-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IBxuQ4QRAHfscTWaeFgKeCBdV38V+HYayNcOsdybfJ2FEwbvKXAK3DUKcp6EVSix GRzfAbSlAxS6wCCwPEU+/g== 0000914317-03-002021.txt : 20030711 0000914317-03-002021.hdr.sgml : 20030711 20030711171917 ACCESSION NUMBER: 0000914317-03-002021 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20030711 GROUP MEMBERS: CHARLES E. DAVIDSON GROUP MEMBERS: JOSEPH M. JACOBS GROUP MEMBERS: SOLITAIR CORP GROUP MEMBERS: TAURUS INVESTORS LLC GROUP MEMBERS: VALENTIS INVESTORS LLC GROUP MEMBERS: WEXFORD CAPITAL LLC GROUP MEMBERS: WEXFORD SPECTRUM INVESTORS LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ADELPHIA COMMUNICATIONS CORP CENTRAL INDEX KEY: 0000796486 STANDARD INDUSTRIAL CLASSIFICATION: CABLE & OTHER PAY TELEVISION SERVICES [4841] IRS NUMBER: 232417713 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-37634 FILM NUMBER: 03784258 BUSINESS ADDRESS: STREET 1: 1 NORTH MAIN STREET CITY: COUDERSPORT STATE: PA ZIP: 16915 BUSINESS PHONE: 8142749830 MAIL ADDRESS: STREET 1: 1 NORTH MAIN STREET CITY: COUDERSPORT STATE: PA ZIP: 16915 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WEXFORD CAPITAL LLC CENTRAL INDEX KEY: 0001048462 IRS NUMBER: 061442624 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 411 W PUTNAM AVENUE CITY: GREENWICH STATE: CT ZIP: 06830 BUSINESS PHONE: 2038627000 MAIL ADDRESS: STREET 1: 411 W PUTNAM AVENUE CITY: GREENWICH STATE: CT ZIP: 06830 FORMER COMPANY: FORMER CONFORMED NAME: WEXFORD MANAGEMENT LLC DATE OF NAME CHANGE: 19971024 SC 13D 1 form13d-53170_wexford.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.__) ADELPHIA COMMUNICATIONS CORP. ----------------------------- (Name of issuer) 13% Series B Cumulative Exchangeable Preferred Stock, Par Value $0.01 Per Share - -------------------------------------------------------------------------------- (Title of class of securities) 006848303 --------- (CUSIP number) Arthur H. Amron, Esq. Wexford Capital LLC 411 West Putnam Avenue Greenwich, CT 06830 (203) 862-7012 - -------------------------------------------------------------------------------- (Name, address and telephone number of person authorized to receive notices and communications) July 10, 2003 (Date of event which requires filing of this statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box [ ]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or other subject to the liabilities of that section of Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 19 Pages CUSIP No. 006848303 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Spectrum Investors, LLC I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [_] (See Instructions) (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) OO - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially ------------------------------------------------------- Owned by Each 8. Shared Voting Power (see Item 5 below) 161,500 Reporting ------------------------------------------------------- Person With 9. Sole Dispositive Power 0 ------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 161,500 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 161,500 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 10.77% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO Page 2 of 19 Pages CUSIP No. 006848303 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. WI Software Investors LLC I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [_] (See Instructions) (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) OO - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially -------------------------------------------------------- Owned by Each 8. Shared Voting Power (see Item 5 below) 70,800 Reporting -------------------------------------------------------- Person With 9. Sole Dispositive Power 0 -------------------------------------------------------- 10.Shared Dispositive Power (see Item 5 below) 70,800 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 70,800 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 4.72% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- Page 3 of 19 Pages CUSIP No. 006848303 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. Solitair Corp. I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [_] (See Instructions) (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) OO - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power Beneficially 0 --------------------------------------------------- Owned by Each 8. Shared Voting Power (see Item 5 below) Reporting 51,400 --------------------------------------------------- Person With 9. Sole Dispositive Power 0 - -------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 51,400 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 51,400 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 3.43% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- Page 4 of 19 CUSIP No. 006848303 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. Taurus Investors LLC I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [_] (See Instructions) (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) OO - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power Beneficially 0 ----------------------------------------------- Owned by Each 8. Shared Voting Power (see Item 5 below) Reporting 167,300 ----------------------------------------------- Person With 9. Sole Dispositive Power 0 - -------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 167,300 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 167,300 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 11.15% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- Page 5 of 19 Pages CUSIP No. 006848303 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. Charles E. Davidson I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [_] (See Instructions) (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) N/A - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially ------------------------------------------------------- Owned by Each 8. Shared Voting Power (see Item 5 below) 451,000 Reporting ------------------------------------------------------- Person With 9. Sole Dispositive Power 0 ------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 451,000 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 451,000 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 30.07% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- Page 6 of 19 Pages CUSIP No. 006848303 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. Joseph M. Jacobs I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [_] (See Instructions) (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) N/A - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially --------------------------------------------------------- Owned by Each 8. Shared Voting Power (see Item 5 below) 451,000 Reporting --------------------------------------------------------- Person With 9. Sole Dispositive Power 0 --------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 451,000 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 451,000 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 30.07% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- Page 7 of 19 Pages CUSIP No. 006848303 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Capital LLC I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [_] (See Instructions) (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) N/A - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Connecticut - -------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially --------------------------------------------------------- Owned by Each 8. Shared Voting Power (see Item 5 below) 451,000 Reporting --------------------------------------------------------- Person With 9. Sole Dispositive Power 0 --------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 451,000 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 451,000 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 30.07% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- Page 8 of 19 Pages Item 1. Security and Issuer. -------------------- This Schedule 13D relates to the 13% Series B Cumulative Exchangeable Preferred Stock, $0.01 par value per share (the "Preferred Stock"), of Adelphia Communications Corp. (the "Company"). The principal executive offices of the Company are located at One North Main Street, Coudersport, Pennsylvania 16915. Item 2. Identity and Background. ------------------------ (a) This Schedule 13D is being jointly filed by (i) Wexford Spectrum Investors, LLC, a Delaware limited liability company ("Wexford Spectrum"), (ii) WI Software Investors LLC, a Delaware limited liability company ("WISI"), (iii) Solitair Corp., a Delaware corporation ("Solitair"), (iv) Taurus Investors, LLC, a Delaware limited liability company ("Taurus", and together with Wexford Spectrum, WISI and Solitair, the "Stockholders"), (v) Wexford Capital LLC, a Connecticut limited liability company ("Wexford Capital"), (vi) Charles E. Davidson and (vii) Joseph M. Jacobs (the individuals and entities referred to above, collectively, the "Reporting Persons"). (b) The principal business and office address for the Reporting Persons is c/o Wexford Capital LLC, 411 West Putnam Avenue, Suite 125, Greenwich, Connecticut 06930. (c) Each of Wexford Spectrum, WISI and Taurus is a Delaware limited liability company, the members of which are private investment funds. Each of Wexford Spectrum, WISI and Taurus was organized for the purpose of making various investments. Solitair is a Delaware corporation, owned 100% by private investment funds. Wexford Capital, a Connecticut limited liability company, is a registered Investment Advisor and the investment advisor to the Stockholders. Wexford Capital also serves as an investment advisor or sub-advisor to the members of Wexford Spectrum, WISI, Taurus and the stockholders of Solitair. Charles E. Davidson, a United States citizen, is chairman, a managing member and a controlling member of Wexford Capital. Mr. Davidson is a controlling person or an investor in a number of private companies, including certain members of Wexford Spectrum, WISI and Taurus and the stockholders of Solitair. Joseph M. Jacobs, a United States citizen, is president, a managing member and a controlling member of Wexford Capital. Mr. Jacobs is a controlling person or an investor in a number of private companies, including certain members of Wexford Spectrum, WISI and Taurus and the stockholders of Solitair. During the last five years, none of the Reporting Persons has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws. Page 9 of 19 Pages Item 3. Source and Amount of Funds or Other Consideration. -------------------------------------------------- The Preferred Stock was purchased in open market transactions using funds ($4,136,060) of the Stockholders. No part of the purchase price was represented by funds or other consideration borrowed or otherwise obtained for the purpose of acquiring, holding, trading or voting the Preferred Stock. Item 4. Purpose of Transaction. ----------------------- The Reporting Persons consider the acquisition and ownership of the Preferred Stock to be an investment. Notwithstanding the foregoing, pursuant to Section 6 of the Company's Certificate of Designations, Preferences and Relative Participating Optional and Other Special Rights of Preferred Stock and Qualifications, Limitations and Restrictions Thereof (the "Certificate"), upon the occurrence of certain events specified therein (each such event, a "Voting Rights Triggering Event"), the holders of a majority of the outstanding shares of the Preferred Stock (including any shares of Preferred Stock held by affiliates of the Company), voting as a separate class, are entitled to elect two additional members to the Board of Directors of the Company. Voting rights arising as a result of a Voting Rights Triggering Event continue until such time as all dividends in arrears on the Preferred Stock are paid in full, and all other Voting Rights Triggering Events have been cured or waived. By letter dated July 10, 2003, Wexford Capital, on behalf of holders of a majority of the outstanding shares of Preferred Stock (the "Majority Preferred Stockholders"), advised the Company that based upon the occurrence of one or more Voting Rights Triggering Events, the Majority Preferred Stockholders, pursuant to a written consent in the form attached to such letter, were exercising their right to elect two additional members to the Board of Directors and were designating Arthur H. Amron and Talton R. Embry to serve in such positions. Mr. Amron is a principal of Wexford Capital. Except as set forth above, none of the Reporting Persons have any plans or proposals which relate to or would result in (a) the acquisition by any person of additional securities of the Company or the disposition of securities of the Company, (b) an extraordinary corporate transaction, such as a merger, reorganization, or liquidation, involving the Company or any of its securities, (c) a sale or transfer of a material amount of the assets of the Company or any of its subsidiaries, (d) any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) any material change in the present capitalization or dividend policy of the Company, (f) any other material change in the Company's business or corporate structure, (g) changes in the Company's charter, bylaws, or instruments corresponding thereto or other actions which may impede the acquisition of control of the Company by any person, (h) causing a class of the securities of the Company to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association, (i) a class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Exchange Act, or (j) any action similar to any of those enumerated above. However, Wexford retains its rights to modify its plans with respect to the transactions described in this Item 4, to acquire or dispose of securities of the Company and to formulate plans and proposals that could result in the occurrence of any such events, subject to applicable laws and regulations. Page 10 of 19 Pages Item 5. Interest in Securities of the Issuer. ------------------------------------ The Reporting Persons may be deemed to own beneficially the respective percentages and numbers of shares of Preferred Stock set forth below (assuming 1,500,000 shares of Preferred Stock issued and outstanding on July 10, 2003): Wexford Spectrum Investors, LLC (a) Amount beneficially owned: 161,500 (b) Percent of class: 10.77% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 161,500 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 161,500 WI Software Investors LLC (a) Amount beneficially owned: 70,800 (b) Percent of class: 4.72% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 70,800 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 70,800 Solitair Corp. (a) Amount beneficially owned: 51,400 (b) Percent of class: 3.43% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 51,400 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 51,400 Page 11 of 19 Pages Taurus Investors LLC (a) Amount beneficially owned: 167,300 (b) Percent of class: 11.15% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 167,300 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 167,300 Charles E. Davidson (a) Amount beneficially owned: 451,000 (b) Percent of class: 30.07% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 451,000 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of:451,000 Joseph M. Jacobs (a) Amount beneficially owned: 451,000 (b) Percent of class: 30.07% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 451,000 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 451,000 Wexford Capital LLC (a) Amount beneficially owned: 451,000 (b) Percent of class: 30.07% Page 12 of 19 Pages (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 451,000 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 451,000 Wexford Capital may, by reason of its status as investment advisor to the Stockholders, be deemed to own beneficially the shares of Preferred Stock of which the Stockholders possess beneficial ownership. Each of Charles E. Davidson and Joseph M. Jacobs may, by reason of his status as a controlling person of Wexford Capital, be deemed to own beneficially the shares of Preferred Stock of which the Stockholders possess beneficial ownership. In addition, all of the directors of Solitair are members of Wexford Capital. Each of Charles E. Davidson, Joseph M. Jacobs and Wexford Capital shares the power to vote and to dispose of the shares of Preferred Stock beneficially owned by the Stockholders. Except as set forth above, the Reporting Persons have not effected any transactions in the Preferred Stock during the 60 days preceding the date of this Schedule 13D. Item 6. Contracts, Arrangements, Understandings or Relationships, with Respect to Securities of the Issuer. -------------------------------------------------------- None of the Reporting Persons are a party to any contract, arrangement, understanding or relationship (legal or otherwise) with any person with respect to any securities of the Company, including, but not limited to, any agreement concerning (i) transfer or voting of any securities of the Company, (ii) finder's fees, (iii) joint venture, (iv) loan or option arrangements, (v) puts or calls, (vi) guarantees of profits, (vii) divisions of profits or losses, or (viii) the giving or withholding of proxies. Item 7. Material to be Filed as Exhibits. --------------------------------- 1. Joint Filing Agreement. 2. Certificate of Designations for 13% Series A and Series B Cumulative Exchangeable Preferred Stock (incorporated by reference to Exhibit 3.01 to the Company's Current Report on Form 8-K, dated July 1997)(File Number 0-16014) 3. Letter to the Company, dated July 10, 2003, relating to designation of directors, together with form of written consent of holders of a majority of the 13% Series B Cumulative Exchangeable Preferred Stock. * * * * * Page 13 of 19 Pages SIGNATURE --------- After reasonable inquiry and to the best of each of the undersigned's knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: July 10, 2003 WEXFORD SPECTRUM INVESTORS LLC By: /s/ Arthur H. Amron ----------------------------- Name: Arthur H. Amron Title: Vice President WI SOFTWARE INVESTORS LLC By: /s/ Arthur H. Amron ------------------------------ Name: Arthur H. Amron Title: Vice President TAURUS INVESTORS LLC By: /s/ Arthur H. Amron ------------------------------ Name: Arthur H. Amron Title: Vice President SOLITAIR CORP. By: /s/ Arthur H. Amron ------------------------------ Name: Arthur H. Amron Title: Vice President WEXFORD CAPITAL LLC By: /s/ Arthur H. Amron ------------------------------ Name: Arthur H. Amron Title: Principal and Secretary /s/ Charles E. Davidson ------------------------------------- CHARLES E. DAVIDSON /s/ Joseph M. Jacobs ------------------------------------- JOSEPH M. JACOBS Page 14 of 19 Pages EX-1 3 exhibit1.txt EXHIBIT 1 Joint Filing Agreement Pursuant to Rule 13d-1(k)(1)(iii) of the Securities Exchange Act of 1934, each of the undersigned agrees that a single joint Schedule 13D and any amendments thereto may be filed on behalf of each of the undersigned with respect to securities held by each of them in Adelphia Communications Corp. Dated: July 10, 2003 WEXFORD SPECTRUM INVESTORS LLC By: /s/ Arthur H. Amron ----------------------------- Name: Arthur H. Amron Title: Vice President WI SOFTWARE INVESTORS LLC By: /s/ Arthur H. Amron ------------------------------ Name: Arthur H. Amron Title: Vice President TAURUS INVESTORS LLC By: /s/ Arthur H. Amron ------------------------------ Name: Arthur H. Amron Title: Vice President SOLITAIR CORP. By: /s/ Arthur H. Amron ------------------------------ Name: Arthur H. Amron Title: Vice President WEXFORD CAPITAL LLC By: /s/ Arthur H. Amron ------------------------------ Name: Arthur H. Amron Title: Principal and Secretary /s/ Charles E. Davidson ------------------------------------- CHARLES E. DAVIDSON /s/ Joseph M. Jacobs ------------------------------------- JOSEPH M. JACOBS Page 15 of 19 Pages EX-3 4 exhibit3.txt WEXFORD - -------------------------------------------------------------------------------- EXHIBIT 3 Wexford Capital LLC --------- Wexford Plaza 411 West Putnam Avenue Greenwich, CT 06830 www.wexford.com (203) 862-7000 Direct Dial: 862-7412 Direct Fax: 862-7452 mzand@wexford.com July 10, 2003 Adelphia Communications Corp. One North Main Street Coudersport, PA 16915-1141 Attn: Corporate Secretary Dear Sir or Madam: We are writing on behalf of (a) Taurus Investors LLC, Wexford Spectrum Investors LLC, Solitair Corp. and WI Software Investors LLC (collectively, the "Wexford Shareholders") each of which is managed by Wexford Capital LLC, (b) Magten Asset Management Corp. ("Magten"), and (c) limited partnerships managed by The Baupost Group, L.L.C. ("Baupost," and collectively with the Wexford Shareholders and Magten, the "Shareholders"). Collectively, the Shareholders are the beneficial owners of a majority of Adelphia 13% Series B Cumulative Exchangeable Preferred Stock (the "Series B Preferred"). The Wexford Shareholders presently are the beneficial owners of 451,000 shares of the Series B Preferred; Magten presently is the beneficial owner of 241,090 shares of Series B Preferred; and Baupost presently is the beneficial owner of 192,500 shares of Series B Preferred. Based upon the occurrence of one or more Voting Rights Triggering Events under Section 6(a) of the Certificate of Designations, Preferences and Relative, Participating, Optional and Other Special Rights of Preferred Stock and Qualifications, Limitations and Restrictions Thereof (the "Certificate") relating to the Series B Preferred, the holders of Series B Preferred are entitled to elect two directors of the corporation. We will be sending to you under separate cover consents (in the form attached hereto) executed by the record holders of the shares of Series B Preferred beneficially held by the Shareholders exercising such right and designating Arthur H. Amron and Talton R. Embry to serve in such positions. The contact information for each of Mr. Amron and Mr. Embry is as follows: Page 16 of 19 Pages Arthur H. Amron Principal & General Counsel Wexford Capital LLC 411 West Putnam Avenue Greenwich, CT 06830 Phone: 203-862-7000 Fax: 203-862-7312 Talton R. Embry Managing Director Magten Asset Mangement Corp 410 Park Avenue New York, NY 10022 Phone: 212-813-0900 Fax: 212-813-9058 We appreciate your prompt attention to this notice. Messrs. Amron and Embry look forward to working with the Company, its managment and the other members of the board of directors as the Company proceeds through its chapter 11 process and develops its plan of reorganization. Sincerely, Mark Zand Principal Cc: Arthur Amron Talton Embry Reuben Munger Scott Stone Page 17 of 19 Pages ADELPHIA COMMUNICATIONS CORPORATION a Delaware corporation WRITTEN CONSENT OF HOLDERS OF 13% SERIES B CUMULATIVE EXCHANGEABLE PREFERRED STOCK The undersigned, being a record holder of shares of 13% Series B Cumulative Exchangeable Preferred Stock ("Series B Exchangeable Preferred Stock") of Adelphia Communications Corporation (the "Corporation"), hereby consents, pursuant to Section 228 of the Delaware General Corporation Law with respect to the number of shares of Series B Exchangeable Preferred Stock owned by the undersigned indicated below, to the adoption of the following recitals and resolutions: WHEREAS, the Certificate of Designations, Preferences and Relative, Participating, Optional and Other Special Rights of Preferred Stock and Qualifications, Limitations and Restrictions Thereof of 13% Series A Cumulative Exchangeable Preferred Stock and 13% Series B Cumulative Exchangeable Preferred Stock of Adelphia Communications Corporation (the "Certificate of Designations") provides that, upon the occurrence of a Voting Rights Triggering Event (as defined in the Certificate of Designations), the authorized number of members of the Corporation's Board of Directors will be automatically increased by two, and the Holders (as defined in the Certificate of Designations) of a majority of the outstanding shares of 13% Series A Cumulative Exchangeable Preferred Stock ("Series A Exchangeable Preferred Stock") and Series B Exchangeable Preferred Stock (together with the Series A Exchangeable Preferred Stock, the "Exchangeable Preferred Stock"), voting as a separate class, shall be entitled to elect two directors of the Corporation; WHEREAS, a Voting Rights Triggering Event has occurred; and WHEREAS, there are no Holders of Series A Exchangeable Preferred Stock and the Holders of Exchangeable Preferred Stock are the Holders of Series B Exchangeable Preferred Stock; NOW, THEREFORE, BE IT RESOLVED, that each of Arthur H. Amron and Talton R. Embry are hereby elected directors of the Corporation to fill the vacancies created by such automatic increase in the size of the Corporation's Board of Directors, such election to be effective as of the date on which the Corporation receives duly executed and unrevoked consents substantially in the form of this Consent from the holders of a majority of the issued and outstanding shares of Exchangeable Preferred Stock, but in no event earlier than July 17, 2003. Page 18 of 19 Pages Dated: ______________________________ Number of Shares: _________________________ Print Name: ______________________________ Signature(s): ______________________________ Signature(s): ______________________________ Authority: ______________________________ Please sign exactly as the name appears on stock certificate. If shares are held by joint tenants, both should sign. In case of joint owners, each joint owner must sign. When signing as attorney, executor, administrator, trustee, guardian, corporate officer, etc., please give full title. IN ORDER FOR YOUR CONSENT TO BE VALID, IT MUST BE DATED. Page 19 of 19 Pages -----END PRIVACY-ENHANCED MESSAGE-----