Comcast, Time Warner Divvy Up Partnership Assets

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Comcast, Time Warner and Time Warner Cable completed the previously announced distribution of assets of their Texas and Kansas City Cable Partnership.

Comcast received the partnership's Houston cable systems, with approximately 790,000 basic-video subscribers as of Sept. 30.

And Time Warner Cable received the Kansas City, south and west Texas and New Mexico cable systems, totaling some 782,000 basic-video subscribers as of Sept. 30.

Also as part of this transaction, Comcast refinanced $1.4 billion of partnership debt Oct. 2, which included a payment of $631 million to a subsidiary of Time Warner Cable.

The two MSOs also consolidated the financial results of their respective systems starting Jan. 1.

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