Time Warner Inc. yesterday settled with the Securities and Exchange Commission, saying it would pay $300 million and adjust three years-the latter half of 2000, 2001, and 2002-of financial results
to settle civil fraud charges stemming from its accounting of online ad revenues and subscriber counts at America Online. Time Warner also agreed, without admitting or denying any wrongdoing, to
let in an independent examiner with access to the company's historical accounting records.