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It seems pretty common for iCal feeds to us \n for line breaks. When events are imported into time.ly these are ignored in the description, and the whole thing comes in as one block of text.
Hello. Thanks for reporting this issue.
Can you please login to your Timely account and create a support ticket using the "get help" button? ( https://dashboard.time.ly/account/get-help )
Thanks,Timely Dev Team
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