• by David Goetzl  @dgoetzl, August 3, 2011

A cable network that started largely to broadcast Atlanta Braves games nationally (TBS) and one that debuted in 1988 as a depository for library content (TNT) continue to establish themselves decades later as hugely valuable assets at Time Warner.

CEO Jeff Bewkes made that clear again Wednesday, citing the success of the Turner networks in the recent upfront market as he began his comments about the company's second quarter.

Bewkes said TNT and TBS posted double-digit price increases in the market, and according to a transcript. He added that it was the third time in four years that the CPM jumps were higher than the average for the broadcast networks, further closing the gulf between cable and broadcast pricing.

Even with Fox News and MSNBC drawing better ratings, Bewkes added that CNN posted higher CPM and volume increases than both did in the dealing. Still, in the second quarter, ad dollars at the Time Warner news networks were flat.

TNT is having a strong summer with original dramas such as "The Closer" and "Rizzoli & Isles," Bewkes said, yet he expressed frustration with performances of acquired programming. The company has high hopes as CBS' "Big Bang Theory" comes to TBS and "The Mentalist" to TNT.

In the second quarter, the Turner networks saw ad dollars grow 11% on a global basis. Total combined revenues for Turner and HBO globally were up 9% to $3.5 billion, and operating income was up 4% to $1 billion.

At HBO, Bewkes said the HBO Go service that allows customers who pay for the network on TV to access shows on other devices is generating notable consumption. Research shows that 85% of "Go" users are actually watching more HBO on TV.

At Time Inc., Bewkes cited the potential for tablet versions of magazines to be transformative, and the company has distribution agreements with just about all tablet marketers -- going beyond Apple to BlackBerry and Barnes & Noble with its Nook. All 21 domestic magazines should be on tablets by the end of 2011.

In the second quarter, global ad dollars at Time Inc. were up 1%, largely due to digital increases, but also from custom publishing and help from favorable exchange rates. Yet Time Warner said the current July-September period shows ad and subscription dollars at Time Inc. are limp.

Second-quarter operating income was up 10% to $169 million at the publishing group.