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NEW YORK Time Warner reported yesterday that third-quarter ad revenue for its struggling America Online division dropped 33 percent compared to the year-earlier period.
The New York-based media giant attributed the falloff to the reduction of benefits of prior-period contract sales of about $96 million, as well as lower inter-company revenues of $36 million.
Overall Q3 revenue for the Internet unit was $2.1 billion, flat with last quarter and down 5 percent from $2.2 billion in the year-ago quarter.
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