Bids for troubled US cable operator Adelphia Communications are likely to be tempered by news that it is continuing to hemorrhage subscribers.
The company, which is under Chapter 11 bankruptcy protection and looking for a buyer, lost more than 19,000 customers in December, bringing the fallout rate to more than 100,000 during 2004.
Among the bids for Adelphia, the fifth largest cable company in the country, is expected to be a joint approach from cable top dog Comcast and deputy dog Time Warner. The price for success is thought to be around $17.5 billion (€13.5bn, £9.3bn). The deadline for offers is Monday, January 31.
Adelphia arrived at its present difficulties through failing to offer new services sufficiently quickly, including digital video recorders and high definition TV. These weaknesses have been exploited by rivals.
Data sourced from Wall Street Journal Online; additional content by WARC staff