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Adelphia's Loss Narrows on Fewer Write-Downs

November 18, 2005

Adelphia Communications Corp., the cable company operating under bankruptcy protection, said its third-quarter loss narrowed to $146.6 million on fewer write-downs.

Its net loss shrank to 58 cents a share from $260.8 million, or $1.04 a share, a year earlier, the Greenwood Village, Colo.-based company said in a regulatory filing. Revenue rose to $1.09 billion from $1.04 billion.

Adelphia is selling its assets to Time Warner Inc. and Comcast Corp. for $17.6 billion. Adelphia filed for bankruptcy in June 2002 after an accounting fraud and in April agreed to pay about $715 million to settle the case.

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