Time Warner buys fiber optic network for $600M

Time Warner buys DukeNet's 8,700-mile fiber optic network for $600 million

Associated Press

CHARLOTTE, N.C. (AP) -- Time Warner Cable Inc. says it has paid $600 million to acquire a company and add 8,700 miles to its fiber optic network in the Southeast.

Time Warner said its purchase of DukeNet Communications, LLC was completed Monday. The cable company says the new fiber optic lines will help it provide faster data services to more areas of North and South Carolina as well as other parts of the Southeast.

DukeNet was jointly owned by Duke Energy Corporation and investment funds managed by Alinda Capital Partners.

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