• CNNMoney.com, Thursday, June 15, 2006 11 AM

Time Warner needs Clark Kent to make a "super" return, reports CNNMoney, as analysts and investors have criticized the media giant for continued sales and profit declines at its AOL Internet unit, sluggish growth in magazine publishing, and ratings challenges at the company's CNN cable network. But "nobody can dispute the company's magic at the box office... until now.' The company is off to an abysmal start in 2006, with its two big studios accounting for less than 11 percent of the total domestic box office--down from 20 percent for all of last year. Two big movies--"V for Vendetta" and "Poseidon"--did not live up to expectations, and there is no Harry Potter to the rescue later this year. That adds up to a lot of pressure on The Man of Steel to generate big-ticket sales in theaters when "Superman Returns" is released on June 28. "Time Warner is hoping 'Superman' will turn things around for them. That's the big event picture of the summer," says Joe Bonner, a media analyst with Argus Research.

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