EON

CEO Says Best Decision For Both Companies

New York- In surprising news the head of Time Warner Company announced to their shareholders that they would be selling off their cable holdings, Time Warner Cable.

CEO and Chairman Jeff Bewkes said on Tuesday that the decision has been made to separate off the cable holdings, Time Warner Cable, and that is was in the best interests of all the shareholders involved.

The net income reported on Wednesday for the cable division was $242 million dollars net, for its first quarter 2008 earnings.

Net income for a year ago for the same time period was about $276 million dollars. The results from a year ago included an $81 million dollar sale so the current year results are actually an increased amount than one year ago.

“The separation and structural realignment of the Time Warner Cable group is the best thing for all company shareholders that are involved,” said CEO Bewkes.

The cable company Times Warner Cable is the provider that is the second largest in the USA. It counts to its subscriber’s nearly 14.7 million users, and has a robust and vibrant cable and Internet subscriber base.