Littleton, Colorado-based Time Warner Telecom Inc. (TWTC) is one of the largest and most successful competitive local exchange carriers (CLECs) in the U.S. The company was formed as a unit of Time Warner Cable in 1993. The company's strategy is to leverage its fiber optic network to offer a broad range of value-added telecom services to large and medium-sized businesses in select metropolitan areas. In a major strategic move, Time Warner Telecom facilitated a secondary common stock offering by its Class B shareholders (founding stockholders and major owners) for 43.5 million shares of Class A common shares. Through this transaction, all the outstanding Class B shares were converted into Class A common shares, making Time Warner Telecom a non-controlled company. This conversion increases the company's floating stock by 55% and gives 100% control to Class A shareholders.
Time Warner Telecom reports its revenue in the following segments: Network Services, Voice Services, Data and Internet Services, and Inter-Carrier compensation. In the third quarter of 2007, Network Services (formerly dedicated transport services) contributed 35.9% of revenue, Data and Internet Services represented 30%, Voice Services (formerly switched services) accounted for 30%, and the remaining 4.1% was derived from Inter-Carrier compensation.
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