Time Warner to finalize TWC spinoff this quarter
Wait, what? Time Warner Cable is still a part of Time Warner, Inc.? Weren't they supposed to split, like, almost a year ago? We've always heard that old flames are hard to extinguish, so we guess we shouldn't be too shocked to hear that this drawn-out separation is still being, well, drawn out. According to a fresh release from parent company Time Warner, it has "elected to complete the separation of the two companies through a spin-off distribution involving a pro rata dividend of all of the Time Warner Cable common stock held by Time Warner to Time Warner stockholders." If you're hungry for details beyond that, we're afraid you'll have to wait -- all we're told is that the two "continue to expect that the separation will be completed by the end of the current quarter." Cute how "continue" was thrown in there, yeah?
