ADELPHIA COMMUNICATIONS CORP
8-K, 1994-04-27
CABLE & OTHER PAY TELEVISION SERVICES
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<PAGE>
 
                       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) April 27, 1994



                      ADELPHIA COMMUNICATIONS CORPORATION
             (Exact name of registrant as specified in its charter)

   Delaware                    0-16014                     23-2417713
(State or other              (Commission                  (IRS Employer
jurisdiction of              File Number)               Identification No.)
incorporation)
 

5 West Third Street - P.O. Box 472, Coudersport, PA                 16915
(Address of principal executive offices)                         (ZIP Code)



       Registrant's telephone number, including area code (814) 274-9830
<PAGE>
 
Item 5.  Other Events.

     On April 27, 1994, Adelphia Communications Corporation (the "Company")
announced that it has extended the Expiration Date of its Exchange Offer with
respect to its $150,000,000 9-1/2% Senior Pay-In-Kind Notes Due 2004, due to the
closure of financial markets on April 27, 1994 in memory of former President
Nixon.  The Expiration Date was extended to 5:00 p.m., New York City time on
April 29, 1994 from the previous date of 5:00 p.m., New York City time on April
27, 1994.  The Company issued a press release, dated April 27, 1994, a copy of
which is attached hereto as Exhibit 99.01 and is incorporated by reference
herein.
<PAGE>
 
Item 7.  Financial Statements and Exhibits.

     (c)  The following exhibit is filed as part of this report on Form 8-K:

          Exhibit 99.01   Press Release by Adelphia Communications Corporation
                          dated April 27, 1994.
<PAGE>
 
                                   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:  April 27, 1994                   ADELPHIA COMMUNICATIONS CORPORATION
                                        (Registrant)



                                        /s/ Timothy J. Rigas
                                        Timothy J. Rigas
                                        Senior Vice President
<PAGE>
 
                                 Exhibit Index


<TABLE>
<CAPTION>
Exhibit No.         Description

<S>                 <C>
Exhibit 99.01       Press Release by Adelphia Communications Corporation dated
                    April 27, 1994.
</TABLE>

<PAGE>
 
                                 Exhibit 99.01


FOR RELEASE:   IMMEDIATE

CONTACT:       Timothy J. Rigas, Senior Vice President
               (814) 274-9830


ADELPHIA COMMUNICATIONS EXTENDS EXCHANGE OFFER TO APRIL 29, 1994
         Coudersport, PA - April 27, 1994


Adelphia Communications Corporation ("Adelphia") (NASDAQ-NMS: ADLAC) announced
today that it has extended the Expiration Date of its Exchange Offer with
respect to its $150,000,000 aggregate principal amount of 9-1/2% Senior Pay-In-
Kind Notes Due 2004.  The Expiration Date for the Exchange Offer has been
extended to 5:00 p.m. New York City time on April 29, 1994, from the previous
date of 5:00 p.m. New York City time on April 27, 1994.  In the Exchange Offer,
Adelphia is offering to exchange new 9-1/2% Senior Pay-In-Kind Notes Due 2004,
Series B, which are registered under the Securities Act of 1933 for its
outstanding 9-1/2% Senior Pay-In-Kind Notes Due 2004, Series A, which were
privately placed to qualified institutional investors.  Adelphia announced that
the extension was due to the closure of financial markets today in memory of
former President Nixon.  To the best of Adelphia's information and belief, as of
April 26, 1994, approximately 66% of the 9-1/2% Senior Pay-In-Kind Notes Due
2004, Series A, had been tendered for exchange.  The Exchange Agent for the
Exchange Offer is Bank of Montreal Trust Company, New York, New York.


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