Adelphia board greenlights Denver HQ move
Denver, once considered cable's capital, might get to hang on to the last shreds of that claim if a decision by the Adelphia Communications board to move the MSO's corporate headquarters to the Mile High City passes muster with a bankruptcy judge.
Ending weeks of speculation, Adelphia announced the board authorization late Tuesday afternoon. The decision could move about 150 high-paying, senior-level jobs to Denver.
Many of the MSO's operational groups — about 1,400 Adelphia employees — will remain in Coudersport, Pa., the operator's current hometown. Groups slated to stay in Pennsylvania include the company's advanced products customer care center, national inbound sales, outbound calling services, Internet protocol data center, human resources, engineering, legal and regulatory, accounting and finance, and certain information technologies.
The MSO said the relocation would allow the MSO to tap into a large pool of cable talent still based in Denver, noting that the move "is essential to the rebuilding of Adelphia." That pool increased in depth several-fold late last year when Philadelphia-based Comcast Corp. absorbed AT&T Broadband and decided to keep its headquarters in the City of Brotherly Love.
"Denver is a leading center of the cable industry, and the relocation will help Adelphia attract and retain the best management team in the cable industry from Denver's excellent pool of experienced cable executives as well as from across the nation," Adelphia said, in a press release. Still, some of the estimated 150 employees who will work in Denver include current Adelphia executives.
Adelphia said it expects to complete the move by mid-year, if it obtains the requisite approvals, including the go-ahead from the Bankruptcy Court for the Southern District of New York. That court is also charged with approving the hiring of Bill Schleyer as chairman and CEO, and Ron Cooper as president and chief operating officer, who are slated to be paid a combined $41 million over three years.