"There has long been an issue about the cable assets," Mr. Noglows said.

Indeed, it was too much debt to be supported by the Rigases' cable assets.

The company's assets were believed to have been put in a family trust, which is now selling the cable assets.

Time Warner has also been an aggressive buyer of cable assets.

Cablevision, after all, is one of the most prized cable assets, with three million subscribers in and around New York.

Mr. Dolan, on the other hand, may be thinking about how to pick apart his company and sell the cable assets.

Beyond all this, the company is now armed with growing cable assets and is becoming a force in global communications.

Q. Adelphia has said it is going to sell some of its best cable assets.

Even if Adelphia skirts bankruptcy, it will probably sell some of its best cable assets, making the stock less attractive to investors.

Investors interested in acquiring some of Adelphia's cable assets have already begun looking at their financial reports.