News

Adelphia Pays Upfront Guarantee for Fight

6/05/2002 8:50 AM Eastern

Beleaguered Adelphia Communications Corp. will at least have the opportunity
to generate revenue from the June 8 Lennox Lewis-Mike Tyson pay-per-view
event.

The MSO has evidently paid an upfront fee to fight distributors based on
PPV-revenue projections.

Sources close to the situation said Adelphia paid fight co-distributors Home
Box Office Pay-Per-View and Showtime Event Television more than $1 million to
secure distribution rights to the fight after both companies expressed concern
that the financially strapped MSO would not be able to pay its split of fight
revenues.

Representatives from Adelphia, SET and HBO PPV could not be reached for
comment at press time.

The fight, which retails at a suggested price of $54.95, is expected to be
one of the highest-grossing PPV events of all time. Most cable operators will
generate approximately 45 percent of revenues derived from the event.

PPV network In Demand L.L.C. -- which will port the event to the addressable
homes within Adelphia's 5.8 million-subscriber base -- would only say that it
plans to 'distribute the fight to Adelphia.'

September