Advertisement
News
Advertisement

Time Warner Cable sells off systems

Fri, 07/11/2008 - 8:30am
Mike Robuck

Time Warner Cable announced late yesterday afternoon that it’s selling a small group of “non-core” cable systems to Windjammer Communications.

The systems serve approximately 80,000 basic video subscribers and 120,000 revenue-generating units spread across more than 125 headends in 25 states. Time Warner Cable said the systems were located in areas outside of the company’s core geographic clusters.

Time Warner Cable said the sale of these systems was not expected to have a material impact on the company’s ongoing financial results, but Time Warner Cable’s second-quarter results will reflect a pre-tax, non-cash loss on the sale of these systems of approximately $45 million, which will be included as a component of operating income.

The sale to Windjammer Communications is expected to close during the fourth quarter of this year once it clears the customary regulatory approvals.

Windjammer is a joint venture between Mast Capital Management and Communications Construction Services.

More Broadband Direct:

• Martin to propose sanctions against Comcast

• OMB rejects FCC's new leased access requirements

• Time Warner Cable sells off systems

• Concurrent providing VOD equipment for TWC in Calif.

• Dish Network announces launch of 17 more HD channels

• SMC Networks' cable modem gets MEF certification

• AT&T, AOL to also block child porn

• Connected Nation, ECA form partnership

• Broadband Briefs for 7/11/08

Advertisement

Share This Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading