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Journalism of Courage
Time Warner Inc and Time Warner Cable Inc said on Wednesday that they would split into two companies and pay Time Warner Cable shareholders a one-time $10.9 billion dividend. The move comes after pressure from investors for Time Warner to streamline its focus as a pure media content company and rescue its stock price. Time Warner Cable’s one-time dividend of $10.27 per common share will be payable immediately prior to completion of the separation. Time Warner will receive $9.25 billion of this dividend.
