Despite a 23% jump in revenue, Adelphia Communications – America’s sixth largest cable TV operator – posted widening losses.
Increased expenses pushed its net loss from $145.4 million last year to $267.2m, on revenues of $898.6m (up from $727.9m). However, EBITDA (earnings before interest, taxes, depreciation and amortization) jumped 27% to $357.1m.
Adelphia’s digital subscriber base increased more than threefold to 1.7m, with the number of customers signed up to its high-speed data services tripling to 315,104.
In addition, Adelphia announced it would spin off 79%-owned cable TV and communications subsidiary Adelphia Business Solutions before the end of March by distributing its equity holding to its shareholders.
News source: MediaWeek.com (US)