By Kenneth Li 7 minutes ago NEW YORK (Reuters) - Time Warner Inc (TWX.N) will completely split with Time Warner Cable Inc (TWC.N) by the end of the year, and receive a $9.25 billion payout, to separate its media content and distribution businesses.The plan will break up a two-decade marriage of traditional distribution and content, a strategic combination of assets that has fallen out of favor on Wall Street as big media corporations compete with faster-moving Internet companies.
Left unanswered is how Time Warner Inc's 85 percent ownership of Time Warner Cable will be distributed to Time Warner Inc shareholders. Details will be decided closer to the closing of the deal in the fourth quarter, executives said.
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