NEW YORK: Time Warner Inc and Comcast Corp have reached a tentative agreement to buy Adelphia Communications Corp for nearly US$18bil, according to newspaper reports.
The two media companies agreed in principle to buy bankrupt Adelphia for between US$12bil and US$13.5bil cash in addition to between US$4.5bil and US$5.6bil in stock in a company that would be created out of Adelphia and Time Warner's cable unit, The Wall Street Journal and The New York Times reported on Thursday on their websites.
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