Wednesday, February 14, 2007

TWC Now Public

Red Herring reports that TWC is now a public company. TW Cable used the Adelphia shell to do a wrap-up.
Time Warner said Tuesday that its subsidiary Time Warner Cable has become a public company as a result of the completion of Adelphia Communications’ bankruptcy plan ....The end of the two-year-long bruising fight with Adelphia’s shareholders opened the door for Time Warner to choose the easy route to taking its cable business public. .....Using Adelphia as its shell, Time Warner Cable was able to avoid a formal initial public offering, according to Time Warner. The New York City-based media giant said it expects Time Warner Cable Class A common stock to be listed on the New York Stock Exchange, under the “TWC” symbol, and start trading as early as March 1.

No comments: