European regulators recommend block of AOL-Time Warner merger

BRUSSELS -- The European Commission's antitrust regulators have circulated a preliminary recommendation to block America Online Inc.'s (aol) proposed $113 billion acquisition of Time Warner Inc. (twx), according to people familiar with the situation.

The companies have until Sept. 24 to try to salvage the deal by offering new antitrust concessions to Brussels regulators, who have been critical of the merger from the very start. Full story to follow. -- Philip Shishkin, Wall Street Journal