Time Inc. spinoff delayed until early next year

Time Warner said Tuesday that it won't complete its plan to separate Time Inc. division into an independent company this year as anticipated, prolonging a period of uncertainty at the publishing division just a little bit longer.Executives now intend to complete the spinoff early next year, Time Warner CEO Jeff Bewkes said during a conference call with analysts to discuss the company's second quarter results, to ensure the best position for Time Inc. as it starts life on its own. Mr. Bewkes also said he didn't want to rush Joe Ripp, who was named Time Inc.'s latest CEO last month and doesn't officially start until September.Time Warner reported second-quarter profit that topped analysts' estimates, boosted by higher advertising revenue at its cable networks, which include TNT, HBO and CNN.Excluding some items, earnings were 83 cents a share in the period, surpassing the 76 cents that analysts predicted on average, according to data compiled by Bloomberg. Network advertising sales rose 11%, helped by the National Basketball Association playoffs on TNT and the college basketball tournament, the company said.Net income increased to $771 million from $413 million a year earlier. Revenue advanced 10% to $7.4 billion, topping the $7.1 billion estimate.Mr. Bewkes has focused Time Warner's growth strategy on its TV business, which accounts for more than 70% of operating income."Our networks businesses, Turner and HBO, continued to shine, reflecting the success of our increased... Continue reading at 'Crains New York'

[ Crains New York | 2013-08-08 00:00:00 UTC ]
News tagged with: #media companies #entertainment businesses #tv stations #tv studio

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How Did AT&T’s $100 Billion Time Warner Deal Go So Wrong?

At Time Warner, executives saw AT&T as just a “big phone company from Texas.” At AT&T, they thought Hollywood would play by their rules. That combination led to strategic miscalculation unrivaled in recent corporate history. Continue reading at The New York Times

[ The New York Times | 2022-11-19 10:00:26 UTC ]
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Apple's 10.2-inch iPad drops to $270, plus the best early Black Friday deals so far

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[ Engadget | 2022-11-18 17:15:53 UTC ]
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Amazon's Black Friday sale brings Kindle e-readers back to all-time lows

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[ Engadget | 2022-11-18 13:13:24 UTC ]
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Livres Canada Books: 50 Years Supporting Canadian Publishing

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[ Publishing Perspectives | 2022-11-15 15:02:21 UTC ]
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These are the 10 Best Books of the Year, According to Amazon Book Editors

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[ Book Riot | 2022-11-15 14:00:00 UTC ]
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Here are the Brooklyn Public Library’s most-borrowed books of all time.

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[ Literrary Hub | 2022-11-14 15:09:34 UTC ]
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Aaron Carter memoir delayed amid pushback from singer's publicist and Hilary Duff

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[ Los Angeles Times | 2022-11-14 00:40:03 UTC ]
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This is the Best Book of the Year, According to Barnes and Noble Booksellers

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[ Book Riot | 2022-11-11 15:00:02 UTC ]
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NPD BookScan: The US Market, Early 2022 Holidays

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[ Publishing Perspectives | 2022-11-07 18:29:40 UTC ]
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[ The New York Times | 2022-11-02 23:00:05 UTC ]
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[ Los Angeles Times | 2022-11-01 14:00:17 UTC ]
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[ Publishers Weekly | 2022-10-27 04:00:00 UTC ]
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[ Engadget | 2022-10-23 14:30:06 UTC ]
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[ The Guardian | 2022-10-18 09:45:58 UTC ]
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[ Los Angeles Times | 2022-10-16 13:00:47 UTC ]
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