Time Warner Inc is to sell 15 of its cable systems in seven US states to raise $260m to cut its debt, but some of the cash will go into a new venture between its Time Warner Cable and Time Inc units to develop an approach to delivery of on-line and Internet services to personal computers over its cable networks. It is considering a single monthly charge that would include the necessary hardware and software to access the network as well as unlimited use of some Time Warner-owned services. The service will combine Cable’s ability to deliver data at high speeds over its fibre-optic and coaxial networks with Time Inc’s news and information resources, the company said, but did not mention the WEA record business.
