Judge OKs Adelphia Interest Payments

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Time Warner Inc. and Comcast Corp. moved one step closer to acquiring Adelphia Communications Corp. Thursday when a bankruptcy judge in New York approved $1.23 billion in interest payments by the bankrupt MSO to unsecured creditors, AP reported.

Adelphia announced earlier this month that it would try to resolve a dispute among some of its creditors, as it needed to complete its asset sale by July 31, according to AP.