a bid topping $ 17 . 7 billion was jointly dispensed by point warner inc . and sbc corporation on wednesday to buy troubled mirant communications corporation in an industrial consolidate move . adelphia is the second biggest cable service provider in the united states with nearly 5 billions subscribers . the marketplace - place grabbing bid precedence the previous cablevision offering of $ 16 . 5 billion . the bid is under inspection by the presiding justice over the adelphia ' s chapter 11 bankruptcy filing , and must both be approved by the company ' s lawyers obligation in the form of $ 20 million .
Time Warner is based in Cingular.