DENVER-Adelphia Communications Inc., the country's fifth largest cable TV company, will move its headquarters to Denver. The bankrupt and scandal-ridden company, which currently is based in the rural town of Coudersport, PA, will bring about 150 executives to Denver. About 1,400 of Adelphia's 14,00 employees will remain in Coudersport.

“Moving our corporate headquarters to the Denver area is essential to the rebuilding of Adelphia into a successful and profitable cable company for a number of reasons,” according to the company.”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. In addition, the move to a major transportation hub will make it easier for Adelphia's senior managers to travel to and from our eight regional operational centers, including our largest market in Southern California.”

The bankruptcy court still must approve the move, and some shareholders believe it will be too costly and may oppose it.