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Closing a difficult chapter, Time Warner Inc. said Monday it would pay $300 million and restate three years of financial results to settle civil fraud charges stemming from its accounting of online advertising revenues and subscriber counts at its AOL unit.

Closing a difficult chapter, Time Warner Inc. said Monday it would pay $300 million and restate three years of financial results to settle civil fraud charges stemming from its accounting of online advertising revenues and subscriber counts at its AOL unit.

The settlement with the Securities and Exchange Commission also calls for the world’s largest media company to open its books to an independent examiner, which could result in additional restatements.

The details of the deal, which include no admission or denial of wrongdoing, are in line with a proposal the company made and disclosed last December. At that time, Time Warner also said it had agreed to pay $210 million to resolve charges of criminal securities fraud in a separate investigation by the Department of Justice.

The combined $510 million settlements should give Time Warner a freer hand to pursue acquisitions, including a joint bid with Comcast Corp. for the assets of Adelphia Communications Corp. But the agreements aren’t expected to resurrect Time Warner’s stock, which has lagged since its disastrous merger with AOL. Time Warner’s stock is still about 75 percent below the level it reached in early 2000, when it agreed to be acquired by the Dulles, Va.-based Internet company.

In trading Monday, Time Warner shares slipped 28 cents, or 1.5 percent, to close at $18.42 on the New York Stock Exchange, reflecting an overall decline in the market. Its shares have traded in a 52-week range of $15.41 and $19.90.

Time Warner CEO Dick Parsons said in a statement that the company was “pleased” to have resolved the investigation, and was committed to cooperating with the independent examiner and fulfilling its other obligations under the settlement with the SEC. The examiner’s report is expected in about six months.

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