Time Warner said that its second-quarter net income fell 26% largely because of lower profits at its troubled AOL unit, the Wall Street Journal reports. Profits were up 18% at its TV networks segment which includes Turner Broadcasting and HBO. The company said ad sales rose by 11%, a marked contrast to last week’s report by Viacom, which said ad sales were barely higher. Total revenues for the company were up 5.2%.
AOL Hurts Time Warner Profit
Aug 6, 2008 • Post A Comment