Time Warner Finalizes Cable Spinoff Details

Time Warner announces final distribution ratio for spinoff of Time Warner Cable

March 20, 2009

1 Min Read

NEW YORK -- Time Warner Inc. (NYSE:TWX - News) today announced the final distribution ratio for its previously announced spin-off of Time Warner Cable Inc. (NYSE:TWC - News). Time Warner stockholders will receive 0.083670 share of Time Warner Cable common stock for each share of Time Warner common stock held at the record date of 8 p.m. on March 12, 2009.

On March 27, 2009, Time Warner will begin distributing to eligible Time Warner stockholders all of the shares of Time Warner Cable stock that it owned, representing approximately 85.2% of Time Warner Cable’s outstanding shares at the record date. Because the share distribution ratio was determined as of the record date of March 12, 2009, the ratio reflects the one-for-three reverse stock split of Time Warner Cable common stock on March 12, 2009, but not the one-for-three reverse stock split of Time Warner common stock, which Time Warner will implement at 7 p.m. on March 27, 2009.

Time Warner Inc. (NYSE: TWX)

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