US West Inc has now made its previously announced $2,500m investment in Time Warner Inc’s Time Warner Entertainment unit: the investment will accelerate the building of the Full Service Networks, Time Warner’s two-way digital interactive television systems, in which the partners plan to $5,000m; and the US Federal Communications Commission granted the two a temporary reprieve from US rules banning telephone companies from offering cable television in their own regions – the agency said it granted an 18-month waiver to give Time Warner’s entertainment unit enough time to divest the eight cable systems it owns in US West’s service area.
