Time Warner Cable Closes NewWave Deal

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Time Warner Cable said Wednesday that it has completed its previously announced acquisition of systems owned by NewWave Communications for $260 million.
"Today we expand our footprint, improve our clustering in Kentucky, and welcome new customers and employees to Time Warner Cable," said Time Warner Cable chief operating officer Rob Marcus in a statement. "We are excited to serve these customers and look forward to bringing them new, innovative services."
Time Warner announced the NewWave deal in June.
NewWave has about 70,000 basic video customers, 44,000 high-speed data customers and 28,000 phone subscribers. The new Time Warner Cable systems include Beaver Dam, Benton, Corbin, Hopkinsville, Madisonville, Mayfield, Middlesboro, Murray, and Somerset in Kentucky; and Bolivar, Brownsville, Dyer, Ripley, S. Fulton and Tiptonville in Tennessee.
RBC Daniels acted as exclusive financial advisor, and K&L Gates LLP acted as legal advisor to NewWave on this transaction. Edwards Wildman Palmer LLP served as legal advisor to Time Warner Cable.