Global Showbiz Briefs: Time Warner Cable Shedding Clearwire, Lachlan Murdoch Settles, Nine Financial Woes, 'A Long Way Down'

Time Warner Cable To Sell Its Stake In Clearwire
Time Warner Cable plans to sell its 46.4 million shares of Clearwire to build a nationwide high-speed wireless Internet network, Bloomberg reports. The second-largest U.S. cable company alerted other Clearwire investors of its intention to sell the holdings in a filing last week. Time Warner Cable and Comcast agreed late last year to market and sell Verizon Wireless, allowing the cable companies to combine wireless service with their television, land-line phone and broadband Internet services. The U.S. Justice Department approved the Verizon deal last month. Clearwire fell 4.9 percent to $1.54 at the close in New York. (more…)

This article was printed from