But the glimmer of hope comes in the fact that Adelphia refuses to sign off on its bankruptcy. The company owns the extremely lucrative cable-TV rights in Los Angeles and is looking at the matter philosophically. In basic terms, company policy is, We got robbed. We have to accept our losses in that regard and continue to make profits to compensate for those losses. It may take a few years, but our properties are so valuable that there is no sense turning them over to a bankruptcy court for 10 cents on the dollar.
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