Time Warner Cable Inc. (NYSE:TWC) today announced that it has completed its previously announced acquisition of DukeNet Communications, LLC. As a result of the $600 million transaction, Time Warner Cable adds more than 8,700 route miles to its fiber optic network that serve business customers in the Southeast, including key markets in North Carolina and South Carolina.
“DukeNet and Time Warner Cable are perfect complements to each other and the customers we serve,” said Phil Meeks, Executive Vice President and Chief Operating Officer for Business Services at Time Warner Cable. “We welcome our new customers and look forward to serving their communications needs with our network’s expanded reach, additional product offerings and enhanced level of customer service. We’re also very excited for our existing customers, as this additional fiber capacity will enable us to extend our fiber reach and help them connect to our network from more business locations.”
Time Warner Cable Business Class (TWCBC) anticipates utilizing the additional fiber to connect and serve business customers who need services such as voice, high-speed Internet and cloud-enabled hosting. In addition, TWCBC anticipates utilizing the additional fiber capacity to further grow its carrier business, which provides network access to wireless providers. TWCBC is a leader in this industry and last summer passed the milestone of providing services for more than 10,000 cell towers around the country.
Prior to the transaction, DukeNet was jointly owned by Duke Energy Corporation and investment funds managed by Alinda Capital Partners.
About Time Warner Cable
Time Warner Cable Inc. (NYSE: TWC) is among the largest providers of video, high-speed data and voice services in the United States, connecting more than 15 million customers to entertainment, information and each other. Time Warner Cable Business Class offers data, video and voice services to businesses of all sizes, cell tower backhaul services to wireless carriers and managed and outsourced information technology solutions and cloud services. Time Warner Cable Media, the advertising arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions. More information about the services of Time Warner Cable is available at twc.com, twcbc.com and twcmedia.com.
Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, and other factors affecting the operations of Time Warner Cable Inc. More detailed information about these factors may be found in filings by Time Warner Cable Inc. with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Time Warner Cable is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.