In terms of economics, "digital is good," Time Warner Chief Executive Jeff Bewkes said at an investor presentation. Total Turner adjusted operating income hit $2.3 billion in 2009, with compound
annual growth of 12% for 2000-2009. In addition, Turner CEO Phil Kent touted CNN's "unsurpassed" average monthly reach of 66.9 million, compared with Fox News' 57.7 million and MSNBC's 50.6 million,
according to Nielsen Media Research. TW's pure content focus is helping on the financial front as "content is going up" in the digital age, Bewkes said, notes
The Hollywood Reporter.
Bewkes ruled out a sale of the company's magazine publishing
unit, Time Inc., in 2010, as the recovering economy promises to provide clues about the future of the business in a digital media world. Ann Moore, chief executive of Time Inc., said the business is
showing signs of recovery and suggested the majority of the downturn that plagued the unit last year was cyclical--not permanent, reports Smart Money.
Time Inc. revealed it would develop iPad apps for seven more of its brands this year, including a series of
paid apps from lifestyle magazine Real Simple, reports Mediaweek.
Time's app is sold at the same per-issue price as its print edition. Moore calls the iPad a "game changer" for the industry.
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