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Cablevision may join auction for control of firm

Tuesday, March 29, 2005 | 9:31 a.m.

Cablevision Systems is in advanced talks to join two big private equity firms that are bidding for Adelphia Communications, adding an 11th-hour twist to an auction that had seemed certain to be won by a bid from another team comprised of the nation's two biggest cable operators, executives involved in the process said.

If Cablevision jumps into the battle for Adelphia, it would face its longtime rival, Time Warner, which is allied with Comcast in the auction. The Time Warner-Comcast alliance in recent weeks has appeared close to reaching a final agreement for control of the company by paying more than $18 billion in stock, according to the executives.

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