Adelphia Cable Internet

Adelphia Communications Corporation, was the fifth largest cable company in the United States before filing bankruptcy in 2002 due to internal corruption. Adelphia was founded in 1952 within the town of Coudersport, Pennsylvania. The headquarters for the company was moved to Greenwood Village, Colorado shortly after filing for bankruptcy.

The majority of Adelphia's revenue-generating assets were officially acquired by Time Warner Cable and Comcast on July 31, 2006. As a result of this acquisition, Adelphia no longer exists as a cable provider.

LFC Online and Grubb & Ellis Company Selected to Sell Adelphia’s Remaining Real Estate Assets

Adelphia Communications Corporation has selected Internet real estate auction specialist LFC Online to sell most of its remaining real estate assets. In what is believed to be the largest Internet property auction to date, LFC Online, in conjunction with the Grubb & Ellis Company, will embark on an aggressive auction marketing campaign to sell the remaining real estate in Adelphia’s asset portfolio.

Michael Finley, Director, Corporate Services at Grubb & Ellis Newport Beach, states, “There are close to one hundred properties located all over the country, including both raw land and developed sites. Using LFC Online’s Internet capabilities, we are able to market to the widest possible audience and have greater control over the sale process.”

“I see these properties as ideal Internet auction candidates because of their diverse locations and potential broad market appeal to investors and individuals,” notes Bill Lange, president of the LFC Group of Companies. “Our specialized Internet auction marketing program will bring qualified buyers to the table, literally from around the world and, in doing so, will create a win-win for both the buyers and our client, the seller.”

Paul Hemann, Assistant Treasurer, Adelphia Communications Corporation, states, “Due to the diverse nature of the property portfolio, we required wide market exposure and a transparent sales process that would ultimately result in the highest possible value for our constituents. LFC Online and Grubb & Ellis Company met those requirements.”