AOL Latin America May File for Bankruptcy

America Online Latin America Inc., the unprofitable Latin American unit of Time Warner Inc., said it might file for bankruptcy protection because it didn’t have enough cash to fund its business beyond September and to pay debt.

Fort Lauderdale, Fla.-based AOL Latin America said in a filing with the Securities and Exchange Commission that efforts to raise financing had been futile. AOL Latin America said it was seeking to sell all or part of its business to raise cash.

AOL Latin America, a joint venture of New York-based Time Warner, Venezuela’s Cisneros Group and Brazil’s Banco Itau, operates in Mexico, Brazil, Argentina and Puerto Rico.