a bid topping $ 17 . 7 crore was jointly proffered by time warner inc . and bellsouth corporations on thursday to buy faltering adelphia communications corporation in an industry consolidate move . comcast is the 15th largest distribution system provider in the united states with nearly 5 percent subscribers . the market - name grabbing bid transcends the previous cablevision offer of $ 16 . 5 billion . the bid is under scrutiny by the presiding judge over the adelphia ' s chapter 11 bankruptcy filing , and must still be backed by the company ' s creditors owed in the range of $ 20 million .
Time Warner is based in Cingular.