SEC Eyes AOL-Oxygen Deal

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The Securities and Exchange Commission is investigating whether AOL Time
Warner Inc. double-booked a $100 million ad buy from Oxygen Media, tied to an
April 2001 carriage deal the network cut with Time Warner Cable, The Wall
Street Journal
reported.

AOL engineered the deal to reflect the ad buy at both America Online Inc. and
Time Warner Cable, the paper said.

'The accounting for the Oxygen deal was appropriate,' AOL spokeswoman Tricia
Primrose said Monday. Oxygen spokeswoman Kassie Canter declined to comment.

The agency is likely a matter of days from releasing a decision, which is
expected to be negative.

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