Time Warner to split from its cable arm

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 Cable8217;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.