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CEO Dick Parsons said the company was pleased with the results, particularly achieving its debt-reduction goals ahead of time 6 billion in cash it expects to get from that deal, the company will reach its goal of reducing its overall debt to about $20 billion almost one year ahead of schedule Subscribers declined by a net 399,000, below the 688,000 it lost in the previous three-month period 25 billion a year earlier, led by gains in its movie unit and cable TV business 17 in morning trading on the New York Stock Exchange " Parsons has been working to slim the company down, reduce debt and regain the trust of Wall Street following the disastrous decline in its stock price after the merger with AOL, which was announced at the height of the Internet bubble in early 2000 04 per share timewarner 7 billion, or $22 , the former head of Seagram Co 3 million subscribers in the United States, down 2 31 billion The company, whose vast holdings include the Time Inc 9 billion from $10 "2004 is really about driving this company forward AOL is struggling to hold on to members who use dial-up services in the face of competition from low-priced highspeed Internet service providers 43 billion in the same quarter a year ago 14 billion a year ago due to the write-off Revenues rose 6 percent, more than some analysts had been expecting, to $10 4 percent, at $18 81 billion from $8 All segments posted stronger results except AOL and Networks, which includes CNN, HBO and TNT After receiving the $2 The year-ago loss was equivalent to $10 57 billion from $37 magazine family, HBO, CNN and AOL, said it expects earnings in each of its segments to grow faster in 2004 than last year, except for New Line Cinema, which had a blockbuster year in 2003 with the latest "Lord of the Rings" movie I'm pleased to say that we're past that," Parsons told analysts on a conference call 64 billion or 57 cents a share, compared with a loss of $98 Adjusted operating earnings, which exclude one-time gains and losses as well as depreciation and amortization, rose 7 percent to $8 Annual revenues rose 6 percent to $39 The company's stock was off 64 cents, or 3 Operating earnings in the division swung back to a profit of $301 million compared with a loss of $33 2 million for the year com 9 billion loss in the same period a year ago because of write-downs at its AOL unit, the company reported Wednesday 15 a share, in 2002, which also included large write-offs to reflect declines in value since the AOL-Time Warner merger AOL continued to lose subscribers in the quarter, but at a slower rate "One year ago I said 2003 would be a reset year Time Warner excluded results from its music division, Warner Music Group, which it has agreed to sell to an investor group led by Edgar Bronfman Jr 39 billion from $2 Time Warner earned $638 million, or 14 cents a share, in the three months ending in December AOL remained a weak spot, as revenues declined 7 percent in the quarter Excluding the effects of write-downs and other one-time gains and losses, the company's operating income edged lower to $2 As of the end of 2003, AOL had 24 â€â€?â€â€?â€â€? On the Net: http://www 24 billion For the full year, net earnings were $2 Time Warner Returns to Quarterly Profit Jan 28, 11:19 AM EST Time Warner Inc , the world's largest media company, swung back to a profit in the fourth quarter of 2003 after reporting a $44 8 billion at the end of 2002 Excluding one-time items, adjusted earnings per share were 15 cents, even with the estimate of analysts surveyed by Thomson First Call Time Warner's debt stood at $25 CBS believed it had ordered a love story about Ronald and Nancy Reagan with politics as a backdrop, but instead got a film that crossed the line into advocacy, said a network executive who spoke on the condition of anonymity " Ironically, CBS' decision came two days after the network's 75th anniversary special, which included a skit by the Smothers Brothers poking fun at CBS for firing them more than 30 years ago because of their political content D " But conservatives said it was a question of accuracy Although disappointed that CBS won't air it, "we are excited that Showtime has agreed to broadcast it and the public will have a chance to judge `The Reagans' on its own merits The film had been scheduled to air Nov "In doing so, they clearly caved in to the political pressure "I said to Nancy, they don't like dad, but they hate you," Reagan said Tuesday on ABC's "Good Morning America " It's not likely CBS faced much pressure from advertisers, said Brad Adgate, analyst for Horizon Media, an ad-buying firm "We believe it does not present a balanced portrayal of the Reagans for CBS and its audience," the network said in a statement Tuesday The chairman of the Republican National Committee wrote to CBS President Leslie Moonves, asking for historians to review the movie, and the conservative Media Research Center asked advertisers to consider boycotting the film There was also a concern about its depiction of Nancy Reagan " CBS said its decision to cancel the movie was "based solely on our reaction to seeing the final film, not the controversy that erupted around a draft of the script "They made a business decision," he said CBS attempted to edit the film to remove offending passages, but gave up 16 and 18, in the heart of the November ratings sweeps Reagan Miniseries to Air on Showtime Nov 4, 6:21 PM EST Capping an extraordinary conservative furor over a movie virtually no one has seen, CBS scrapped plans Tuesday to televise "The Reagans" and decided to shunt it off to the Showtime cable network instead What's next?" â€â€?â€â€?â€â€? Associated Press writers Alan Fram and Lynn Elber contributed to this report Republican National Committee Chairman Ed Gillespie said putting the movie before a smaller audience on Showtime doesn't address accuracy concerns Actor Mel Gibson has been skirmishing with Jewish groups over his Biblical epic, "The Passion of Christ The former president's son, radio talk show host Michael Reagan, said he had seen eight minutes of movie highlights and Nancy Reagan was depicted as basically running the White House Another precedent came in 1979, when CBS pulled a comedy series about a black congressman after complaints by some actual black politicians who had seen a screening, said TV historian Tim Brooks It's a growing trend in entertainment: concerned groups not even waiting until something is released to make it a battleground , said CBS' decision "smells of intimidation to me Failure to enact such changes could cost Viacom millions of dollars, said Jeff Chester, head of the Center for Digital Democracy, a communications lobbying group " Senate Minority Leader Tom Daschle, D-S Showtime and CBS are both owned by Viacom, which is anxiously awaiting federal action on rules to restrict ownership of local TV stations " The CBS decision "gives new hope to all of the people who don't like what they see on entertainment television," said Robert Thompson, head of the Center for the Study of Popular Television at Syracuse University He is married to the outspoken liberal Barbra Streisand, which drew complaints from some conservatives Some advertisers might have been scared by the controversy, but many would have been attracted by the prospect of big ratings, he said Supporters of the former president, who suffers from Alzheimer's Disease, said there's no evidence he said that James Brolin portrayed Reagan While CBS said it was not bowing to political pressure, critics said that was exactly the case, and worried about the effects of such pre-emptive strikes on future work "CBS, in pulling this film, did incredible harm, much more harm than they could ever have done in making the film," Gabler said Based on snippets of the script that had leaked out in recent weeks, conservatives, including the son of the former president, accused CBS of distorting the legacy of Ronald Reagan After some changes were made to the screenplay, the Hitler miniseries aired in May to middling ratings The miniseries became a hot topic on talk radio and the TV news networks Neal Gabler, author of "Life the Movie: How Entertainment Conquered Reality," said CBS' decision was unhealthy for democracy CBS faced pre-broadcast pressure earlier this year from Jewish groups concerned about its miniseries about Adolf Hitler Viacom needs help from Republicans in the White House and Congress who might not like seeing Reagan portrayed negatively, Chester said "All of the special interest groups can say, `look, we got the Reagan docudrama off the air In a portion of the script published in The New York Times last month, Reagan was depicted as uncaring and judgmental toward people with AIDS " Producers Zadan and Meron noted that CBS had approved their script "What they've told us now is that a very small group of people have censorship power over the broadcast networks "They that live in sin shall die in sin," Reagan's character tells his wife as she begs him to help AIDS victims "This was a left-wing smear of one of the nation's most beloved presidents and CBS got caught," said Brent Bozell, founder of the Media Research Center Without changes, Showtime should remind viewers every 10 minutes that the movie is fictional, he said The movie was made by producers Neil Meron and Craig Zadan, who also made "Martin and Lewis" for CBS |
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