Nov 04, 2009

NEW YORK -- Time Warner's third-quarter profit fell 38%, but exceeded Wall Street expectations, leading the media giant to raise its full-year profit forecast. TW on Wednesday reported stronger profitability in its TV networks and film units, while the magazine division and AOL, which is expected to be spun off in early December, were weaker. TV advertising revenue declined only about 1% in the latest sign of improving industry trends. TW's overall quarterly profit of $661 million was...More