CSG on the Hook for $119.6M to Comcast10/29/2003 10:25 AM Eastern
An arbitrator in a contract dispute between CSG Systems International Inc. and Comcast Corp. has reaffirmed that CSG must pay $119.6 million in damages to Comcast.
The judge ruled earlier this month that the billing and customer-care vendor had violated the most-favored-nations clause in the contract Comcast inherited when it acquired AT&T Broadband.
CSG executives asked for reconsideration of the award, arguing that the arbitrator made a mathematical error that could result in a $50 million reduction in damages. But the award was upheld Monday, according to CSG's third-quarter report.
CSG has already paid $65 million to Comcast. It did not state when it will pay the remaining $55 million, but the company added that it anticipated an income-tax benefit because it paid the damages.