By Eileen Buckley
Buffalo, NY – Adelphia Communications says it was unable to make Tuesday's extended deadline for filing its annual report with the Securities and Exchange Commission. The company says it needs extra time to work with its accounting firm on how to treat $2.3 billion dollars in previously undisclosed debt. Adelphia says it will file the report as soon as it can.
Buffalo Common Council members want assurances from Adelphia Communications for its planned multi-million dollar operations center on the city's waterfront.
Lawmakers approved two resolutions Tuesday. One of them asks Adelphia and CEO John Rigas to attend an April 24th community development committee meeting. Council president James Pitts says he specifically wants John Rigas to attend to find out what impact Adelphia's fiscal troubles will have on the city.
"We're going to sit down and work with Adelphia to make sure the cable system we have in the city is the best that it can be," Pitts said. "Even if there is a take-over or a merger, we have to be involved in that. We're getting prepared to deal with that as well."
The Council also adopted a resolution calling on Adelphia to provide the city with a written update on the "state of Adelphia" and the new operation center for Buffalo.