SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported) November 13, 1996
HYPERION TELECOMMUNICATIONS, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-06957 25-1669404
(State or other (Commission File Number) (IRS Employer
jurisdiction of incorporation) Identification No.)
5 West Third Street - PO Box 472, Coudersport PA 16915
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (814) 274-9830
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Item 5. Other Events
On November 11, 1996, Adelphia Communications, Inc. ("Adelphia") announced that
Hyperion Telecommunications, Inc. ("Hyperion"), Adelphia's Competitive Local
Exchange Carrier ("CLEC") subsidiary, elected not to proceed with an initial
public offering of its Class A Common Stock. The press release related to such
announcement is filed hereto as Exhibit 10.01.
Item 7. Financial Statements and Exhibits
(c) The following exhibit is filed as part of this report on Form 8-K:
Exhibit 10.01 - Press Release issued November 11, 1996
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: November 13, 1996 HYPERION TELECOMMUNICATIONS, INC.
(Registrant)
By: /s/Timothy J. Rigas
Timothy J. Rigas
Vice Chairman, Treasurer and
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
10.01 Press Release issued November 11, 1996
Exhibit 10.01
PRESS RELEASE
FOR RELEASE: IMMEDIATE
CONTACT: Timothy J. Rigas, Executive Vice President
(814) 274-9830
HYPERION POSTPONES INITIAL PUBLIC OFFERING
Coudersport, PA - November 11, 1996
John J. Rigas, President and Chief Executive Officer of Adelphia Communications
Corporation (Nasdaq- NNM: ADLAC) announced today that Adelphia's CLEC
subsidiary, Hyperion Telecommunications, Inc., has elected not to proceed with
an initial public offering of its Class A Common Stock. Adelphia attributes the
postponement of the Hyperion initial public offering of Class A Common Stock to
a change in market conditions in the IPO equity market over the past several
weeks.
Hyperion is a competitive local exchange carrier ("CLEC") that designs,
constructs, operates and manages state-of-the-art fiber optic networks and
facilities in 18 markets, primarily through joint ventures in the eastern half
of the United States. Hyperion is an 89% owned subsidiary of Adelphia, the
seventh largest cable television operator in the United States, which currently
serves approximately 1.8 million subscribers in 15 states.
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