Friday, August 18, 2006

AOL Adds Another $584 Million to Restatements of Ad Sales - New York Times

Yikes... 

While AOL has based its new strategy on increasing advertising revenue, the ghosts of the old AOL continue to reduce sales it put on its books years ago.

Time Warner yesterday restated another $584 million related to revenue booked by its AOL division shortly after the two companies’ 2000 merger, bringing to more than $1.26 billion the total sales that AOL booked improperly over several years.

Source: AOL Adds Another $584 Million to Restatements of Ad Sales - New York Times

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