Time Warner today announced that Time Warner Cable is becoming a public company. It expects shares to be traded as a Class A common stock on the New York Stock Exchange with the “TWC” symbol. Shares could begin trading as early as March 1.
The move comes as a result of Time Warner Cable purchasing assets from Adelphia when it filed Chapter 11. In exchange for the assets, TWC coughed up 156 million shares to Adelphia. Now that the bankruptcy is finalized, most of the TWC shares will be distributed to Adelphia stockholders.
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