05.05.2008 03:26 PM
Time Warner to spin off cable division

Time Warner said last week that it will completely spin off its cable company — Time Warner Cable — essentially shedding the profitable division that has been responsible for much of the company’s recent fortune.

Jeffrey L. Bewkes, who became chief executive in January, succeeding Richard D. Parsons, said the company would become a pure content provider, revolving around two core content businesses: the Warner Brothers movie studio and Turner Networks, which includes the television channels TNT, TBS, HBO and CNN.

Bewkes signaled that Time Warner would compete more directly with the broadcast networks for viewers and advertising dollars. “We believe Turner is now positioned better than ever to challenge the broadcast networks,” he said in a conference call with reporters.

AOL, the Internet division owned by Time Warner, is still a question mark for Bewkes, who has been in discussions about a possible deal to combine it with Yahoo, which itself has been fighting off a bid from Microsoft.


Comments
Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found




Thursday 10:05 AM
NAB Requests Expedited Review of Spectrum Auction Lawsuit
“Broadcasters assigned to new channels following the auction could be forced to accept reductions in their coverage area and population served, with no practical remedy.” ~NAB


 
Featured Articles
Research & Standards
Discover TV Technology