No Time for NBC Universal

June 01, 2008 Time Warner's core content business will grow operating income before interest, depreciation and amortization well above the mid-single-digit percentage range starting next year, CEO Jeffrey Bewkes said. Speaking at the Sanford C. Bernstein Strategic Decisions Conference, Bewkes also signaled little interest in buying NBC Universal if it came up for sale and said TW's Turner cable networks are not seeing the drag Viacom CEO Philippe Dauman reported in auto and other key ad categories amid a weak U.S. economy. The CEO spent time Friday providing more color on his recent suggestion that the Street is underestimating the core content divisions' potential, expressing hope that TW's "undervalued" stock will reflect more of the strength in content after the spinoff of TW Cable, which is expected in the fourth quarter.

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