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Time Warner Agrees Settlement Over AOL Revenue Figures

by Glen Shapiro, LawAndTax-News.com, New York

17 December 2004


Media giant Time Warner on Wednesday agreed to pay $210 million in penalties as part of a deferred prosecution agreement reached with the US Department of Justice (DoJ).

This is the end result of a two year probe conducted by the Justice Department into allegations that several employees with its AOL operation artificially inflated the ISP's revenue figures.

Under the terms of the settlement, in addition to paying its $210 million fine, Time Warner has pledged its cooperation in the government's investigations of the AOL employees who perpetrated the fraud. If Time Warner complies with the deal for the duration of the two year deferral of prosecution period, the DoJ will dismiss the charges against it.

Commenting on the settlement on Wednesday, US Deputy Attorney General, James Comey announced that:

"The agreements we've reached today with America Online and Time Warner give the company a chance to turn itself around and avoid the consequences of a criminal conviction."

However, some observers have suggested that additional criminal charges could be brought as the investigation progresses.


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