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| AT&T Asks $1 Billion of AOL Time Warner by Jeremy at 6:23 am EDT, Jul 29, 2002 | |||
AT&T is seeking at least $1 billion in cash from AOL Time Warner as a condition for accepting AOL's plan for dissolving the Time Warner Entertainment joint venture. If AT&T and AOL do not make a deal, TWE will either become a public company or the partnership's rules say that AT&T can require AOL to buy out as much of AT&T's stake as Bank of America determines the public would buy. In short order, AOL could find itself having to fork over $9B in cash or risk losing its crown jewel, HBO. | |||
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