time warner inc (AOL1) Snapshot

Time Warner Inc. and China Media Capital announced the formation of a strategic investment partnership. The goal of the partnership is to capitalize on China's rapidly expanding media sector as digital devices proliferate and China's demand for high-quality content across multiple platforms rises.

Time Warner Inc. Presents at Nomura Global Media Summit 2013, May-30-2013 01:45 PM. Venue: Four Seasons Hotel New York, 57 East 57th Street, New York, NY 10022, United States. Speakers: Richard R. Plepler, Chief Executive of Home Box Office Unit.

Time Warner Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $6,939 million compared to $6,979 million a year ago. Operating income was $1,410 million compared to $1,247 million a year ago. Income before income taxes was $1,102 million compared to $927 million a year ago. Net income attributable to the company shareholders was $720 million or $0.75 per diluted share compared to $583 million or $0.59 per diluted share a year ago. Cash provided by operations was $729 million compared to $416 million a year ago. Capital expenditures were $85 million compared to $133 million a year ago. Adjusted net income was $785 million $0.82 per diluted share compared to $661 million $0.67 per diluted share a year ago. Free cash flow was $935 million compared to $318 million a year ago. Total adjusted operating income was $1,440 million compared to $1,351 million a year ago. Adjusted Operating Income grew 7% due to increases at the Networks and Film and TV Entertainment segments, offset in part by declines at the Publishing segment. The company ended the quarter with $16.9 billion in net debt, which is pretty similar to where the company ended 2012. For the first quarter ended March 31, 2013, the company reported asset impairments of $27 million compared to $52 million a year ago.