Statement From Time Warner and Time Warner Cable on Completion of Regulatory Reviews Related to Separation of Two Companies
On Track to Separate by End of Current Quarter
NEW YORK – Time Warner Inc. (NYSE:TWX) and Time Warner Cable Inc. (NYSE:TWC) today issued the following statement regarding the regulatory and other reviews related to the separation of the two companies:
"With today’s favorable IRS ruling, we’re pleased to report that all regulatory and other necessary governmental reviews of the pending separation of Time Warner and Time Warner Cable are concluded. Now we’re working through the process to achieve the separation. That process is on track and expected to be completed by the end of the current quarter.”
About Time Warner Inc.
Time Warner Inc. is a leading media and entertainment company, whose businesses include interactive services, cable systems, filmed entertainment, television networks and publishing.
About Time Warner Cable Inc.
Time Warner Cable is the second-largest cable operator in the U.S., with technologically advanced, well-clustered systems located mainly in five geographic areas — New York State (including New York City), the Carolinas, Ohio, southern California (including Los Angeles) and Texas. As of December 31, 2008, Time Warner Cable served more than 14 million customers who subscribed to one or more of its video, high-speed data and voice services, representing more than 34 million revenue generating units. For additional information about Time Warner Cable, visit www.timewarnercable.com.
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