Time Warner’s Urban Bid Denied
The Philadelphia City Council unanimously rejected Time Warner Inc.’s bid to buy Urban Cableworks, AP reported.
Time Warner already acts as Urban Cableworks’ managing partner, and it holds a 40% interest in the one-time minority-owned cable franchise serving west, southwest and parts of northwest Philadelphia, according to AP.
City Councilman Michael Nutter, who represents most of Urban Cableworks' service area, cited among his concerns the operator’s lower subscriber total, the fact that the percentage of subscribers in the total market is low and the fact that contracting has dropped between the franchise and minority- and women-owned businesses, AP reported.
“If Time Warner wants this franchise, then Time Warner needs to step up to the plate and act like the big player that they are ... get this franchise in order and act like you want it,” Nutter told AP.
Time Warner attorney John Fogarty told AP the rejection was unjustified.
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By Kent Gibbons