AOL Parent Sets Up $500 Million Reserve
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Time Warner Inc. said yesterday that it is creating a $500 million reserve in response to the federal investigations of its America Online unit and that it also will restate AOL Europe&#39;s financial results for 2000 and 2001.
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Time Warner has been forced to set aside $500 million to deal with legal costs following investigations into accounting practices at the world&#39;s biggest media company.
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Telecom Italia SpA has taken time off from a reorganization that has plunged the country's politics into turmoil by paying 675m euros ($870m) cash for Time Warner's AOL Germany internet access business in a deal that will make it Germany's second largest ISP.
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Averting a looming court battle over how it has handled the exodus from its Internet dial-up service, AOL has agreed to make it easier for its remaining customers to leave as part of a $3 million settlement with 48 states and the District of Columbia.
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Foundation offers $500 grants to all newborns â provided their parents open a college-savings account.
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The parent of Fidelity Investments, the mutual fund giant, owned 5.2 million shares of Google&#39;s Class A stock at the end of August, according to a regulatory filing on Friday.
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(InfoWorld) - AOL has named Ron Grant president and chief operating officer (COO). Grant was most recently the senior vice president for operations at AOL's parent company, Time Warner, where he worked closely with President and COO Jeff Bewkes on strategy, digital initiatives and operations. As part of his duties, he was key to developing AOL's new strategy focused on advertising. His appointment was announced on Tuesday by AOL'sÂ newly installed chairman and chief executive officerÂ (CEO), Randy Falco, who had been president and COO of NBC Universal Television Group before being tapped to replace Jonathan Miller in the top job. Miller was ousted earlier this month after leading Time Warner's Internet division since 2002. AOL was already in decline when Miller became chairman and CEO and he was unable to arrest its slide, with cable and broadband Internet companies continuing to steal subscribers from AOL and its model based heavily on dial-up service. The company announced in August that it was restructuring that business model, turning the AOL site into a free portal with the aim of bringing in revenue from online advertising. AOL also said it would lay off up to 5,000 employees. Grant obviously is well aware of what he's getting into as he moves from the parent company to the subsidiary, where he previously was senior vice president of business affairs and development, managing a team in charge of business development. Grant's "deep knowledge" of AOL and the Internet market, plus his relationships with others at Time Warner are "critical" factors in AOL's change in strategy, Falco said in a written statement.ADVERTISEMENTNEW IT SERVICES FROM IBM: EASIER TO BUY AND IMPLEMENTDiscover a simpler, more cost-effective way to get the solutions your company needs to grow more flexible and efficient.
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The fight for the Internet portal could top $50 billion.
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November 05, 2004 - A government investigation into accounting practices at America Online has prompted Time Warner to set aside $500 million to cover the costs of potential fines.
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Members could have automatic access to easy backup on AOL servers.
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Time Warner has agreed to pay more than $500 million to settle wide-ranging criminal and civil allegations that its America Online division improperly pumped up revenue and engaged
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AOL said Thursday it expects to drop as many as 5,000 employees, or a quarter of its global work force, within six months as the company restructures its business to draw more online advertising dollars.
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explanation of market-timing, further attorney comment. Picks up last graf. Also moving on general news wires. DENVER  _ The former chief executive of Invesco Funds Group has agreed to pay $500,000 to
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By RICHARD METCALF Journal Staff Writer  An Ohio customer service provider is in negotiations to bring 500 call center jobs to fill AOL's nearly empty building near Jefferson and Osuna NE.   Convergys Corp.
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TIME WARNER has agreed to pay $510 million (Â£262 million) to settle claims that America Online (AOL), its internet division, overstated its earnings capacity.
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Parents who lost a son to cancer have built a website using their own funds to help other patients make sense of complicated treatment information. By Kristen Philipkoski.
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[New York | Reuters News Service, 4 November 2004] - Time Warner yesterday posted an 8% drop in quarterly net profit as it set up a $500 million legal reserve related to accounting probes at its America Online division and said it will restate results