Time Warner Cuts Its Cable

Time Warner made the formal announcement Wednesday that it will split off Time Warner
Cable, the second-largest cable operation in the country behind Comcast. Time Warner
CEO Jeff Bewkes, in a conference call with analysts, said that the company had become
a "full-fledged telecommunications business" that includes cable, Internet access,
and phone services that no longer fits well with Time Warner's traditional media
companies, which include the Warner Bros. film studios, publishers Time Inc., and
Turner Broadcasting. It also owns AOL -- another company that it is likely to dispose
of. In order for the split to occur, Time Warner Cable will have to borrow $10.9
billion for a one-time dividend -- $9.25 billion of that amount payable to Time Warner,
for its 84-percent ownership. Reporting on the development, the Wall Street Journal
noted, "Loading up a spinoff with lots of debt has had bad consequences in the
past." On the other hand, it said, "Time Warner itself is making out like a bandit
on the deal, slashing its net debt by two-thirds."

22/05/2008

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Underwood pulls out of Dancing on Ice

Underwood pulls out of Dancing on Ice

'GMTV' sponsor Michael Undergrowth has been forced to rip out of 'Dancing on Ice' after break his ankle joint.
The video presenter was acquisition his newly routine for the next be show when he fell awkwardly on his mortise joint.
According to the show's official internet site, Undergrowth was rushed to infirmary by ambulance, with X-rays by and by screening that he had suffered a check.
Speaking on 'GMTV' he said: "I'd like to enjoin that I was attempting some amazing triple axel or something, merely I was just now trying to stop."
A 'Dancing on Ice' spokesperson said: "After breaking his articulatio talocruralis last night, Michael Undergrowth tail end no longer vie in 'Dancing on Ice'."
"The whole team ar sad to go steady Michael leave the competition in this way and wish him a speedy recovery."

Hottest tracks of the week rated

Hottest tracks of the week rated

SANTOGOLD – L.E.S. Artistes
*****
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