Time Warner Buys Cable Systems From NewWave For $260M In Cash

Time Warner Cable this morning announced that it will acquire cable systems serving approximately 70,000 basic video subscribers, 42,000 HSD subscribers, and 26,000 phone subscribers in Kentucky and Tennessee from NewWave Communications for $260 million in cash.

NewWave had been buying up many of these cable systems, some property acquisitions dating back to 2003. The company says it will now concentrate on “ongoing operations in other service areas”.

The transaction is subject to customary conditions, including FCC and antitrust approval, and is expected to close during the fourth quarter of 2011.