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) January 21, 2000
ADELPHIA COMMUNICATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-16014 23-2417713
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
One North Main Street - Coudersport, PA 16915-1141
(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 January 21, 2000, Adelphia Communications Corporation and Highland
2000, L.P. consummated the stock purchase agreement ("Agreement") dated April 9,
1999 between Adelphia and Highland Holdings. Highland 2000, L.P. and Highland
Holdings are Rigas family partnerships. Pursuant to the Agreement, Highland
Holdings assigned its rights to Highland 2000, L.P. and Highland 2000, L.P.
purchased 5,901,522 shares of newly issued Class B Common Stock from Adelphia
for $375 million, which represented a per share purchase price under the
Agreement of $60.76 plus an interest factor.
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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: January 31, 2000 ADELPHIA COMMUNICATIONS CORPORATION
(Registrant)
By: /s/ Timothy J. Rigas
Timothy J. Rigas
Executive Vice President, Treasurer
and Chief Financial Officer
