Found this in the Dallas Morning News:
By TERRY MAXON / The Dallas Morning News
Comcast plans to swap its North Texas cable systems to Time Warner Cable, a deal that would give the Dallas system its sixth owner since 1981.
Time Warner Cable and Comcast officials said Wednesday that the changeover would be largely invisible to customers and probably won't be completed for nine to 12 months.
"Comcast will work to make this transition a smooth one for our employees, customers and community partners," said Sanford Ames, Comcast's area vice president for the Dallas market.
Time Warner Cable spokesman Mark Harrad said cable systems are often traded or acquired. "Customers shouldn't really see any change, certainly not short-term," he said. Mr. Harrad said he anticipated little change in programming and rates, at least initially.
The trade is part of the two companies' deal to divvy up bankrupt competitor Adelphia Communications, a proposal that must be approved by a bankruptcy court, several federal agencies and local officials.
DallasNews.com/extra
Mr. Harrad said his company wanted to pick up the North Texas properties to complement its franchises in Houston, San Antonio, Austin and elsewhere in Texas.
"There are greater operating efficiencies if you cluster," he said.
Time Warner Cable is strongest in Texas, New York, Ohio and the Carolinas. "Properties in those areas or immediately adjacent would be more of a premium for us," Mr. Harrad said.
The Dallas swap is part of a grand plan outlined last week when Time Warner and Comcast agreed to buy almost all of Adelphia, which has operated under bankruptcy court protection since June 2002.
In the deal, the two are paying $12.7 billion in cash and 16 percent of Time Warner Cable's stock, and trading a number of cable systems, including the Dallas area operations.
In addition to Dallas, Time Warner Cable would pick up Comcast's Los Angeles and Cleveland systems, as well as Adelphia's New York, California, Ohio, Carolinas and Maine cable operations.
Comcast would get Time Warner's properties in Florida, Virginia, New England, Pennsylvania and Colorado Springs. In addition, it would obtain Adelphia systems in Minneapolis; Memphis, Tenn.; Louisiana; and Florida.
The proposed deal faces a lot of hurdles before approval, starting with the federal bankruptcy judge handling Adelphia's case. In addition, the deal faces scrutiny from the Federal Trade Commission, Federal Communications Commission, Justice Department and the cities that granted the cable franchises.
Assuming the deal goes through, local Comcast workers shouldn't expect big changes after the transfer, Mr. Harrad said. Comcast employs 1,500 people in its Dallas operations and serves about 500,000 subscribers.
"I think the sense of this is that all employees would have the same jobs at the same location at the time of closing," Mr. Harrad said. "It really is our intention to make it seamless, not only for customers, but for employees as well."
In addition to Dallas, Comcast has cable systems in Arlington, Garland, Mesquite, Bedford, Farmers Branch, Grand Prairie, Carrollton, Addison and several other cities.
The Dallas system began life in 1981 when the Dallas City Council awarded the city's first cable franchise to Warner Amex Cable Communications, a joint venture of American Express and Warner Communications.
In 1985, Warner Amex sold its Dallas properties to Heritage Communications, which sold them three years later to Tele-Communications. TCI and the Dallas system were bought in 1999 by AT&T.
In 2002, Comcast picked up the cable systems when it bought AT&T's broadband division.
The latest ownership change would put the Dallas system pretty much back where it started.
Time Warner Cable was created in 1989 when Warner Cable, a division of Warner Communications, merged with American Television and Communications, a unit of Time. Warner Communications had bought out its Warner Amex partner, American Express, four years earlier.
E-mail tmaxon@dallasnews.com
By TERRY MAXON / The Dallas Morning News
Comcast plans to swap its North Texas cable systems to Time Warner Cable, a deal that would give the Dallas system its sixth owner since 1981.
Time Warner Cable and Comcast officials said Wednesday that the changeover would be largely invisible to customers and probably won't be completed for nine to 12 months.
"Comcast will work to make this transition a smooth one for our employees, customers and community partners," said Sanford Ames, Comcast's area vice president for the Dallas market.
Time Warner Cable spokesman Mark Harrad said cable systems are often traded or acquired. "Customers shouldn't really see any change, certainly not short-term," he said. Mr. Harrad said he anticipated little change in programming and rates, at least initially.
The trade is part of the two companies' deal to divvy up bankrupt competitor Adelphia Communications, a proposal that must be approved by a bankruptcy court, several federal agencies and local officials.
DallasNews.com/extra
Mr. Harrad said his company wanted to pick up the North Texas properties to complement its franchises in Houston, San Antonio, Austin and elsewhere in Texas.
"There are greater operating efficiencies if you cluster," he said.
Time Warner Cable is strongest in Texas, New York, Ohio and the Carolinas. "Properties in those areas or immediately adjacent would be more of a premium for us," Mr. Harrad said.
The Dallas swap is part of a grand plan outlined last week when Time Warner and Comcast agreed to buy almost all of Adelphia, which has operated under bankruptcy court protection since June 2002.
In the deal, the two are paying $12.7 billion in cash and 16 percent of Time Warner Cable's stock, and trading a number of cable systems, including the Dallas area operations.
In addition to Dallas, Time Warner Cable would pick up Comcast's Los Angeles and Cleveland systems, as well as Adelphia's New York, California, Ohio, Carolinas and Maine cable operations.
Comcast would get Time Warner's properties in Florida, Virginia, New England, Pennsylvania and Colorado Springs. In addition, it would obtain Adelphia systems in Minneapolis; Memphis, Tenn.; Louisiana; and Florida.
The proposed deal faces a lot of hurdles before approval, starting with the federal bankruptcy judge handling Adelphia's case. In addition, the deal faces scrutiny from the Federal Trade Commission, Federal Communications Commission, Justice Department and the cities that granted the cable franchises.
Assuming the deal goes through, local Comcast workers shouldn't expect big changes after the transfer, Mr. Harrad said. Comcast employs 1,500 people in its Dallas operations and serves about 500,000 subscribers.
"I think the sense of this is that all employees would have the same jobs at the same location at the time of closing," Mr. Harrad said. "It really is our intention to make it seamless, not only for customers, but for employees as well."
In addition to Dallas, Comcast has cable systems in Arlington, Garland, Mesquite, Bedford, Farmers Branch, Grand Prairie, Carrollton, Addison and several other cities.
The Dallas system began life in 1981 when the Dallas City Council awarded the city's first cable franchise to Warner Amex Cable Communications, a joint venture of American Express and Warner Communications.
In 1985, Warner Amex sold its Dallas properties to Heritage Communications, which sold them three years later to Tele-Communications. TCI and the Dallas system were bought in 1999 by AT&T.
In 2002, Comcast picked up the cable systems when it bought AT&T's broadband division.
The latest ownership change would put the Dallas system pretty much back where it started.
Time Warner Cable was created in 1989 when Warner Cable, a division of Warner Communications, merged with American Television and Communications, a unit of Time. Warner Communications had bought out its Warner Amex partner, American Express, four years earlier.
E-mail tmaxon@dallasnews.com
