Nov 04, 2009

Time Warner's AOL and Time Inc. divisions continue to eat into its bottom line, as the media conglomerate posted third-quarter net income of $661 million, or 55 cents a share, a 38 percent decline versus its year-ago profit of $1.07 billion, or 89 cents a share. Consolidated revenue fell 6 percent to $7.14 billion. AOL's ad sales revenue fell 18 percent versus the year-ago period, while subscription dollars dropped another 29 percent. Both declines contributed to the loss of half of the... More