Time Warner Cable Files for $100 Million IPO

Authored by Mark Hefflinger on October 18, 2006 - 1:50pm.

New York - Time Warner Cable, the nation's second-largest cable TV provider behind Comcast, has filed for an initial public offering of $100 million. Bloomberg News reported the IPO may raise as much as $6.9 billion, with all proceeds going to creditors of the now defunct cable provider Adelphia, which Time Warner acquired in July together with Comcast for $16.7 billion in cash and Time Warner Cable stock. All told, Adelphia creditors have filed claims seeking a total of $3.98 trillion, which Adelphia has maintained exceeds its liability. Following the acquisition, Time Warner Cable became the largest cable TV provider in the New York and Los Angeles markets.
http://tinyurl.com/uo2fp (Reuters)
http://tinyurl.com/yn4jwh (Bloomberg News)
http://www.timewarner.com