Time Warner Cable said Thursday that it has completed the sale of 14,300 customers near Charlotte, N.C. for $51 million to a group headed by several local government agencies.
M-I Connection Communications System, which represents local governments in Mecklenburg and Iredell counties (including the towns of Mooresville, Davidson and Cornelius) exercised their right of first refusal under their local franchise agreements after the cable systems were acquired from Adelphia Communications last year. Two other local municipalities which had similar rights of first refusal in their Adelphia franchise agreements opted not to acquire systems under their jurisdiction.
Time Warner Cable remains the dominant cable company in North Carolina, and has more than 446,000 basic cable customers in the Charlotte area. Throughout the state and in South Carolina, TWC has about 1.9 million basic customers.