TWC posts higher revenue, expected writedown

Time Warner Cable, which is in the process of being spun off from Time Warner, posted an $8.1 billion loss in the fourth quarter of 2008, and took a whopping $14.8 billion writedown on the value of its cable TV operation. The writedown, which figured into a larger writedown taken by its parent firm, had been expected, and without it, the company would have shown an increase in quarterly profit. Revenue was up about 8 percent for the quarter to about $4.4 billion.

Meanwhile, TWC reported growth in several areas outside of basic cable, including its voice operations, for which revenue jumped about 29 percent to $435 million. The company also saw sign-ups for triple-play bundles grow slightly during the quarter to 3.1 million.

For more:
- Forbes has the Associated Press story

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