Broadwing Inc., struggling parent of Cincinnati Bell, said Friday it expects a $41.2 million non-cash gain in third quarter revenue as a result of a settlement releasing it from obligations to Teleglobe Inc., a telecommunications provider with operations in the United States and Canada that is in bankruptcy reorganization.

        The settlement, approved by Canadian authorities overseeing Teleglobe's reorganization, releases Broadwing from obligations to provide circuits to and purchase international service from Teleglobe.

        Both parties also are released from outstanding claims against each other and Broadwing paid $4.25 million to Teleglobe, Broadwing said. Meanwhile, Broadwing reportedly has filed objections in bankruptcy court in New York to WorldCom Inc.'s request to pay severance benefits to some laid-off employees, arguing it could violate priority claims of Broadwing and others.

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