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Short Take: Time Warner, TCI team for Texas cable venture

Cable giants Time Warner and Tele-Communications Incorporated inked a joint venture to provide cable TV service in Houston and Southern Texas, which Time Warner will manage. Both companies will contribute systems representing about 540,000 customers. The announcement comes amid rumors that AT&T, which is in a deal to buy TCI, will partner with Time Warner for local phone or Internet service.

Cable giants Time Warner and Tele-Communications Incorporated inked a joint venture to provide cable TV service in Houston and Southern Texas, which Time Warner will manage. Both companies will contribute systems representing about 540,000 customers. The announcement comes amid rumors that AT&T, which is in a deal to buy TCI, will partner with Time Warner for local phone or Internet service.