Time Warner Mulls US Cable Acquisitions

12 December 2003

Time Warner is looking at acquisitions in the US cable-TV business after hitting debt targets a year early.

According to chairman/ceo Richard Parsons, the media mammoth is keen to build its existing cable business as the industry consolidates.

"My view," he revealed in an interview, "is that the cable business is moving in a direction where three or four years from now there will be two or three dominant players and we want to be one of them."

Parsons did not disclose which businesses might be takeover targets, though analysts were quick to suggest some for him. Cablevision and the scandal-hit Adelphia Communications were both touted as potential purchases.

Time Warner is in a position to make acquisitions after selling its CD manufacturing arm and Warner Music. After these disposals and other measures, the company's net debt will fall to $20.5 billion (€16.9bn; £11.8bn) at the end of the year -- a target initially scheduled for 2004.

Data sourced from: Financial Times; additional content by WARC staff