Company Town

Cable: Time Warner Cable, the nation’s second-biggest cable system operator, is swapping systems in the Washington, D.C., area for Jones Intercable Inc. properties in Florida, South Carolina and Indiana. The swap, which was announced Monday, would increase Time Warner’s holdings in Tampa, Fla., Indianapolis and near Columbia, S.C., while Jones Intercable would expand its holdings in the Washington area. The swap, which is subject to regulatory approval, is part of the industry’s strategy to consolidate its cable holdings geographically so it can attract moreget better returns on its costly investments in new services. Jones Intercable would receive operations in Prince George’s County, Md., and Reston, Va. In addition to getting the new systems in Tampa, Orangeburg, S.C., and Carmel, Ind., Time Warner would receive $3.5 million in cash. Time Warner Cable, which is based in Stamford, Conn., has about 10 million cable subscribers. Englewood, Colo.-based Jones Intercable has about 1.3 million.