Time Warner profits hit by big legal reserve
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Time Warner Inc., the world&#39;s largest media company, edged past Street estimates by a penny in its third-quarter results released Wednesday despite the creation of a big cash reserve related to its troubled AOL Internet unit.
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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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Is 2004 the year Time Warner settled down?
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The 5-year chart for Motley Fool Stock Advisor recommendation Time Warner (NYSE: TWX) fails to show the fantastic success of the Lord of the Rings trilogy and the Harry Potter series of films.
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Time Warner Inc. will pay $210 million to settle charges that its America Online unit fraudulently inflated its revenue figures. Separately, it is expected to pay about $300 million to settle SEC charges related to its buyout of a stake held by Germany's Bertelsmann AG in AOL Europe.
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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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NEW YORK -- Recording company Warner Music Group Corp. said Friday it swung to a profit in the fourth-quarter, bolstered by a hefty settlement benefit, but its results fell short of Wall Street's expectations.
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December 16, 2004 - Time Warner Inc. will pay $510 million and restate its 2001-2002 earnings for the third time as part of a settlement of criminal and civil charges related to its America
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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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Time Warner Inc., the world&#39;s largest media company, said third-quarter profit fell 7.8 percent after it set aside $500 million to resolve government investigations into its accounting practices at America Online.
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The charges of accounting improprieties at AOL date back to 2000. Some analysts had been expecting Time Warner to pay $500 million to $600 million to settle all of its criminal and civil charges with the Justice
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That&#39;s what some shareholders of the media and entertainment conglomerate believe in the face of Time Warner&#39;s stalled stock price.
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Time Warner Inc.  reported on Wednesday that quarterly profit rose 34 percent, boosted by AOL Internet asset sales in Europe and more digital cable and phone customers, but shares slipped as analysts said its 2007 outlook was overly conservative.
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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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Wall Street is cheering Time Warner&#39;s $510 million settlement to make two federal probes go away - while lawyers for angry investors are drooling over it.
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Time Warner Inc., the world&#39;s largest media company, said Wednesday that its third quarter earnings slid 8 percent as it set aside a $500 million reserve because of pending government investigations.
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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