Levin no Longer Team Player2/18/2001 07:00:00 PM Eastern
A management shake-up at cable TV producer Team Communications Group followed the company's warning that it would report much larger than expected losses for 2000. Company CEO Drew Levin was replaced last week by Michael Jay Solomon, former head of Warner Bros.' international TV division and a member of Team Communications' board. In addition to a $21 million charge against earnings for the year 2000, the company said it would report a loss of perhaps $19.5 million "or potentially a larger amount." It also said it is examining several program acquisitions and distribution deals made last year to see if they "lacked economic substance."