NEW YORK — Cabler Century Communications’ net loss for the fiscal quarter that ended May 31 narrowed to $16 million from $23.7 million, and revenue rose 7% to $132 million compared with a year ago.
The company, which owns 72 cable TV systems in 25 states and Puerto Rico, has about 1.3 million subscribers.
Century agreed in March to be acquired by cabler Adelphia Communications and the merger is expected to be finalized by year’s end. Century noted, however, that if the deal fails to close and it turns to another partner within 24 months of the termination date, the company would owe Adelphia a $100 million breakup fee.
Century shares closed up 34¢ to $44.53 on Friday.