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© St. Petersburg Times, published June 22, 2002
The Americast cable service, which serves 59,000 Pinellas County customers, can't be turned over to a cable corporation teetering on the brink of bankruptcy, Pinellas County commissioners said Friday.
Verizon Communications agreed in March to sell Americast to Adelphia Communications, the country's sixth-largest cable company.
But Adelphia now is being investigated by the Securities and Exchange Commission for unrecorded loans and may file for bankruptcy protection. So on Friday morning, commissioners voted to deny Verizon's request to turn the franchise over to Adelphia.
Jim Bennett, chief assistant county attorney, told commissioners that with news reports saying Adelphia could file by Monday, they should act immediately. Otherwise, the county could wind up involved in the bankruptcy case, he said.
The four commissioners present at the specially called meeting agreed to deny the change without prejudice, meaning that Verizon could return with a new buyer, or even with Adelphia if its financial problems are resolved.
A Verizon spokesman would not comment Friday on the commission's vote or say what the company plans to do with the cable operation now.