Time Warner CEO Jeff Bewkes Says CNN's Jeff Zucker Is 'Working Out Great'

Jeff Bewkes

Time Warner CEO Jeff Bewkes saw his 2012 pay remain pretty steady at $25.9 million. The company's stock rose around 30 percent last year, but his compensation was virtually unchanged. His stock awards amounted to $6.9 million, up from $6.1 million in 2011, but option awards declined from $3.96 million to $2.96 million.

Ratings at Fox News are bigger because viewers traditionally have tuned in to shorter CNN segments, says Bewkes.

Time Warner chairman and CEO Jeff Bewkes gave an endorsement of Jeff Zucker, who was hired in November to lead CNN.

"He's working out great," said Bewkes. "Watch CNN, and you see a lot more bounce in its step these days."

Speaking on Tuesday at the Jefferies Global Technology, Media and Telecom Conference, Bewkes said that CNN continues to hold a "very valuable position globally and in the U.S. is a leading news source."

As for Fox News, Bewkes said: "The reason why ratings are smaller than Fox — people tune in for a much shorter time. We want to reinvigorate CNN so it is not only the place to go for breaking news, but so that people want to check in every day to see what CNN has to say -- and not just for breaking news and politics."

Bewkes added that he was encouraged by new shows like Anthony Bourdain Parts Unknown.

"I think the new anchors we brought in, these are an indication of the increased breadth and pacing that we are going to add," he said.

Bewkes acknowledged that morning has been a problem spot on CNN, but, alluding to the coming show New Day with Chris Cuomo, Kate Bolduan and Michaela Pereira, he quickly added, "We are on course to do better."