Turner Revs Up 5% In 2013, Cable News Nets Dip

Turner Broadcasting eked out a 1% gain in advertising revenues in the fourth quarter of 2013 and 5% for the entire year -- this as part of Time Warner’s overall earning report.

Turner’s domestic cable news networks witnessed declines in the last three months of 2013 due to unfavorable comparisons to the fourth quarter of 2012, as a result of the U.S. presidential election. But advertising revenues grew at Turner’s domestic entertainment networks, due to increased pricing and demand.

Total revenues at Turner were up 3%, or $73 million, to $2.55 billion -- a 6% climb, or $69 million in subscription fees and 1% more, or $6 million, in overall advertising revenues. For the year as a whole, revenues were up 5% to $9.98 billion, with subscription fees 5% higher, or $236 million. Advertising revenues were up 5%, or $219 million. Turner’s operating income sank 10% ($95 million) to $853 million.  
                                
HBO revenues grew 6% in the fourth quarter to $1.3 billion and 4% for the full year to $4.9 billion. Operating income slipped 4% ($17 million) to $413 million. There were higher programming expenses as well as consolidation expenses in its Asia and Nordic operations.

Warner Bros. witnessed revenues up 7% during the period to $4.0 billion from strong theatrical films and video games. Big theatrical titles included “Gravity” and “The Hobbit: The Desolation of Smaug.” Strong-selling video titles included “Batman: Arkham Origins.” Operating income improved 8%, or $96 million, to $1.3 billion.

Magazine group Time Inc., poised for a spinoff from Time Warner, saw its revenues virtually flat during the fourth quarter at $966 million. There was a decrease of 6% ($19 million) in subscription revenues and a small 2% gain ($13 million) in advertising revenues. Other revenues added $5 million -- a 6% hike versus the same period a year before.
Overall fourth-quarter profits at Time Warner were down 12% to $983 million, with revenues up 4.9% to $8.57 billion.
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