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Short Take: GTE contract with AOL extended

GTE's GTE Interworking division said it has been awarded a two-year, $500 million extension of its contract with America Online to continue to operate AOLnet, AOL's high-speed, dial-up network. The contract also stipulates that AOLnet will be expanded, bringing the total value of the contract to about $1.2 billion. The company said the deal extends its contract with AOL through June 2002. The original contract was signed between GTE unit BBN and AOL in March 1995.

GTE's GTE Interworking division said it has been awarded a two-year, $500 million extension of its contract with America Online to continue to operate AOLnet, AOL's high-speed, dial-up network. The contract also stipulates that AOLnet will be expanded, bringing the total value of the contract to about $1.2 billion. The company said the deal extends its contract with AOL through June 2002. The original contract was signed between GTE unit BBN and AOL in March 1995.