AOL Time Warner Venture Loses Appeal

An AOL Time Warner Inc. venture must pay more than $380 million in punitive damages and interest for mismanaging the Six Flags Over Georgia amusement park after the U.S. Supreme Court declined to hear its appeal.

Time Warner Entertainment said the jury award to its former partners in the Six Flags park is so excessive that it violates the U.S. Constitution’s due-process guarantee.

A Georgia state court jury concluded in 1998 that Time Warner Entertainment and affiliated companies under-invested in Six Flags Over Georgia from 1991 to 1997, violating their obligations as general partner of the park.