New York - Time Warner Inc. announced on Tuesday that Time Warner Cable has become a public company, as a result of Adelphia Communications' Chapter 11 plan having become effective today.

The company had planned to go public with a traditional initial public offering, but withdrew that application with the SEC today; Time Warner Cable shares are expected to begin trading as early as March 1.

Adelphia was the nation's fifth-largest cable company before it declared bankruptcy; Time Warner Cable paid $8.9 billion in cash and 156 million shares for Adelphia's assets.

"Becoming a public company is the latest step in creating a Time Warner Cable with greater scale, improved subscriber clusters, stronger growth opportunities and enhanced strategic flexibility," said Time Warner Cable president and CEO Glenn Britt.

"Our aggressive integration efforts of the newly acquired systems are ongoing, and we're making progress toward preparing these systems to offer Time Warner Cable's advanced services."

Related Links:

http://biz.yahoo.com/bw/070213/20070213005911.html?.v=1

http://tinyurl.com/27b4c4 (Reuters)

http://www.timewarnercable.com