More Western no-Shows
Another wave of cable networks have canceled plans to exhibit at the Western Show in November. Missing in action will be Lifetime Television; Oxygen; Scripps Networks' Food TV, HGTV and DIY; and Game Show Network. They join MTV Networks, Home Box Office, Showtime, Starz! and Playboy, which notified the California Cable Association earlier that they won't exhibit. To keep revenues up, the CCTA has set a new $14,000 non-exhibitor fee. If they don't pay it, networks won't get promotion opportunities such as sponsoring parties, promos in hotel rooms and, of course, hotel-room assignments close to the Anaheim Convention Center.
Debt Worries Slam Adelphia Telco
Shares in Adelphia Communications' telephone unit Adelphia Business Solutions dropped as much as 36% after Moody's Investors Service raised more concerns about the telco's financial conditions. Adelphia Business said last week it needed to raise $500 million to fund out its plans. Despite plans for a new package of loans, Moody's said, "It is reasonable to assume that the CLEC company is either out of money at present or will be shortly." The company may be turning even more to the cable operation for cash, but that unit is already heavily leveraged.
A July 23 "Changing Hands" item on the sale of KHQT(FM) Las Cruces, N.M., and KKVS(FM) Truth or Consequences/Las Cruces, misreported the price. It was $1,650,000.