TW chases charges on Road Runner
By BroadCasting & Cable Staff -- Broadcasting & Cable, 8/20/2000 8:00:00 PM
Time Warner could take a $150 million-to-$250 million charge related to the restructuring of its broadband Internet service Road Runner, the company reported Monday.
"This charge would be expected to cover any premium paid to redeem Road Runner's Preferred Equity Interests, lease termination and other related restructuring costs," the company wrote in a quarterly earnings report at the Securities Exchange Commission.
Cable operator MediaOne owns 31.4% of Road Runner, but the Department of Justice ruled in June that AT & T must divest that interest within 18 months in order to complete its purchase of MediaOne.
Time Warner and its partner companies own 57.9% of Road Runner.
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