Associated Press reports that Adelphia Communications Corp. is expected to
file for bankruptcy protection on Monday.
The company has reached an agreement with two banks for a $1.5 billion
loan that would allow it to continue operating while it reorganizes,
said sources familiar with the matter who spoke on condition of
The financing is being arranged by J.P. Morgan Chase & Co. and Citigroup
Inc.'s Salomon Smith Barney division, the sources said.
The loan would be spread among a large number of banks.