Maroon87
08-02-2006, 10:12 AM
09:05 AM CDT on Wednesday, August 2, 2006
From 11 News Staff reports
Houston residents will soon have to think of other options for cable and Internet.
Time Warner Cable announced Wednesday that it is leaving the Houston market.
In an e-mailed statement, officials said the transaction isn't expected to close until the first quarter of 2007.
The cable company released this statement: "Despite Time Warner Cable’s strong presence in Texas and the appeal of continuing to operate Houston as part of its Texas cluster, the Company has selected the Kansas City-Southwest Texas pool. Both of the pools contain very attractive, well-managed cable properties. The decision to select the Kansas City and the systems in Southwest Texas and New Mexico was driven by economic considerations stemming from the fact that the entire $2 billion debt from the partnership had been placed on the Houston properties. This decision is consistent with our strategy of expansion through acquisition of systems that are attractively valued."
From 11 News Staff reports
Houston residents will soon have to think of other options for cable and Internet.
Time Warner Cable announced Wednesday that it is leaving the Houston market.
In an e-mailed statement, officials said the transaction isn't expected to close until the first quarter of 2007.
The cable company released this statement: "Despite Time Warner Cable’s strong presence in Texas and the appeal of continuing to operate Houston as part of its Texas cluster, the Company has selected the Kansas City-Southwest Texas pool. Both of the pools contain very attractive, well-managed cable properties. The decision to select the Kansas City and the systems in Southwest Texas and New Mexico was driven by economic considerations stemming from the fact that the entire $2 billion debt from the partnership had been placed on the Houston properties. This decision is consistent with our strategy of expansion through acquisition of systems that are attractively valued."