Media conglomerate Time Warner said on Monday its cable division would increase its stake in the Road Runner high speed Internet service, as part of a restructuring made possible by a pact between AT&T, one of the other shareholders in the service, and the US Justice Department.
The restructuring ends Road Runner`s exclusivity agreement with Time Warner Cable, which was originally set to expire at the end of 2001.
The end of the exclusivity agreement allows Time Warner Cable to make its cable lines available to rival Internet service providers, a key condition to gain approval from the US Federal Trade Commission of its merger with America Online.
The company plans to take a one-time fourth quarter charge of $20 million to $40 million related to the restructuring.
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