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Time Warner seeks approval of reverse-stock split

What You Should Have Read, Dec. 2, 2008

Published on .

Time Warner seeks approval of reverse-stock split

The Associated Press, via Business Week reports that Time Warner is asking its shareholders to approve a reverse-stock split that would reduce the number of outstanding shares and double or triple the share price, according to a securities filing. The company believes the reverse split will improve liquidity in the stock following the planned spinoff early next year of Time Warner Cable, the nation's second largest cable operator, which could cause Time Warner's shares to fall. As of Nov. 20, there were 3.59 billion outstanding common shares in Time Warner.
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