- Marble Hill fires entire sewer department (8/23/16)3
- Witness says he saw man shoot Domorlo McCaster (8/19/16)2
- Students move into new fraternity housing at Southeast Missouri State University (8/18/16)2
- Southeast imposes 'interim suspension' of Sigma Nu fraternity over vandalism incident (8/19/16)21
- Ex-Southeast student gets probation for placing homemade sex video on porn site without woman's knowledge (8/24/16)4
- The Chrome Queens (8/21/16)2
- Pitmasters to descend on Arena Park for Cape BBQ Fest (8/19/16)2
- Logan's Roadhouse in Cape not closing; Ruby Tuesday fate still unknown (8/17/16)
- Local private school dreams bigger, plans for new building at Sprigg and Lexington (8/22/16)
- Gender-neutral restrooms now available at Southeast (8/18/16)38
Time Warner settles SEC fraud charges, pays $300 million penalty
NEW YORK -- Closing a difficult chapter, Time Warner Inc. said Monday it would pay $300 million and restate three years of financial results to settle civil fraud charges stemming from its accounting of online advertising revenues and subscriber counts at its AOL unit.
The settlement with the Securities and Exchange Commission also calls for the world's largest media company to open its books to an independent examiner, which could result in additional restatements.
The details of the deal, which include no admission or denial of wrongdoing, are in line with a proposal the company made and disclosed last December. At that time, Time Warner also said it had agreed to pay $210 million to resolve charges of criminal securities fraud in a separate investigation by the Department of Justice. The combined $510 million settlements should give Time Warner a freer hand to pursue acquisitions.