Times Warner Cable to Buy Cable Systems for $260 Million

Time Warner Cable Inc. said that it has agreed to acquire cable systems servingfrom NewWave Communications for $260 million in cash.

Under the agreement, Time Warner Cable will pick up about 70,000 basic video subscribers, 42,000 high-speed data customers and 26,000 phone subscribers in Kentucky and western Tennessee.

The deal comes as Time Warner Cable, which has largely been focused on selling its "triple-play bundle" of broadband, television and phone services, intends to shift its focus to sell more "single play" broadband to people who may get video from other sources.

The deal is expected to close in the fourth quarter.

NewWave is based in Sikeston, Mo., and serves another 80,000 customers in Illinois, Indiana, Missouri and Arkansas.


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