Time Warner and Comcast complete a deal to purchase Adelphia. Both companies are able to expand their cable footprints and improve subscribers’ geographical footprints. As part of the deal, Comcast redeems its historical ownership interests in Time Warner as both companies focus on integrating their cable properties. Chairman/CEO Parsons says:
With Time Warner Cable delivering stellar growth, we are very pleased to continue to build value by significantly enhancing our scale, subscriber clusters, and operating efficiencies, all at an attractive price.