Time Warner Posts Strong End-Of-Year Results
Time Warner Inc. (TWX) posted year-end revenues of $25.8 billion and a profit of $4.5 billion this year.
Revenue at the media giant’s Networks (Turner Broadcasting and HBO) and Filmed Entertainment (Warner Bros.) divisions rose in the single digits to $3.0 billion and $3.3 billion, respectively, while revenue fell at the company’s publishing division (Time Inc.) to $1.1 billion.
Time Inc., of course, slashed hundreds of jobs late last year in an attempt to find $100 million in payroll savings.
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