Adelphia Communications Corp. reported continued decline in basic subscribers but a healthy gain in high-speed-Internet customers.
Basic subscribers as of Aug. 31 stood at 5.09 million, down about 11,000 from 5.11 million in July. Digital customers also fell by about 1,500 in the period, to 2.04 million. High-speed-data subscribers rose by 35,000 to 1.6 million.
The basic-subscriber losses were actually an improvement over the same period last year, when the Denver-based MSO lost about 31,000 basic customers.
Revenue for the month was flat at $344.7 million compared with $344.5 million in July. Cash flow in August was down 7.9% to $94.7 million compared with $102.8 million in the prior month.
In mid-April, Adelphia agreed to sell its assets to Time Warner Inc. and Comcast Corp. in a deal valued at $17.6 billion. While that transaction also includes penalties if Adelphia’s subscriber count dips below a certain level, sources familiar with the companies said Adelphia is far from hitting that mark.
Since March 31, the MSO has lost a total of 76,000 basic subscribers, according to its monthly operating reports.