Adelphia Communications Corp. lowered its full-year-2002 cash-flow guidance
to $1.1 billion from $1.3 billion, citing subscriber losses and the disruptive
effects of its Chapter 11 bankruptcy filing.
In a Securities and Exchange Commission filing Tuesday, Adelphia said its
June 25 Chapter 11 filing caused a suspension of practically all capital
projects, including its rebuild, and affected its ability to continue to
increase its penetration of digital and high-speed-data service to
The bankruptcy also disrupted Adelphia's marketing programs, which affected
customer retention and acquisition and allowed satellite competitors to increase
their marketing efforts targeted at Adelphia customers.
According to the SEC filing, total basic customers as of Sept. 30 fell to
5.78 million from 5.85 million in June. Digital-cable subscribers rose to 1.69
million in September from 1,63 million in June. And high-speed-data subscribers
increased from 488,000 in June to 550,000 in September.