Adelphia announces sale
Security division may be sold off separately
NEW YORK - Bankrupt Adelphia Communications confirmed in early August that it will sell the company - either as a whole or in parts.
Adelphia, which has more than five million cable subscribers across the United States, operates two security companies, Checkpoint Limited in Florida and Adelphia Security in New York. The two security companies account for 60,000 subscribers combined.
In the July issue of Security Systems News, industry sources speculated that the security arm would be sold separately, possibly bringing a new investor into the industry, but also said the sale could be difficult since the company has resided in bankruptcy for the past two years. Even with its troubles, the overall company could be worth as much as $20 billion.
For the time being, the companyÃ¢â‚¬â„¢s restructuring will continue as bids are prepared by potential buyers. Officials said they expect the purchase to be completed by the end of this year.