Time Warner eyes U S West with stock deal.
Multichannel News, April, 1996 by Higgins, John M.
Time Warner Inc. filed an unusual $1 billion stock deal that analysts see as partly intended to improve its negotiating position with U S West Inc. over the restructuring of their Time Warner Entertainment venture. Adding yet another layer to the thicket of securities that Time Warner uses to keep its finances in balance, the new issue is designed to tap Time Warner's 74 percent TWE stake for cash.
That's something the company has been frustrated in working out with "partner" U S West as the two companies' relationship has dissolved into a series of bitter disagreements that recently lurched into a Delaware court. "The first thing it does is it demonstrates to U S West that they do have financing flexibility," said PaineWebber analyst Christopher Dixon....
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