Time Warner is close to a deal with U.S. regulators to pay about $750 million (€576 million) to settle allegations of accounting irregularities at its America Online division, The Washington Posthas reported.
The proposed deal would cover all fines and penalties and other payment from Time Warner necessary to resolve US Securities and Exchange Commission and Justice Department investigations, the newspaper reported.
However, it would not end ongoing SEC and Justice Department investigations of various people who worked for America Online, according to the Post.
Spokesmen for Time Warner and the SEC could not be immediately reached for comment.
The $750 million figure is higher than the $500 million legal reserve Time Warner said earlier this month it had set up to cover accounting inquiries at America Online.
The SEC has been investigating Time Warner's accounting for its purchase of German media giant Bertelsmann's stake in an AOL Europe joint venture. AOL is also being investigated for how it booked advertising deals and the way it booked subscriber figures.
The Washington Postreported that settlement negotiations were continuing and while those involved were optimistic of reaching an agreement, the situation remains fluid.
For example, the final dollar figure agreed upon as part of the settlement could be somewhat higher or lower than $750 million, the newspaper said.