Time Warner Revenue Soars In Fourth Quarter
A surprising 14-percent jump in revenue from its cable-TV channels, led by advertising sales for TBS -- where Conan O'Brien launched his new late-night show in November -- boosted revenue for Time Warner past analysts' forecast for the fourth quarter. The company said that ad revenue from cable TV rose a total of 21 percent, presumably factoring in revenue from increased affiliate fees paid to them from cable TV operators. Time Warner networks also include CNN, TNT, HLN, truTV, Turner Classic Movies, and the Cartoon Network. The results, said Evercore Partners analyst Alan Gould, are "a sign of just how strong the cable advertising network market is." The company also said that its filmed entertainment division -- principally Warner Bros. (film and TV) and New Line -- saw a 10 percent increase in revenue to $3.6 billion in the fourth quarter. However, its publishing unit -- Time Inc. -- saw revenue fall 4 percent to $1.1 billion.