Here's something you may not have seen:"The separation of Time Warner Cable Inc. gets Time Warner out of the media distribution business altogether, something investors had been clamoring for. The company announced its decision to split up last month and said Wednesday that the boards of the two companies had agreed to financial terms.
Time Warner Cable is the second-largest cable provider in the country after Comcast Corp. with about 13.3 million video subscribers. It has been a public company for more than a year, but Time Warner had held on to an 84 percent stake. [CBS]
Time Warner owns 85 percent of Time Warner Cable shares. Just before separation, Time Warner Cable plans to pay out a dividend of $10.27 per share, which will result in $9.25 billion going to the parent company. [BusinessWeek]
TimeWarner parent also is looking at AOL, which Google recently bailed on. Google wrote down its 2006 AOL investment and exercised its rights for TW to either buy back Google's stake in AOl or spin AOL off. [bigmoney] "AOL's quarterly revenue fell by 23 percent to just $968 million .... and AOL incurred an operating loss of $1.9 billion, largely because it bought a bunch of online startups that turned out to be junk."
TimeWarner, the maker of the Dark Knight movie, "posted a fourth-quarter net loss of $16 billion"! [CNNMoney] "The company's majority-owned cable service provider, Time Warner Cable, also reported an 8% rise in revenue growth as it added more phone and broadband customers. But the unit lost around 119,000 basic video subscribers. .... TimeWarner said last month it would take a $25 billion charge related to the depressed value of Time Warner Cable assets and other impairment charges." Ouch!
TimeWarner, the maker of the Dark Knight movie, "posted a fourth-quarter net loss of $16 billion"! [CNNMoney] "The company's majority-owned cable service provider, Time Warner Cable, also reported an 8% rise in revenue growth as it added more phone and broadband customers. But the unit lost around 119,000 basic video subscribers. .... TimeWarner said last month it would take a $25 billion charge related to the depressed value of Time Warner Cable assets and other impairment charges." Ouch!
