Feeds

Time Warner and Time Warner Cable split

Breaking up is hard to do...

5 things you didn’t know about cloud backup

Time Warner Cable Inc has agreed to completely sever ties with its parent company Time Warner Inc, which will receive a tasty payout from the spin-off.

A one-time dividend, payable immediately prior to the separation, will be paid to Time Warner Cable stockholders of $10.27 a share for a total of about $10.9bn. Time Warner will reap a $9.25bn of this because it owns 84 per cent of the cable company.

“This is the right step for Time Warner and Time Warner Cable stockholders," said newly-installed CEO Jeffrey Bewkes in a statement. “We're bullish on Time Warner Cable's prospects, but its strategic goals and capital needs are increasingly different from those of our other businesses."

Time Warner’s amputation of its US cable arm follows intense pressure on Bewkes from investors to rejig Time Warner’s strategy.

Investors had pushed for the bloated company to focus its efforts on Time Warner’s entertainment businesses, as well as turning around AOL.

Just last month AOL saw its earnings slide 74 per cent on revenues that were down by nearly a quarter.

Terms of the Time Warner Cable spin-off, which is expected to complete in the fourth quarter, were cleared at a meeting of the firm’s board of directors yesterday.

Time Warner's press release is here (pdf). ®

5 things you didn’t know about cloud backup

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
So, Apple won't sell cheap kit? Prepare the iOS garden wall WRECKING BALL
It can throw the low cost race if it looks to the cloud
EE fails to apologise for HUGE T-Mobile outage that hit Brits on Friday
Customer: 'Please change your name to occasionally somewhere'
Time Warner Cable customers SQUEAL as US network goes offline
A rude awakening: North Americans greeted with outage drama
We need less U.S. in our WWW – Euro digital chief Steelie Neelie
EC moves to shift status quo at Internet Governance Forum
BT customers face broadband and landline price hikes
Poor punters won't be affected, telecoms giant claims
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?