Time Warner Cable (NYSE: TWC) (formerly Warner Cable Communications ) is an American national cable television company that operates in 27 states and has 31 operating divisions. Its corporate headquarters are located in New York, NY, and has other corporate offices in Cambridge, Massachusetts; Charlotte, North Carolina; and Herndon, Virginia. For its first 20 years, Time Warner Cable was controlled by Time Warner. However, it is no longer affiliated with Time Warner, having been spun out to shareholders in March 2009.
Prior to the spin-out, Time Warner had held an 84 percent stake in Time Warner Cable. Non-Time Warner shareholders received 0.083670 shares for each share already owned. This move made Time Warner Cable the largest cable operator in the United States owned solely by a single class of shareholders (without supervoting stock).
History
Time Warner Cable was formed in 1989 through the merger of Time Inc.'s cable television company, American Television and Communications Corp., and Warner Cable, a division of Warner Communications. It also includes the remnants of the defunct QUBE interactive TV service. In 1995, the company launched the Southern Tier On-Line Community, a cable modem service now known as Road Runner High Speed Online.
Arena
In April 2008, the Charlotte Bobcats reached a naming rights deal with Time Warner Cable, the Charlotte area's only cable television provider. Under this deal, Bobcats Arena will be renamed Time Warner Cable Arena. In return, Time Warner agreed to tear up the cable television deal that had limited the Bobcats' exposure over the team's first four years. Starting with the 2008-09 season, most Bobcats games will be seen on FSN South and SportSouth in North and South Carolina.
- Time Warner Cable Arena (2008-present, known as Charlotte Bobcats Arena 2005-08)
Acquisition of Adelphia
On July 31, 2006, Time Warner Cable and Comcast completed a deal to purchase practically all of Adelphia's assets for $17 billion . Time Warner Cable gained 3.3 million of Adelphia's subscribers, a 29 percent increase, while Comcast gained almost 1.7 million subscribers. Adelphia stockholders received 16% of Time Warner Cable. Time Warner Cable went public effective February 13, 2007, and the company began trading on the New York Stock Exchange on March 1, 2007.
In addition to Adelphia's coverage being divided up, Time Warner Cable and Comcast also agreed to exchange some of their own subscribers in order to consolidate key regions. An example of this is the Los Angeles market, which was mostly covered by Comcast and Adelphia (and some areas of the region already served by TWC), is now under Time Warner Cable. Philadelphia, previously was split between Time Warner and Comcast, with the majority of cable subscribers belonging to Comcast. Time Warner subscribers in Philadelphia were swapped with Comcast in early 2007. Similarly, the Houston area, which was under Time Warner, was swapped to Comcast, while the Dallas metro area was changed to Time Warner (RR).. In the Twin Cities, Minneapolis was Time Warner and Saint Paul was Comcast. That whole market is now Comcast. There have also been rumors of a Charter purchase as well, much like how Adelphia was acquired in conjunction with Comcast.
Advance/Newhouse and Time Warner (Bright House Networks spin off)
Some of the regional cable system clusters operated by Time Warner Cable are owned by the Time Warner Entertainment - Advance/Newhouse Partnership (TWEAN). In 2002, Advance/Newhouse Communications, unhappy with some of the operating policies of Time Warner Cable in the AOL Time Warner era, forced a restructuring of the TWEAN partnership such that Advance/Newhouse would actively manage and operate a portion of the jointly owned cable systems equal to their percentage of equity. Under this arrangement, Advance/Newhouse enjoys the proceeds of their actively managed systems rather than simply a percentage of the partnership's total earnings. The majority of the affected systems are in the Tampa and Orlando markets under the Bright House Networks brand.
The value of this deal is that it allows Advance/Newhouse to more directly control their cable investments without having to completely unravel the TWEAN partnership, which does bring some benefits via Time Warner's development and purchasing clout.
Sprint Nextel Venture
In late 2005, TWC and several other cable companies formed a venture with Sprint Nextel. This caused TWC customers to receive a full suite of products, linking in-home and out-of-home entertainment, information, and communications services. All of this was included in the new "Triple Play On The Go", similar to the Triple Play but an addition of new services through Sprint Nextel.
Carriage controversies
Bandwidth metering
In 2008, Time Warner Cable began testing tier-based metered data plans in Beaumont, Texas. In 2009, Time Warner Cable announced that additional cities including Rochester, New York will become additional test sites. In particular in Rochester groups have formed to stop TWC. Several groups including Stop TWC and Stop The Cap are currently working to oppose these efforts. On April 7, 2009, US Congressman Eric Massa, called on Time Warner to eliminate its broadband internet cap.
Local stations
- In October 2008, Time Warner Cable customers in Austin, Texas lost NBC programming as a result of an ongoing contract dispute between the owner of network affiliate KXAN and the cable giant. Both sides waged a public relations war against the other, each claiming in ads, on their Web sites, and in other mediums that they were in the right and that the other side is letting viewers down.
- Since September 2008, Time Warner Cable is under a carriage dispute with Daystar Television Network affiliate KDTN (Denton, Texas). As an end result, it was replaced with a test pattern. As of January 4, 2009; it was pulled from its lineup.
- On September 15, 2008 LIN TV temporarily pulled the signals of its stations from TWC and Bright House Networks in a total of 15 markets. Affected stations in areas served by TWC were WIVB/WNLO in Buffalo, New York; WLUK-TV in Green Bay, Wisconsin; WTHI-TV in Terre Haute, Indiana; WDTN-TV in Dayton, Ohio; WUPW-TV in Toledo, Ohio; and WANE-TV in Fort Wayne, Indiana..
- On December 31, 2006 Sinclair Broadcast Group was scheduled to pull stations off Time Warner Cable in markets TWC inherited from Adelphia. Examples of such stations are WVAH, WGME and WCHS-TV in Charleston, West Virginia.. TWC eventually came to an agreement to extend the carriage.
- On December 15, 2006, KAYU-TV, the Fox affiliate serving eastern Washington and the Idaho panhandle, was pulled from TWC subscribers in those areas. The reason given was that KAYU had not been "negotiating in good faith" for permission to carry the channel; KAYU pulled its own signal and wants reverse compensation for its carriage. Time Warner fears that such an agreement will result in higher cable bills for its subscribers. Station officials are providing free rabbit-ear antennas to access the signal. On February 1, 2008, an agreement was finally reached between the two parties that allows Time Warner to retransmit the station's feed until February 1, 2013.
- On October 15, 2006, just hours before TWC was to drop WSAZ-TV in Huntington, West Virginia, station management and TWC came to an agreement. The key was that TWC agreed to add the new MyNetworkTV affiliate, which WSAZ carries on a digital subchannel. If no agreement was reached, WSAZ, the local NBC affiliate, would have been dropped on December 8.
- On October 4, 2006, TWC reached a new carriage agreement with Fox Television Stations Group-owned stations KDFW and KDFI, respective affiliates of FOX and MyNetworkTV in the Dallas–Fort Worth Metroplex. Before that, a message was scrolling on a leased access channel saying, "Please be advised that pending progress of ongoing negotiations, Time Warner may be forced to discontinue carriage of KDFW and KDFI. While we remain hopeful that further negotiations are being made to keep KDFW and KDFI programming in the lineup, we're letting customers know in advance of this issue." Had the stations been pulled as threatened, most Dallas Cowboys games would have been unavailable to TWC subscribers.
- When The CW (which is half-owned by Time Warner) launched on September 18, 2006, a number of TWC systems did not carry the digital subchannels that the CW uses as affiliates in some areas. Among the stations whose subchannels are not carried on TWC are WCBD (DT2), Charleston, South Carolina; KVIA (DT2), El Paso, Texas; WLIO (DT2), Lima, Ohio; and KESQ (DT2), Palm Springs, California.
- On May 12, 2000, ABC network owned-and-operated stations were unavailable to TWC subscribers for 19 hours. The pullout, in the middle of a "sweeps" period, came because TWC could not agree with ABC's parent company, the Walt Disney Company, on whether to carry some specialty channels, like ESPN Classic and SOAPnet. Those tuning in to stations like WABC in New York City or KABC in Los Angeles instead saw this static message, "Disney is taking ABC away from you." Thousands of people bought antennas from RadioShack and other stores to view ABC programs, and KABC-AM in L.A. carried the audio feed of Who Wants to Be a Millionaire , then the network's highest-rated program. Amidst huge public outcry, and threats of Congressional action, TWC and ABC reached a new deal to put the ABC stations back on the
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