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Sports Deal Could Cost Time Warner

Sep 11, 2008  •  Post A Comment

Time Warner could lose $500 million because its Turner Broadcasting System arm backed out of an oral agreement to sell off its Atlanta NBA and NHL professional sports teams in 2003 to David McDavid, part owner of the Dallas Mavericks, Bloomberg reports. McDavid filed a lawsuit that will go to trial next month seeking damages equal to the value of replacing the sports teams.
—Sergio Ibarra

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