Time Warner and Comcast are exploring a joint bid for Adelphia, the bankrupt cable company that put itself up for sale this year after some members of its founding family were convicted of fraud and conspiracy.

The two media companies, which dominate the US cable industry, were expected to bid separately for portions of Adelphia but have instead agreed to submit a joint ?confidentiality agreement? to bankers running the auction. Time Warner said: ?We are working with Comcast to explore a potential transaction with Adelphia.?