DOJ, SEC settling with TimeWarner: rewarding CNN's media-whoring for Bush?

[DeepModem Mom]

Page-one, New York Times, today:

Settlements Seen in U.S. Inquiries Into Time Warner
By GERALDINE FABRIKANT

Published: December 15, 2004

Time Warner is expected to announce a settlement with the Justice Department in its investigation of advertising deals between America Online and smaller Internet companies that may have allowed America Online to exaggerate its growth, an official close to the case said yesterday. The announcement could come as early as today.

The company may also announce a tentative agreement with the enforcement division of the Securities and Exchange Commission, which is conducting a separate investigation into accounting irregularities at America Online, the official said. Time Warner is expected to pay $500 million to $600 million to settle all civil and criminal accusations with the two agencies.

Time Warner is expected neither to admit nor deny wrongdoing, the official said. A Time Warner spokesman declined to comment.

Time Warner has been pushing to conclude the two investigations before the end of the year, in part to help put the last issues from the widely criticized America Online merger behind it and in part because it wants to join with the Comcast Corporation to bid for part or all of Adelphia Communications, the bankrupt cable television company.

For two years, the Justice Department and S.E.C. cases have restricted the company's ability to finance deals. Time Warner has disclosed in its S.E.C. filings that it is unable to issue new stock or borrow money through the debt markets while the S.E.C. is questioning the reliability of its audited financial statements....

http://www.nytimes.com/2004/12/15/business/media/15media.html


TimeWarner is, of course, CNN's parent company. TimeWarner's business goals have been stifled by this trouble with the Justice Department and the SEC. CNN did all they could to elect Bush. Election now over, Bush "won," DOJ and SEC settle, and TimeWarner back in business!

[KharmaTrain]

1. Quid Pro Quo Defined

Excellent catch!

There's also a lot of moving and shaking of the major television powers to gobble up more local stations...the light is flashing bright green.

Is David Brock on this story? If not, why not? Sadly, this is too complex for most people to consume. No sex, no death penalty. They just shrug, turn on CNNservative, HBO, read their Sports Illustrated and bitch.

Sadly, Alternative media is so unorganized and busy fighting itself to even make a peep.

[tom_paine]

2. More Third World Corruption in Imperial Amerika

Quid pro quo simply doesn't cover the depths of iniquity that Amerika has sunk to under the Imperials.

Ah, if only we bootlicking Imperial Subjects had the backbone of Ukrainians!

[DeepModem Mom]

3. Someone the other day was lamenting your absence, tom...

and that of some other DUers. If indeed you have been absent, we missed you!

[DeepModem Mom]

4. Shameless kick --