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Time Warner has chosen to effect the planned separation of Time Warner Cable into an independent company in the form of a spinoff, the entertainment giant said late Thursday.
It had previously said it could spin off its 85 percent stake in TWC to shareholders, offer to exchange TWC shares for TWX shares or use some combination of the two.
In the spinoff, TW shareholders will get a certain, to-be-determined number of TWC shares. Investors can then decide whether to continue holding both sets of shares or just focus on the cable or entertainment-centric company.
A spokesman wouldn’t say when the spinoff was likely to happen.
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