8-K 1 d8k.htm CURRENT REPORT Current Report
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) October 25, 2002
 
 
OLYMPUS COMMUNICATIONS, L.P.
OLYMPUS CAPITAL CORPORATION
FRONTIERVISION OPERATING PARTNERS, L.P.
FRONTIERVISION CAPITAL CORPORATION
FRONTIERVISION HOLDINGS, L.P.
FRONTIERVISION HOLDINGS CAPITAL CORPORATION
FRONTIERVISION HOLDINGS CAPITAL II CORPORATION
ARAHOVA COMMUNICATIONS, INC.
(Exact name of registrants as specified in its charter)
 
 
 
Delaware
Delaware
Delaware
Delaware
Delaware
Delaware
Delaware
Delaware
(State or other jurisdiction of
incorporation)
 
333-19327
333-19327-01
333-9535
333-9535-01
333-36519
333-36519-01
333-75567-01
0-16899
(Commission File
Numbers)
 
25-1622615
23-2868925
84-1316775
84-1353734
84-1432334
84-1432976
84-1481765
23-1844576
(IRS Employer Identification Nos.)
One North Main Street—Coudersport, PA
(Address of principal executive offices)
 
16915-1141
(Zip Code)
 
 
Registrants’ telephone number, including area code (814) 274-9830
 


 
Item 9.    Regulation FD Disclosure
 
On October 25, 2002, Adelphia Communications Corporation (the “Company”) and certain other debtor-in-possession subsidiaries of the Company, including the registrants, filed their unaudited consolidated Monthly Operating Report for the month of September 2002 (the “Operating Report”) with United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). Exhibit 99.1 to this Current Report on Form 8-K contains the unaudited consolidated financial statements and the Bankruptcy Court reporting schedules of the Operating Report as filed with the Bankruptcy Court. The Operating Report shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth in such filing.
 
The registrants caution readers not to place undue reliance upon the information contained in the Operating Report, which contains unaudited information, and is in a format, prescribed by the applicable bankruptcy laws. The Operating Report is subject to revision. The Operating Report also contains information for periods which may be shorter or otherwise different from those contained in the registrants’ reports pursuant to the Securities Exchange Act of 1934, as amended.
 
Limitation on Incorporation by Reference
 
In accordance with general instruction B.2 of Form 8-K, the information in this report (including exhibits) is furnished pursuant to Item 9 and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended or otherwise subject to liabilities of that section. This report will not be deemed an admission as to the materiality of any information in the report that is required to be disclosed solely by Regulation FD.
 
Cautionary Statement Regarding Financial and Operating Data
 
As a result of actions taken by the former management of Adelphia Communications Corporation (the “Company”): (a) the Company has not yet completed its financial statements as of or for the year ended December 31, 2001, or received its independent public accountants’ report thereon or filed with the Securities and Exchange Commission (the “Commission”) its Form 10-K for the year ended December 31, 2001, (b) the Company’s former independent public accountants, Deloitte & Touche LLP, suspended their auditing work on the Company’s financial statements as of and for the year ended December 31, 2001 and withdrew their audit report with respect to the year ended December 31, 2000; (c) the Company has not yet completed its financial statements as of and for the three months ended March 31, 2002 or June 30, 2002, or filed with the Commission its Quarterly Report on Form 10-Q for the quarters ended March 31, 2002 or June 30, 2002 and does not expect to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2002; and (d) the Company expects to restate its financial statements for the years ended December 31, 1999 and 2000, and its interim financial statements for 2001 and possibly other periods. Current management took control in May 2002 and has retained new independent auditors and begun the preparation of new financial statements for the periods in question; as a result of certain actions of prior management that the Company has


 
previously disclosed, the Company is unable to predict at this time when such financial statements will be completed. In addition, current management believes that the public information provided by prior management on other matters of interest to investors, such as the Company’s rebuild percentage (the percentage of the Company’s cable television systems that the Company believes have been upgraded to current standards), was unreliable. As a result, the Company anticipates that it may have to supplement the financial and other information contained in this Form 8-K and that such supplemental information may be material.
 
Cautionary Statement Regarding Forward Looking Statements
 
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements regarding Adelphia Communications Corporation and its subsidiaries’ (collectively, the “Company’s”) expected future financial position, results of operations, cash flows, restructuring and financing plans, business strategy, budgets, projected costs, capital expenditures, competitive positions, growth opportunities, plans and objectives of management for future operations and statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. Such forward-looking statements are inherently uncertain, and readers must recognize that actual results may differ from the Company’s expectations. The Company does not undertake a duty to update such forward-looking statements.
 
Actual future results and trends for the Company may differ materially depending on a variety of factors discussed in the Company’s filings with the Commission, including its recently filed Current Reports on Form 8-K, the most recently filed Quarterly Report on Form 10-Q, the Form 10-K for the year ended December 31, 2000, and the most recent prospectus supplement filed under Registration Statement No. 333-64224, under the section entitled “Risk Factors” contained therein. Factors that may affect the plans or results of the Company include, without limitation: (a) the Company’s filing of a petition for relief under Chapter 11 of the United States Bankruptcy Code; (b) the results of litigation against the Company including the civil complaint by the Commission and the potential for a criminal indictment of the Company; (c) the lack of substantial cable industry experience among certain members of the Company’s senior management; (d) the effects of government regulations and the actions of local cable franchise authorities; (e) the availability of debtor-in-possession financing and surety bonds to support the Company’s operations; (f) the results of the Company’s internal investigation and the matters described above under “Cautionary Statement Regarding Financial and Operating Data”; (g) actions of the Company’s competitors; (h) the pricing and availability of equipment, materials, inventories and programming; (i) product acceptance and customer spending patterns; (j) the Company’s ability to execute on its business plans, to provide uninterrupted service to its customers and to conduct, expand and upgrades its networks; (k) technological developments; (l) matters relating to or in connection with the recent bankruptcy filing and proceedings of Adelphia Business Solutions, Inc.; (m) changes in general economic conditions and/or economic conditions in the markets in which the Company may, from time to time, compete; (n) the movement of interest rates and the resulting impact on the Company’s interest obligations with respect to its pre-petition bank debt; and (o) the delisting of Adelphia Communications

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Corporation’s common stock by Nasdaq. Many of such factors are beyond the control of the Company and its management.

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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: November 4, 2002
 
OLYMPUS COMMUNICATIONS, L.P.
(Registrant)
   
By: ACC OPERATIONS, INC.,
   
its Managing General Partner
   
By:         /s/    Christopher T. Dunstan                  
   
Christopher T. Dunstan
   
Executive Vice President, Treasurer and Chief
Financial Officer
   
OLYMPUS CAPITAL CORPORATION
(Registrant)
   
By:        /s/    ChristopherT. Dunstan                    
   
Christopher T. Dunstan
   
Executive Vice President, Treasurer and Chief
Financial Officer
   
FRONTIERVISION OPERATING
PARTNERS, L.P. (Registrant)
   
By:    FRONTIERVISION HOLDINGS, L.P.,
   
          its  General Partner
   
        By:    FRONTIERVISION PARTNERS, L.P.,
                  its  General Partner
   
                  By:    ADELPHIA GP HOLDINGS, L.L.C.,
                            its General Partner
   
                            By:    ACC OPERATIONS, INC.,
                                       its  Sole Member
   
                                       By:    /s/    Christopher T. Dunstan    
   
                                                 Christopher T. Dunstan
                                                 Executive Vice President,
                                                 Treasurer and Chief
                                                 Financial Officer

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FRONTIERVISION CAPITAL
CORPORATION (Registrant)
   
By:            /s/    Christopher T. Dunstan                    
   
        Christopher T. Dunstan
   
        Executive Vice President, Treasurer
        and Chief Financial Officer
   
    FRONTIERVISION HOLDINGS, L.P.,
    (Registrant)
   
    By:    FRONTIERVISION PARTNERS, L.P.,
   
              its General Partner
   
              By:    ADELPHIA GP HOLDINGS,
                        L.L.C., its General Partner
   
                        By:    ACC OPERATIONS, INC.,
                                  its Sole Member
   
    By:        /s/    Christopher T. Dunstan                    
   
                Christopher T. Dunstan
   
                Executive Vice President, Treasurer
                and Chief Financial Officer
   
FRONTIERVISION HOLDINGS CAPITAL
CORPORATION (Registrant)
   
    By:        /s/    Christopher T. Dunstan                    
   
                Christopher T. Dunstan
   
                Executive Vice President, Treasurer
                and Chief Financial Officer
   
FRONTIERVISION HOLDINGS II CAPITAL
CORPORATION (Registrant)
   
    By:        /s/    Christopher T. Dunstan                    
   
                Christopher T. Dunstan
   
                Executive Vice President, Treasurer
                and Chief Financial Officer

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ARAHOVA COMMUNICATIONS, INC.
(Registrant)
    
    By:        /s/ Christopher T. Dunstan                    
    
                Christopher T. Dunstan
    
                Executive Vice President, Treasurer
                and Chief Financial Officer
 

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EXHIBIT INDEX
 
Exhibit No.

  
Description

99.1
  
Monthly Operating Report for the period ended September 30, 2002, dated October 24, 2002.

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