Time Warner Cable Offloads Small Cable Systems

NEW YORK, July 11: Time Warner Cable has reached a deal to
sell off certain “non-core” cable systems to Windjammer Communications, a
venture of MAST Capital Management and Communication Construction Services
(CCS).

The systems serve about 80,000 basic video subscribers and
120,000 revenue-generating units across 125 head-ends in 25 states outside of
the company’s core areas of New York, the Carolinas, Ohio, California and
Texas. The sale will result in a pre-tax, non-cash loss of $45 million in Time
Warner Cable’s second quarter results. The deal is expected to close in the
fourth quarter.

—By Mansha Daswani