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ADELPHIA FILES REGISTRATION STATEMENT FOR COMMON STOCK

 COUDERSPORT, Pa., March 19 /PRNewswire/ -- Adelphia Communications Corporation ("Adelphia") (NASDAQ-NMS: ADLAC) announced today that it has filed a registration statement with the Securities and Exchange Commission for an offering of 10,000,000 shares of its Class A common stock.
 Adelphia expects to enter into an agreement with members of the family of John J. Rigas, its president and chief executive officer, whereby the family, at the time of effectiveness of the offering, would agree to puh?ase approximately $40,000,000 of the Class A common stock in the offering. The Class A common stock is traded on the NASDAQ National Market System under the symbol "ADLAC."
 Adelphia plans to use the net proceeds of the stock offering to redeem or repurchase its 13 percent senior subordinated notes due 1996 and to reduce existing bank debt. Salomon Brothers Inc. will act as lead underwriter for the offering, with Bear, Stearns & Co. Inc., Donaldson, Lufkin & Jenrette Securities Corporation and Lehman Brothers serving as co-managing underwriters.
 Adelphia owns or manages cable television systems in 11 states serving approximately 1,200,000 basic subscribers as of Dec. 31, 1992.
 /delval/
 -0- 3/19/93
 /CONTACT: Timothy J. Rigas, senior vice president of Adelphia, 814-274-9830/
 (ADLAC)


CO: Adelphia Communications Corporation ST: Pennsylvania IN: TLS SU: OFR

KC-DM -- PG007 -- 8010 03/19/93 16:25 EST
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Publication:PR Newswire
Date:Mar 19, 1993
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