Time Warner Earnings Support Argument Its Better Off Without a Merger
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Time Warner beat analysts’ profit estimates as fees received for its TV channels rose, lending support to Chief Executive Officer Jeff Bewkes’ argument that the company is better off without a merger.
Mr. Bewkes has said that his growth plan for an independent Time Warner will create more value than Rupert Murdoch’s $85-a-share buyout offer, which was rejected and then withdrawn in August. After years of spinning off assets to shrink Time Warner down to its cable networks, HBO and the WarnerBros. studio, Mr. Bewkes is now aggressively cutting costs and pushing the company’s content online.
“We’ve refocused the company over the past few years to aggressively pursue the huge global opportunities we see in video content,” Mr. Bewkes said today in a statement.
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