Time Warner to spin off Time Warner Cable by end of quarter

By Lisa Kerner

Charlotte, N.C., Feb. 19 - Time Warner Inc. will complete the proposed spinoff of Time Warner Cable Inc. by distributing a pro rata dividend of all its Time Warner Cable common stock to Time Warner stockholders.

The separation of the two companies is expected to be completed by the end of the first quarter, Time Warner said.

In May 2008 it was announced that the boards of directors of Time Warner and Time Warner Cable approved an agreement that would result in the complete legal and structural separation of the two companies.

Time Warner is a New York-based media and entertainment company. Time Warner Cable is the second-largest cable operator in the United States.

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