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Time Warner CEO Jeff Bewkes Wednesday gave investors his take on the subscription video on demand (SVOD) business, specifically Netflix, which has been inking deals left and right.
"It's not really a change in the syndication business," he cautioned. "We've been saying for a while that subscription VOD is the right place for serialized and library product—on the normal syndication market, serialized product didn't have that much value." But its value to the company was fully $350 million last year, and that's vital cash for the company, which is fighting soft ad sales and weak box office returns with strength in its television groups.
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