Adelphia

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Adelphia Communications Corporation (OTCBB: ADELQ), named after the Greek word for "brotherhood", was the sixth largest US cable television operator before it filed for bankruptcy in 2002 due to internal corruption. The Rigas family (John Rigas and sons), which founded the company in 1952, had allegedly been deceiving its investors as well as mismanaging and allocating funds. Along with one of his sons, John Rigas, now 80, was convicted in the summer of 2004 of conspiracy, bank fraud, and securities fraud.

Related Topics:
OTCBB - US - Cable television - Bankruptcy - 2002 - Corruption - Rigas family - John Rigas - 1952 - Investors - 2004 - Conspiracy - Bank fraud - Securities fraud

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Adelphia is currently undergoing improvements in management and customer care. Although some argue that Adelphia's dramatic increases in cable rates are unnecessary and unreasonable, others argue that it is necessary to temporarily issue the increases at intervals to pull the company out of its bankrupt state. Adelphia, despite its current situation, continues to expand its cable television and internet services as well as a potentially successful telephone service given that the new management team makes drastic management and leadership improvements. Adelphia also appears to be keeping up with the recent changes in technology as it expands to offer such services as HDTV. Within the past year or so, Adelphia has also begun to market their own DVR-equipped cable boxes, which add recording functions comparable to those of TiVo.

Related Topics:
Internet - Telephone - Management - HDTV - DVR - TiVo

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In 2003-04, Adelphia became the first leading cable company to offer XXX-rated pornography programming in a major market (Southern California). This move marks a sharp change in the company's attitude towards such programming. In 1999, Adelphia dropped the Spice channel, which featured soft-core pornography, from several newly acquired cable systems, citing conflict with founder John Rigas' morality.

Related Topics:
Pornography - 1999 - Spice channel

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One previous marker of Adelphia's success before its bankruptcy included the naming of a football stadium, The Coliseum (formerly Adelphia Coliseum) in Nashville, after its company name. Currently Adelphia is working on closing an 18 billon dollar deal with Time Warner Cable and Comcast Communication. Adelphia will split up their regions.

Related Topics:
Naming - Football - Stadium - The Coliseum - Nashville

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