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AOL Time Warner in trouble

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KernelPanic:
All i can say is haha.
 Breaking News article

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The world's largest media firm, AOL Time Warner, has admitted the US financial watchdog is investigating its accounting practices.

News of the investigation overshadowed the fact that the firm has reported its first profit since completing its mega-merger.

Despite the strong results, fears over the inquiry sent AOL shares 7% lower in after- hours trade, despite the broad gains in the rest of the markets.

The investigation by the Securities and Exchange Commission is in response to allegations in the Washington Post that the firm boosted online advertisement revenue through a series of "unconventional" deals between 2000 and 2002.

The investigation is still at the preliminary "fact-finding" stage.

That means there is no proof that AOL has been involved in the same sort of accounting deceptions that brought down Enron and WorldCom.

But such a fact-finding investigation was the first step that unravelled those firms.

AOL Time Warner has said in a statement that all its transaction have been in accordance with generally accepted accounting principles.

More soon.

tr_one:
The IRS nabbed Al Capone

I guess the SEC is going after the new "mobsters"

TheQuirk:
I actually like AOL Time Warner. They're one of the few companies that most idiots use, and they always try to combact with Microsoft. So it's either Microsoft or them.

Master of Reality:

quote:people are stupid
--- End quote ---

that includes you.

Ruck:
I can only see AOL battling MSN, which is not even much of anything to worry about. Once AOL releases a legitimately stable OS that can run on the PC platform is when I'll consider them a combatant of MS itself.

Anyway, I dislike how AOL TW is reaching it's tentacles everywhere and buying everything. It's about time someone put them in check, in my opinion.

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