New York -- The recent accounting scandals at Adelphia Communications
Corp. have thrown the industry for a loop, but they are not indicative of
cable's overall financial practices, said MSOs who spoke at a National
Association for Minorities in Communications forum here.
'There aren't similarities with what's happening with Adelphia and the rest
of the industry,' Insight Communications Co. Inc. CEO Michael Willner said.
'I think you will see very little concern about the industry overall.'
'I think it comes down to character,' E! Networks president Mindy Herman
added. 'If you can instill a commitment of character within your organization,
then these [problems] become the exception, rather than the rule.'
The executives said the scandals have forced directors to become more
vigilant and involved in the financing and accounting decisions that companies
'The days of board-member rubber-stamping are long
gone,' National Cable Television Cooperative president Mike Pandzik said. 'It
never should have been a passive exercise, and it certainly isn't