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Time Warner Inc. settled a $2.4 billion antitrust lawsuit by agreeing to pay Viacom International Inc. an unidentified amount of cash and to add Viacom channels to more of its cable television systems. The settlement marks a victory for Viacom, the parent of Showtime, The Movie Channel and MTV: Music Television, in its attempt to loosen Time Warner`s grip on the cable television industry. Time Warner agreed to carry Showtime and The Movie Channel on more of its cable systems. Time Warner also agreed to buy Viacom`s cable system in Milwaukee; increase advertising purchases on Viacom`s MTV, VH- 1 and Nickelodeon cable channels over the next five years; and conduct joint marketing campaigns for pay-television channels.
