January 8, 2009 |
Media company Time Warner Inc. said Wednesday that it expected a fourth-quarter charge of $25 billion to write down the value of its cable, publishing and AOL assets, leading to a loss for the year. New York-based Time Warner said its results, particularly for its AOL and publishing assets' advertising operations, had been pressured by economic conditions that were more difficult than it initially anticipated. Time Warner's cable television arm, Time Warner Cable Inc.
August 7, 2008 |
Declines in revenue and operating income at Time Warner Inc.'s struggling AOL division crimped the media giant's results in the second quarter, despite strong gains in cable television and a solid performance at its movie studio. Time Warner reported net income of $792 million, or 22 cents a share, for the second quarter ended June 30, down 26% from $1.07 billion, or 28 cents a share, in the same period last year.
May 22, 2008 |
Time Warner Inc. said Wednesday it would formally split off its cable TV business, giving the media conglomerate a $9.25-billion windfall and allowing it to focus on cable network, entertainment and publishing operations. The separation of Time Warner Cable Inc. would get Time Warner out of the media distribution business altogether, something investors had been clamoring for.
April 15, 2008 |
Time Warner Inc. said it would eliminate 450 positions at its New Line Cinema unit after the decision to combine the studio with the Warner Bros. Entertainment division. Forty to 50 people will remain with New Line and about 40 will be offered jobs at Warner Bros., a spokesman said.
March 29, 2008 |
Time Warner Inc., the world's largest media company, must share control of the Superman copyright with the heirs of the comic hero's creator, Jerome Siegel, a federal judge has ruled. Siegel's widow, Joanne, and their daughter, Laura Larson, won back his half of the copyright to Superman material, under the order this week by U.S. District Judge Stephen Larson in Riverside.
February 23, 2008 |
Time Warner Inc. said in its annual regulatory filing Friday that it expected to cut more jobs in its magazine publishing division in the first quarter, resulting in $10 million to $20 million in expenses. Time Inc. spokeswoman Dawn Bridges said that the job cuts affected fewer than 100 people and that most of them already had occurred in various parts of the company. Time Inc. has a global workforce of more than 10,000.
February 7, 2008 |
Time Warner Inc. said Wednesday that it was splitting AOL into two parts in a move analysts predicted would pave the way for a sale of the slumping Internet-access business that made the online pioneer famous. Chief Executive Jeffrey Bewkes, in his first conference call with analysts since succeeding Richard Parsons as CEO in December, said the company was optimistic about AOL's faster-growing content and advertising sales business.
November 10, 2007 |
Time Warner Inc. signed a five-year employment agreement with incoming Chief Executive Jeffrey L. Bewkes and signaled that Bewkes would add the chairman's title at the end of next year. The media conglomerate, in a regulatory filing Friday, said Bewkes would receive annual base pay of $1.75 million, plus an annual target bonus of $8.5 million. The base pay is a raise from his $1.25-million salary this year as president and chief operating officer, and the target bonus is up from $7.5 million.
November 7, 2007 |
Jeffrey Bewkes, the incoming chief executive of Time Warner Inc., named John K. Martin to be chief financial officer. Both begin their new jobs Jan. 1. Martin had most recently been chief financial officer of Time Warner Cable, one of the largest business units of Time Warner and the second-largest cable company in the country, behind Comcast Corp. Martin, 40, succeeds Wayne Pace, 61, who is retiring.
November 6, 2007 |
The long-awaited leadership change at Time Warner Inc. announced Monday comes as the world's biggest media company faces pressure to refocus -- and perhaps discard -- some of its signature assets to get more nimble in a fast-changing media industry. Among the properties that could be up for grabs are AOL, the pioneering Internet service provider and portal, and Time Warner Cable Inc., the nation's second-largest cable TV company. Time Inc.