Time Warner Nears SEC Settlement
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Time Warner is close to a deal with the U.S. Securities and Exchange Commission that would put to rest allegations of accounting fraud within America Online, The Washington Post reported. Time Warner is said to have agreed to a settlement figure of almost $750 million, but the SEC and U.S. Department of Justice would continue separate investigations of AOL employees. Time Warner was being investigated for its purchase of Bertelsmann's share in AOL Europe and for improper booking of AOL advertising revenues.