Judge Allows Adelphia to Hire 2 Executives

Adelphia Communications Corp. won a judge’s approval to hire two executives to lead the cable-television operator out of bankruptcy reorganization, rejecting shareholder objections that the men would be overpaid.

U.S. Bankruptcy Judge Robert Gerber approved hiring William Schleyer as chief executive and chairman and Ronald Cooper as chief operating officer. Adelphia’s board hired the men in January under three-year contracts worth as much as $41 million.