Time Warner today posted a lower quarterly profit as the media company saw declines in its film and TV entertainment and publishing units, while advertising revenue for its cable networks missed some analysts' expectations.
Time Warner logged a 2 percent increase in advertising for its networks division, which includes TNT, TBS, HBO and CNN. Gabelli and Co analyst Brett Harriss said the modest gain was lighter than he expected, considering Discovery Communications Inc, which owns a stable of cable networks, on Tuesday posted a 7 percent rise in ad revenue.
The above information has been taken from sources we believe to be reliable and trustworthy. However the accurateness and completeness thereof are not guaranteed and therefore should not be relied upon as such. AIB does not endorse or approve the content of any information from third party sites nor will it have any liability in connection with any third party site (including but not limited to liability arising out of any allegation that the content of or information on any third party site infringes any law or the rights of any person or entity)