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Time Warner Cable spin-off gets green light

Fri, 02/13/2009 - 7:30am
Brian Santo

Time Warner’s spin-off of Time Warner Cable cleared its last regulatory hurdle with approval of the move from the Internal Revenue Service (IRS).

The separation should be completed before the end of spring.

On Feb. 11, the Time Warner deal got the thumbs up from the Federal Communications Commission (story here). The approval from the IRS was the last approval required to proceed with the spin-off.

Time Warner said: “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.”

More Broadband Direct 02/13/09:
•  Stimulus bill directs FCC to create broadband policy
•  Mediacom serves up free basic tier until June 12
•  Charter prepares for Chapter 11 filing
•  Time Warner Cable spin-off gets green light
•  Verizon names Killian as CFO
•  Cablevision buying back $1.4B in debt
•  BigBand swings to profit, lays off 10%
•  Consumer groups: FTC online ad policy falls short
•  Embarq 4Q profit flat on lower sales
•  Broadband Briefs for 02/13/09

 

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