizes,
said sources familiar with the matter who spoke on condition of
The financing is being arranged by J.P. Morgan Chase & Co. and Citigroup
Inc.'s Salomon Smith Barney division, the sources said.
The loan would be spread among a large number of banks.
The television industry's top news stories, analysis and blogs of the day.
Thank you for signing up to Next TV. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.