US heavyweights lead $9bn Time Warner cable sale
Cravath Swaine & Moore and Paul Weiss Rifkind Wharton & Garrison have bagged lead roles on the divestment by by Time Warner of its cable division in a $9.25bn deal, as the US media giant moves to refocus on its core television network, film and publishing operations. Time Warner - the world's largest media conglomerate - is being advised on the spin-off of Time Warner Cable by longstanding counsel Cravath, with corporate partners Richard Hall, Stephen Burns and Eric Schiele leading the deal team. Also involved for the elite Manhattan firm are finance partner Timothy Massad, tax department chair Stephen Gordon, tax partner Lauren Angelilli and employee benefits partner Eric Hilfers.
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