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Time Warner spinoff gets OK

February 12, 2009|From Times Wire Reports

The Federal Communications Commission has approved the spinoff of Time Warner Cable, the nation's second largest cable operator, from parent Time Warner Inc.

The approval was one of the main regulatory hurdles to the spinoff, which the companies expect to complete by the end of March. Final approval requires a tax letter from the Internal Revenue Service.

Time Warner owns 85% of Time Warner Cable shares.

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