Time Warner Inc. said Wednesday that net income grew 51 percent in the last three months of 2012, while revenue was largely unchanged. Rising fees from cable and satellite companies and higher ad revenue at the TV networks offset revenue declines at the movie studio and magazine businesses.
The company also announced a dividend increase and a new plan to buy back shares. The television networks business drove the quarter’s performance as revenue there grew 5 percent, offsetting declines elsewhere. The Warner Bros. studio business had a weaker release lineup in the most recent quarter, though it managed to report an operating profit with an emphasis on higher-profit TV production.
JOIN THE DISCUSSION | Register here
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.