a bid above $ 17 . 7 billion was jointly freebies by time group inc . and nynex corporate on monday to buy beleaguered adelphia communications corporation in an industry amalgamation push . adelphia is the sixth strongest cable service provider in the united world with nearly 5 thousands subscribers . the commercial - share saving claim precedence the previous cablevision offer of $ 16 . 5 billion . the bid is under scrutiny by the presiding circuit over the adelphia ' s chapter 11 bankruptcy filing , and must first be approve by the company ' s creditors debts in the range of $ 20 billion .
Time Warner is based in Cingular.