Time Warner released its fiscal 2009 earnings results today, with subscription revenue from its networks’ distributors being the highlight amid slackening DVD sales, advertiser cutbacks and a post-election-year ratings slide for CNN, B&C reports.

For the year, Time Warner’s networks unit posted a 10 percent increase in subscription revenue, a 3 percent decline in advertising revenue and a 10 percent fall in revenue from content sales, such as HBO DVDs.

Subscription revenue was up 11 percent in the fourth quarter, while ad revenue was down 4 percent and content revenue was off 22 percent.

— Allison J. Waldman