• by David Goetzl  @dgoetzl, November 3, 2010

Turner networks TNT and TBS posted ad sales increases that helped drive a slight gain in revenues at parent Time Warner in the third quarter. Full company revenues were up 2% -- less than the previous two quarters, to $6.4 billion -- although the company said it expected the July-September quarter to be its most challenging this year.

The Turner networks delivered a 10% jump in ad sales versus the same quarter a year ago. Those figures are for global operations, where international was strong.

Time Warner does not break out domestic performance, or specific revenue figures, for Turner at large. It did say all domestic entertainment networks, which include Cartoon Network, posted ad sales jumps in the "high single digits" in the quarter.

Its "networks" division, which includes Turner and HBO, had a 9% increase to $3 billion. Operating income was up 23%.

On an earnings call Wednesday, Time Warner CEO Jeff Bewkes addressed the potential phenomena of "cord-cutting." He said: "We doubt that we're going" to experience much of it. TV viewing numbers are strong, and "programming quality" is impressive, he said.

Plus, initiatives to make content available via video-on-demand whenever, wherever should serve as a bastion against it. "That's going to strengthen TV viewing -- it's probably not going to lead to any cord-cutting," he said. If viewers want content on other devices, the content industry will adapt.

Two other company divisions had a lesser performance than TV, with filmed entertainment revenues flat and publishing down 1%, although ad sales for publishing were up 5%. At the Time Inc. print operation, more print pages were sold in the U.S., but at lower average pricing.

Operating income fell 31% at filmed entertainment, and rose 45% at Time Inc.

Turner, which is taking an increasingly important role in the company, could experience greater growth if CNN finds its legs. Bewkes said the news network has had "ratings challenges ... that we're addressing."

Bewkes expressed optimism that Conan O'Brien's new show on TBS, which is debuting next week, should -- along with the NBA on TNT -- help with scatter ad sales in the October-December period.

At Warner Bros., TV production has had a strong start during the new season, thanks to CBS comedy "Mike & Molly."

Bewkes also said that Time Warner next year will begin offering movies on a premium VOD service, where consumers can watch "recently released" films at home in HD or 3D. It is also nearing agreements with distributors on the windows when films will be released.