Time Warner to Restate Earnings Back to 2000
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From the Associated Press
Time Warner Inc. said it would restate its financial results after an independent auditor found problems with the way it accounted for a number of transactions in 2000 and 2001, mainly involving online advertising.
The restatement comes as part of a settlement with the Securities and Exchange Commission that was announced last year and required the company to pay a $300-million penalty. Time Warner will restate results going back to 2000.
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