Wrapping up the final details of extricating themselves from each other, Comcast and Time Warner Cable finally completed the previously-announced distribution of assets of their Texas and Kansas City Cable Partnership.
As agreed, Comcast ended up with the Houston cable systems, which served approximately 790,000 basic video subscribers as of Sept. 30, 2006.
In turn, Time Warner Cable received systems serving Kansas City, parts of south and west Texas, and parts of New Mexico, which together represented approximately 782,000 basic video subscribers as of Sept. 30, 2006.
As part of the deal, Comcast last October refinanced $1.4 billion of partnership debt, which included a payment of $631 million to a subsidiary of Time Warner Cable.