Former Renaissance Cable and CableVision Industries Inc. vice chairman Rod
Cornelius is close to becoming the next CEO of Adelphia Communications Corp.,
sources said.
According to several sources, Adelphia is in negotiations with Cornelius, and
an announcement could be made in the next few weeks. The troubled Coudersport,
Pa.-based MSO named Cornelius to its board of directors in August.
Adelphia has been looking for a permanent CEO since May, when its founder,
John Rigas, stepped down as chairman and was replaced by board member Erland
Kailbourne. In addition to serving as chairman, Kailbourne is also Adelphia's
acting CEO.
Early candidates rumored for the CEO spot included cable legends Amos
Hostetter and Leo J. Hindery Jr., as well as AT&T Broadband president
William Schleyer.
Rigas -- along with his sons, chief financial officer Timothy Rigas and
executive vice president of operations Michael Rigas -- was arrested by U.S.
postal inspectors July 24 on charges of conspiracy, wire fraud, mail fraud and
bank fraud.
'While Adelphia has said all along that it is in the process of identifying a
permanent CEO, it will not comment on rumor or speculation until that process is
completed,' spokesman Eric Andrus said.
While nothing is finalized yet, most observers said Cornelius would be an
excellent choice to lead the embattled MSO.
Former CVI chairman Alan Gerry, while not claiming to have any knowledge of
Adelphia's plans, said nevertheless that Cornelius would be a good choice.
'He is probably one of the brightest people out there,' Gerry said of
Cornelius, who worked for Gerry for 15 years. 'He wasn't high-profile, but he
was my right-hand man for much of that 15 years.'
