Time Warner Cuts Ties to Texas Venture

DALLAS Belo Corp. and Time Warner Cable are ending their collaboration on 24-hour news channels in Texas and North Carolina, citing their failure to make inroads against local broadcast news.

“Each of these markets has well-established competitors, including Belo’s own broadcast stations, that made it difficult for a new brand to gain a foothold,” said Jack Sander, Belo’s president of media operations.

The media and cable companies’ joint venture operated 24-hour cable news channels in Houston, San Antonio and Charlotte, N.C. The companies said they considered revising the business plan but decided ultimately to cease operations.

Belo said it has not yet determined whether an impairment charge will result from the discontinuation of the joint venture.

News 14 Carolina in Charlotte will remain in operation as a wholly owned unit of Time Warner Cable, which also operates 24-hour news channels in Raleigh, N.C.; Austin, Texas; and New York, Albany, Syracuse and Rochester, N.Y.

Dallas-based Belo Corp. owns The Dallas Morning News and other newspaper, cable and interactive properties.