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Time Warner Cable to Spin-off From Time Warner

Authored by Mark Hefflinger on February 20, 2009 - 8:06am.
New York - After receiving approval for the move from the Federal Communications Commission (FCC) earlier this month, Time Warner (NYSE: TWX) said yesterday that it will go ahead with the spin off of its Time Warner Cable unit.

The transaction, a "spin-off distribution involving a pro rata dividend of all of the Time Warner Cable common stock held by Time Warner to Time Warner stockholders," is expected to be completed by the end of the current quarter.

Under the plan announced last year, a total of $9.25 billion would be paid in one-time dividends.

 

Related Links:
http://www.businesswire.com/news/home/20090219006218/en

http://www.reuters.com/article/innovationNews/idUSTRE51J0DG20090220

Published in DMW Daily, February 20, 2009
tags: Deals | FCC | Time Warner Cable | Time Warner | Spin-Offs |



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