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Post: SEC to Seek Charges Against Time Warner for AOL Ad Deals

Authored by Mark Hefflinger on April 13, 2004 - 6:23am.
Dulles, Va. -- Media giant Time Warner may soon be charged in connection to $400 million in questionable advertising revenue that it booked following its 2001 merger with America Online, The Washington Post reported on Tuesday. The revenue being examined by the Securities and Exchange Commission reportedly stems from a $400 million ad deal with German media giant Bertelsmann. The SEC has alleged that AOL inflated its ad revenue through several deals, including the one with Bertelsmann. "There were a lot of deals that were not kosher," an unnamed government officials told The Post. The SEC reportedly plans to send a formal letter outlining the specifics of the case to Time Warner by early this summer, and negotiations for a possible settlement could follow several weeks later. The Post said that the SEC is also considering financial sanctions against the company.
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tags: AOL | SEC | Time | Post |

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