Time Warner Records Extra $3 Million Loss On GameTap Sale

Though Time Warner wrote off $18 million in its second quarter credited to its sale of digital delivery service GameTap, the company's third quarter results now reveal a specific $3 million operating loss from the sale, too. Time Warner's Turner Broadcasting System, parent of GameTap, transferred the service to Paris-based Metaboli in September. Metaboli provides game distribution platforms and websites in Europe, a somewhat similar offering to GameTap's in the U.S. Turner will continue managing GameTap operations and provide technical and migration support through a transition period scheduled to conclude in early 2009. Afterwards, Metaboli will assume direct management of the business and brand, aiming to create a "global gaming service" under GameTap's brand in the States and its own in Europe.