NEW YORK — Oxygen Media is floating on air after receiving a major shot in the arm from AOL Time Warner.
The companies, which have an online strategic alliance, announced Tuesday a multiyear deal that calls for AOL Time Warner to make an equity investment in Oxygen and guarantees extensive cable distribution of Oxygen to 10 million predominantly analog Time Warner Cable subscribers in the third quarter of 2002.
Oxygen chairman and CEO Geraldine Laybourne said AOL Time Warner and Oxygen are developing a “deep strategic relationship on an ongoing basis.”
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