Time Warner Net Falls on Legal Reserve
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Time Warner Inc. (TWX.N: Quote, Profile, Research) , the world&#39;s largest media company, on Wednesday reported an 8 percent drop in third-quarter net profit as it set up a
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NEW YORK -- Weak results from AOL tempered an otherwise strong quarter at Time Warner Inc., the company reported Wednesday, as gains from cable TV and the latest Harry Potter movie helped the media conglomerate meet Wall Street expectations.
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Time Warner is nearing settlement with the Securities and Exchange Commission and the Justice Department on the accounting scandal in AOL.
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Time Warner Inc. has reached a settlement deal with the US Department of Justice (DOJ) concerning accounting issues with its America Online Inc.
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MUMBAI: For the third quarter ended 30 September, the media and entertainment conglomerate Time Warner recorded a net income of $499 million.
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Merck, the US pharmaceutical giant forced to withdraw its Vioxx painkiller last year, has seen a drop in profits and had to add to its legal reserves.
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DULLES, Va. -- Time Warner Inc.'s America Online division, the biggest US Internet service, said it cut 750 jobs, or about 4 percent of its workforce, amid subscriber losses.
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Warner Music Group Corp  on Friday posted disappointing operating results and said it saw substantial pressure on operating income in the current quarter, and shares slid as much as 3 percent.
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Media giant Time Warner Inc. TWX.N  will pay fines of $210 million under an agreement with the U.S.  government to be announced on Wednesday to settle charges that  its America Online unit inflated revenue, a Justice Department  official said.
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With Time Warner Inc. having cleaned up its balance sheet in 2004 and long-running federal accounting investigations entering their settlement stage, shares of the world's largest entertainment conglomerate ended the year with a growth spurt. Some on Wall Street believe there could be more upside in the new year.
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UTStarcom Inc. on Tuesday said its third-quarter profit plummeted, but beat Wall Street expectations. The networking products company reported earnings of $5 million, or 4 cents per share, down from $59.
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Media giant Time Warner Inc.  will pay fines of &#36;210 million under an agreement with the U.S. government to be announced on Wednesday to settle charges that its America Online unit inflated revenue, a Justice Department official said.
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Shares of Media giant Time Warner Inc. were little changed Monday ahead of the company&#39;s third-quarter earnings report as investors wonder exactly what chairman Dick Parsons might say about its troubled America Online unit.
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Plus: Time Warner lowers earnings target...Electronic Arts lowers outlook, shares fall...Sony profit up, forecast cautious.
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Time Warner has said that it set aside $500 million to pay for potential penalties from a government investigation into accounting practices at America Online, a step that led to a 7.8 percent decline in profit in the third quarter.
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Warner Music Group, the world's  third-largest music company, on Wednesday posted a net loss in  its key December quarter, hurt by weak recorded music sales and  costs related to a high-end concert promoter it purchased last  May.
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Time Warner has reported revenue growth of 5% for its third quarter, but net income declined. The company may also have to restate its financial results for 2002 in connection with the investigation of accounting