$60M 4Q Charge for Time Warner

12/10/2004 5:35 AM Eastern

Time Warner Inc. said in a Securities and Exchange Commission filing Friday that it will take a $60 million charge in the fourth quarter.

The charge is related to severance benefits as a result of America Online Inc.’s restructuring.

AOL is reportedly cutting some 700 jobs, or 5% of its work force, this month, according to AP.

Want to read more stories like this?
Get our Free Newsletter Here!