# SECURITIES AND EXCHANGE
COMMISSIONWASHINGTON, D.C. 20549

# FORM 8-K

Current Report

Pursuant to Section 13
or 15(d) ofThe Securities Exchange Act of 1934

Date of Report (date of earliest event reported): May 23, 2003

# OLYMPUS COMMUNICATIONS, L.P.OLYMPUS CAPITAL
CORPORATIONFRONTIERVISION OPERATING PARTNERS, L.P.FRONTIERVISION CAPITAL CORPORATION FRONTIERVISION
HOLDINGS, L.P.FRONTIERVISION HOLDINGS CAPITAL CORPORATION FRONTIERVISION HOLDINGS CAPITAL II CORPORATIONARAHOVA COMMUNICATIONS,
INC.(Exact name of
registrants as specified in its charter)

|                                |  | 
|------------------------------- |  | 
|Delaware                        |  | 
|Delaware                        |  | 
|Delaware                        |  | 
|Delaware                        |  | 
|Delaware                        |  | 
|Delaware                        |  | 
|Delaware                        |  | 
|Delaware                        |  | 
|(State or other jurisdiction of |  | 
|incorporation)                  |  | 

One North Main Street       Coudersport, PA          16915-1141(Address
of principal executive offices) (Zip Code)

Registrants telephone number, including area code (814) 274-9830

# 

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# Item 9. Regulation FD
Disclosure

Operating Reports

On
May 23, 2003, Adelphia Communications Corporation (the Company) and
certain other debtor-in-possession subsidiaries of the Company filed their unaudited
consolidated Monthly Operating Report (the Adelphia Operating Report)
for the month of April 2003 with United States Bankruptcy Court for the Southern District
of New York (the Bankruptcy Court). Exhibit 99.1 to this Current
Report on Form 8-K contains the unaudited consolidated financial statements and the
Bankruptcy Court reporting schedules of the Adelphia Operating Report as filed with the
Bankruptcy Court.

The
Company cautions readers not to place undue reliance upon the information contained in the
Operating Reports, which contain unaudited information, and are in a format prescribed by
the applicable bankruptcy laws. The Operating Reports are subject to revision. The
Operating Reports also contain information for periods, which may be shorter or otherwise
different from those contained in the Companys reports pursuant to the Securities
Exchange Act of 1934, as amended (the Exchange Act).

Corrections of Accounting
Policies and Practices

As
disclosed in its Current Report on Form 8-K, dated June 10, 2002 (the June 10
8-K), the Company identified several areas where the accounting policies that
had been followed by the Company under the former management of the Rigas family
(Rigas Management) were believed to be erroneous and determined that it would
make certain adjustments to its financial statements as of December 31, 2001 and 2000. The
adjustments, when determined, are intended to correct items in operating results
previously announced by the Rigas Management and reflect the application of accounting
policies in accordance with generally accepted accounting principles (GAAP)
established in the United States. One of the areas for correction identified in the June
10 8-K was the capitalization of labor expenses.

The
Company has prepared its financial statements using the accounting policies and practices
in place under Rigas Management, with estimated adjustments for quantifiable errors, while
the Company has been developing accounting policies and practices that are consistent with
GAAP. As disclosed in its Current Report on Form 8-K dated February 25, 2003 (the
February 25 8-K), effective January 1, 2003, the Company, as part of
its ongoing review of its historical books and records and its financial statements,
corrected certain of its erroneous accounting policies and practices for Property, Plant
and Equipment (PP&E) relating to the capitalization of labor,
labor-related costs, certain overhead costs, and certain materials (collectively,
Capitalized Costs)used in the maintenance of its cable systems. The
erroneous capitalization of costs that were corrected included, among other things,
Capitalized Costs for service calls and normal, ongoing maintenance to cable systems. Some
of the items that had been capitalized included system electrical power, converter
repairs, equipment repairs and maintenance contracts. The Company believes that the
corrections were necessary in order to be in compliance with GAAP. At the time the
February 25 8-K was filed, the Company was still evaluating Capitalized Costs related to
installation activities and internal construction (collectively, Capitalized
Installation and Construction Activities).

# 2

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In
April 2003, the Company corrected its erroneous accounting policies and practices related
to Capitalized Installation and Construction Activities and recorded an adjustment of
approximately $15 million in the April 2003 accounting month to correct for these errors
for the months of January through March 2003. These errors included the incorrect
capitalization of reconnect and disconnect activities, which are prohibited by GAAP, as
well as the improper capitalization or overcapitalization of certain overhead costs. This
adjustment had the effect of increasing expenses and reducing capital expenditures in
April 2003. The Company had been recording a monthly provision in 2003 of $2 million for
estimated accounting changes. In conjunction with the corrections made in April 2003 for
Capitalized Installation and Construction Activities, the Company discontinued recording
the estimated provision and reversed the $6 million, which had been previously recorded in
2003.

The
Company has not restated previously filed Adelphia Operating Reports and has not completed
its review and analysis of its new accounting policies and practices for PP&E relating
to Capitalized Costs, including Capitalized Installation and Construction Activities, on
the financial statements for the years ended December 31, 2002, 2001, 2000 and 1999.
However, the Company has recorded total adjustments of $144 million in 2002 for estimated
corrections in accounting polices and practices, comprised of: (i) a May 2002 adjustment
expensing approximately $21 million for certain costs erroneously capitalized under Rigas
Management accounting policies and practices, (ii) a December 2002 adjustment expensing
approximately $21 million for certain costs erroneously capitalized under Rigas Management
accounting policies and practices , and (iii) an estimated provision for accounting
corrections of $51 million through June 2002 and $8.5 million per month from July 2002
throughDecember 2002.

The
Company estimates that the new accounting policies and practices relating to Capitalized
Costs, including Capitalized Installation and Construction Activities, for PP&E will
increase expenses and decrease capital expenditures by approximately $300 million on an
annualized basis in 2003 as compared to the accounting policies and practices of the
Company under Rigas Management. The impact of the new accounting policies and practices
relating to Capitalized Costs, including Capitalized Installation and Construction
Activities, for PP&E on the Companys results of operations will vary based upon
levels of activities, therefore, the estimated $300 million annualized impact for 2003 is
not necessarily indicative of actual results for the year ended December 31, 2003 or of
corrections that may be made for the years ended December 31, 2002, 2001, 2000 and 1999.
Furthermore, the Company is currently unable to determine the impact on depreciation
expense attributable to these corrections for any period since the adjustments to the
historical costs of PP&E for 2002, 2001, 2000 and 1999 have not yet been finalized.
The impact of these changes and any other further changes will likely be material.

Additionally,
management has not completed its overall review of the Companys historical books and
records, accounting policies and practices and financial statements, and accordingly, the
Company may record additional adjustments for corrections in erroneous accounting policies
and practices in addition to those adjustments already recorded for PP&E, and such
adjustments may be material.

PricewaterhouseCoopers,
LLP (PwC), the Companys independent auditors, has not completed its
audit of the Companys books for any period and their audit could result in further
adjustments to the Companys results of operations and those adjustments could be
material.

# 3

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Corrections of Customer
Statistical Data

|                   | Basic Customers (1) | Digital Customers | High-Speed DataCustomers |           |             
|------------------ | ------------------- | ----------------- | ------------------------ | --------- | ------------
|                  
|                   | Previously          |                   | Previously               |           | Previously  
|                   | Reported (2)        | Restated          | Reported (3)             | Restated  | Reported (4)
|                  
|March 31, 2003     | N/A                 | 5,302,533         | N/A                      | 1,837,871 | N/A         
|December 31, 2002  | N/A                 | 5,321,675         | N/A                      | 1,783,480 | N/A         
|September 30, 2002 | 5,377,026           | 5,350,036         | 2,425,570                | 1,692,482 | 555,515     
|June 30, 2002      | 5,451,731           | 5,425,404         | 2,344,171                | 1,631,970 | 492,451     
|March 31, 2002     | 5,454,116           | 5,427,219         | 2,157,369                | 1,502,564 | 398,782     

| |  |  | (1) | Reported under an equivalent billing units methodology whereby customers under a
          bulk billing arrangement are reduced to the equivalent number of customers who
          receive cable television at the prevailing rate in the franchise area.
| |  |  | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  |  | (2) | In the October 2002 8K, the Company reported basic customers of 5,775,356 as of
          September 30, 2002, 5,845,850 as of June 30, 2002 and 5,859,929 as of March 31,
          2002. Such basic customer counts were not discounted for equivalent billing
          units at prevailing rates as noted in (1) above.
| |  |  | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  |  | (3) | Includes additional digital converter boxes billed to the same customer
| |  |  | --- | -----------------------------------------------------------------------

| |  |  | (4) | Includes additional cable modems billed to the same customer
| |  |  | --- | ------------------------------------------------------------

| |  |  | N/A | Customer information not previously reported in Securities and Exchange Act filings.
| |  |  | --- | ------------------------------------------------------------------------------------

# 4

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Limitation on
Incorporation by Reference

In
accordance with general instruction B.2 of Form 8-K, the Operating Reports and other
information in this report (including exhibits) is furnished pursuant to Item 9 and shall
not be deemed to be filed for the purposes of Section 18 of the Exchange Act,
as amended or otherwise subject to liabilities of that section,nor shall they be deemed
incorporated by reference in any filing under the Securities Act of 1933, as amended (the
Securities Act), except as expressly set forth in such filing. This
report will not be deemed an admission as to the materiality of any information in the
report that is required to be disclosed solely by Regulation FD.

Cautionary Statement
Regarding Financial and Operating Data

As
a result of actions taken by Rigas Management: (a) the Company has not yet completed its
financial statements as of or for the years ended December 31, 2002 and 2001, or received
its independent public accountants report thereon or filed with the Securities and
Exchange Commission (the Commission) its Annual Report on Form 10-K for
the years ended December 31, 2002 and 2001; (b) the Companys former independent
public accountants, Deloitte & Touche LLP, suspended their auditing work on the
Companys financial statements as of and for the year ended December 31, 2001 and
withdrew their audit report with respect to the year ended December 31, 2000; (c) the
Company has not yet completed its financial statements or filed with the Commission its
Quarterly Report on Form 10-Q as of and for the three months ended March 31, 2003; (d) the
Company has not yet completed its financial statements or filed with the Commission its
Quarterly Report on Form 10-Q as of and for the quarterly periods ended September 30,
2002, June 30, 2002 or March 31, 2002; and (e) the Company expects to restate its
financial statements for the years ended December 31, 2000 and 1999, and its interim
financial statements for 2001 and possibly other periods. New management took control of
the Company in May 2002 and retained new independent auditors and began the preparation of
new financial statements for the periods in question. As a result of certain actions of
Rigas Management that the Company has previously disclosed, the Company is unable to
predict at this time when such financial statements will be completed. In addition,
current management believes that the public information provided by Rigas Management on
other matters of interest to investors, such as the Companys rebuild percentage (the
percentage of the Companys cable television systems that the Company believes have
been upgraded to current standards), was unreliable. As a result, the Company anticipates
that it may have to supplement the financial and other information contained in this Form
8-K and that such supplemental information may be material.

Cautionary Statement
Regarding Forward Looking Statements

This
document includes forward-looking statements within the meaning of Section 27A of the
Securities Actand Section 21E of the Exchange Act. All statements regarding
Adelphia Communications Corporation and its subsidiaries (collectively, the
Companys) expected future financial position, results of
operations, cash flows, restructuring and financing plans, business strategy, budgets,
projected costs, capital expenditures, competitive positions, growth opportunities, plans
and objectives of management for future operations and statements that include words such
as anticipate, if, believe, plan,
estimate, expect, intend, may,
could, should, will, and other similar expressions are
forward-looking statements. Such forward-looking statements are inherently uncertain, and
readers must recognize that actual results may differ from the Companys
expectations. The Company does not undertake a duty to update such forward-looking
statements.

# 5

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Actual
future results and trends for the Company may differ materially depending on a variety of
factors discussed in the Companys filings with the Commission, including its
recently filed Current Reports on Form 8-K, the most recently filed Quarterly Report on
Form 10-Q, the Annual Report on Form 10-K for the year ended December 31, 2000, and the
most recent prospectus supplement filed under Registration Statement No. 333-64224, under
the section entitled Risk Factors contained therein. Factors that may affect
the plans or results of the Company include, without limitation: (a) the Companys
filing of a petition for relief under Chapter 11 of the United States Bankruptcy Code; (b)
the results of litigation against the Company including the civil complaint by the
Commission and the potential for a criminal indictment of the Company; (c) the effects of
government regulations and the actions of local cable franchise authorities; (d) the
availability of debtor-in-possession financing and surety bonds to support the
Companys operations; (e) the results of the Companys internal investigation
and the matters described above under Cautionary Statement Regarding Financial
and Operating Data; (f) actions of the Companys competitors; (g) the
pricing and availability of equipment, materials, inventories and programming; (h) product
acceptance and customer spending patterns; (i) the Companys ability to execute on
its business plans, to provide uninterrupted service to its customers and to conduct,
expand and upgrade its networks; (j) technological developments; (k) matters relating to
or in connection with the bankruptcy filing and proceedings of Tel-Cove, Inc. (formerly
known as Adelphia Business Solutions, Inc.); (l) changes in general economic conditions
and/or economic conditions in the markets in which the Company may, from time to time,
compete; (m) the movement of interest rates and the resulting impact on the Companys
interest obligations with respect to its pre-petition bank debt and Debtor-in-Possession
financing; and (n) the delisting of the Companys common stock by Nasdaq. Many of
such factors are beyond the control of the Company and its current management.

# 6

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SIGNATURE

Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.

|                    |                                          
|------------------- | -----------------------------------------
|Date:  May 23, 2003 | OLYMPUS COMMUNICATIONS, L.P. (Registrant)
|                    |                                          
|                    | By: ACC OPERATIONS, INC.,                
|                    | its Managing General Partner             
|                    |                                          
|                    | By: /s/ Scott Macdonald                  
|                    | Scott Macdonald                          
|                    | Senior Vice President                    
|                    | and Chief Accounting Officer             

| |                                         
| | ----------------------------------------
| | OLYMPUS CAPITAL CORPORATION (Registrant)
| |                                         
| | By:/s/ Scott Macdonald                  
| | Scott Macdonald                         
| | Senior Vice President                   
| | and Chief Accounting Officer            

| |                                                     
| | ----------------------------------------------------
| | FRONTIERVISION OPERATING PARTNERS, L.P. (Registrant)
| |                                                     
| | By: FRONTIERVISION HOLDINGS, L.P.,                  
| | its General Partner                                 

| |                                    
| | -----------------------------------
| | By:  FRONTIERVISION PARTNERS, L.P.,
| | its General Partner                
| |                                    

| |                                       
| | --------------------------------------
| | By:  ADELPHIA GP HOLDINGS, L.L.C., its
| | General Partner                       
| |                                       

| |                                    
| | -----------------------------------
| | By:  ACC OPERATIONS, INC., its Sole
| | Member                             
| |                                    

| |                             
| | ----------------------------
| | By: /s/ Scott Macdonald     
| | Scott Macdonald             
| | Senior Vice President       
| | and Chief Accounting Officer

# 7

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| |                                               
| | ----------------------------------------------
| | FRONTIERVISION CAPITAL CORPORATION(Registrant)
| |                                               
| | By:/s/ Scott Macdonald                        
| | Scott Macdonald                               
| | Senior Vice President                         
| | and Chief Accounting Officer                  

| |                                            
| | -------------------------------------------
| | FRONTIERVISION HOLDINGS, L.P., (Registrant)
| |                                            

| |                                    
| | -----------------------------------
| | By:  FRONTIERVISION PARTNERS, L.P.,
| | its General Partner                
| |                                    

| |                                       
| | --------------------------------------
| | By:  ADELPHIA GP HOLDINGS, L.L.C., its
| | General Partner                       
| |                                       

| |                                    
| | -----------------------------------
| | By:  ACC OPERATIONS, INC., its Sole
| | Member                             
| |                                    

| |                             
| | ----------------------------
| | By: /s/ Scott Macdonald     
| | Scott Macdonald             
| | Senior Vice President       
| | and Chief Accounting Officer

| |                                                         
| | --------------------------------------------------------
| | FRONTIERVISION HOLDINGS CAPITAL CORPORATION (Registrant)
| |                                                         
| | By:/s/ Scott Macdonald                                  
| | Scott Macdonald                                         
| | Senior Vice President                                   
| | and Chief Accounting Officer                            

| |                                                            
| | -----------------------------------------------------------
| | FRONTIERVISION HOLDINGS CAPITAL II CORPORATION (Registrant)
| |                                                            
| | By:/s/ Scott Macdonald                                     
| | Scott Macdonald                                            
| | Senior Vice President                                      
| | and Chief Accounting Officer                               

| |                                          
| | -----------------------------------------
| | ARAHOVA COMMUNICATIONS, INC. (Registrant)
| |                                          
| | By:/s/ Scott Macdonald                   
| | Scott Macdonald                          
| | Senior Vice President                    
| | and Chief Accounting Officer             

# 8

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# EXHIBIT INDEX

|           |                                                                    
|---------- | -------------------------------------------------------------------
|Exhibit No | Description                                                        
|           |                                                                    
|99.1       | Monthly Operating Report for the period ended April 30, 2003, dated
|           | May 23, 2003.                                                      

# 9

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