MUMBAI: Warner Bros Entertainment and Universal Parks and Resorts have announced a partnership to bring the themed park The Wizarding World of Harry Potter which debuted in Orlando in June 2010 to Universal Studios Hollywood.

The two companies also announced their plans to significantly expand The Wizarding World of Harry Potter at Universal Orlando Resort.

The Hollywood version of the theme park will be as impressive as the one created in Orlando and is expected to transform tourism in Los Angeles for decades to come. It will be a fully immersive environment for the entire family that brings the stories of Harry Potter to life and is faithful to the visual landscape of the films, including a majestic Hogwarts castle to serve as the centerpiece of the themed environment.

Warner Bros chairman, CEO Barry Meyer said, "Everyone involved with these projects is committed to continuing the enchantment of JK Rowling?s masterful books as they were brought to life on screen in our eight films and dedicated to extending the magic of the experience for generations of fans to come."

Universal Parks and Resorts chairman, CEO Tom Williams said, "The Wizarding World of Harry Potter is an entirely new level of themed entertainment that brings the stories of Harry Potter to life in incredible ways. We are thrilled to take what has been created in Orlando to even greater levels."

Universal Studios president, COO Ron Meyer said, "The Harry Potter stories are some of the most powerful of our time and we are honored to expand our Orlando experience and bring The Wizarding World of Harry Potter to Hollywood, forever changing family tourism in Los Angeles."

Rowling who wrote the Harry Potter novels said, "I am delighted that The Wizarding World of Harry Potter has been so popular with fans since the opening in Orlando last year and I am sure that the teams at Universal and Warner Bros. will bring their expertise and attention to detail to Hollywood to make this new experience equally as exciting."

MUMBAI: US media conglomerate Time Warner?s revenue for the third quarter ended 30 September has jumped 11 per cent to $7.1 billion, the highest growth rate since the third quarter of 2007.

Adjusted operating income saw a 18 per cent increase, driven by a record quarter at Warner Bros.

Time Warner chairman and CEO Jeff Bewkes said, "This was another terrific quarter for us, financially and strategically, putting us on pace to exceed our prior financial goals for the year. Our results demonstrate the success of Time Warner?s focus on investing in great content that audiences love and leading the evolution of how it?s delivered. Warner Bros. had a record-setting quarter, led by ?Harry Potter and the Deathly Hallows: Part 2?, which grossed $1.3 billion at the box office globally, ranking as the third highest grossing film ever and capping an unprecedented franchise run. Warner Bros. also has had an excellent start in the new TV season with returning series such as ?The Big Bang Theory?, ?Mike and Molly? and ?Two and a Half Men?, and new shows including ?2 Broke Girls?, ?Suburgatory? and ?Person of Interest?."

Time Warner had accelerated the pace of stock repurchases, and has repurchased $3.7 billion of its stock so far this year.

In the quarter, adjusted operating income and operating income each grew by 18 per cent to $1.6 billion, due to increases at the Filmed Entertainment segment. Adjusted operating income and operating income margins were both 23 per cent versus 21 per cent in the 2010 quarter.

As of 30 September, the company?s net debt stood at $15.3 billion, up from $12.9 billion at the end of 2010. This was mainly due to share repurchases and dividends as well as investment and acquisition spending, offset by the generation of free cash flow.

Networks (Turner Broadcasting and HBO): Revenues for this division rose by seven per cent ($204 million) to $3.2 billion, benefitting from growth of six per cent ($112 million) in subscription revenues and nine per cent ($74 million) in ad revenues. The increase in subscription revenues resulted mainly from higher domestic rates, international subscriber growth and the favorable effect of foreign exchange rates. Advertising revenues benefitted from growth at Turner?s international networks and strong pricing at domestic networks.

Adjusted Operating Income decreased by four per cent ($45 million) to $1.1 billion, as higher revenues were more than offset by increased expenses, including higher programming and marketing costs. Programming costs grew by 11 per cent primarily due to higher expenses for originals and sports programming and international growth.

Higher sports programming costs were largely due to the timing of sports events. Adjusted operating income in the prior year quarter benefited from a $58 million reserve reversal in connection with the resolution of litigation relating to the 2004 sale of the Atlanta Hawks and Thrashers sports franchises.

Film: Revenues increased by 19 per cent ($521 million) to $3.3 billion, led by the strong theatrical performance of ?Harry Potter and the Deathly Hallows: Part 2? and higher television license fees from the off-network availability of ?The Big Bang Theory?. This growth was partly offset by lower home video revenues, due to difficult comparisons to the prior year quarter?s release of ?Clash of the Titans? and fewer television availabilities for theatrical product.

Adjusted Operating Income rose by 153 per cent ($319 million) to $528 million, due mainly to higher revenues, lower film valuation adjustments and lower pre-release advertising expenses, offset partially by higher overhead costs related in part to acquisitions. Operating Income increased by 162 per cent ($324 million) to $524 million.

MUMBAI: UTV Action, the dubbed Hollywood action movie channel from the UTV Group, has entered into a multi-year movie syndication deal with Warner Brothers International Television Distribution that adds a significant number of movie premieres to both UTV Action and UTV Action Telugu?s library.

The two-year deal involves a minimum of 60 movies for UTV Action and 50 titles for UTV Action Telugu.

"We have signed a long term deal with WB, which has a minimum commitment of 60 movies for UTV Action and 50 movies for UTV Action Telugu. It is a two-year deal with option of renewal. It gives us exclusive Hindi and Telugu language rights of the movies of WB," UTV Action and UTV Action Telugu programming head Manasi Sapre told Indiantelevision.com.

Sapre added that the deal with WB is very important and significant for the channel as WB is known for some of the best action movies.

The list of movies include The Lord of the Rings (triology), The Dark Knight, Shoot Them Up, Most Wanted, Cradle to The Grave, Harry Potter and the Goblet of Fire, Blue Sea, Golden Compass, Get Smart Jason X among others.

Sapre claims that the channel is making sizeable investments for the movie acquisitions while keeping in mind the RoI (return on investments). "We have our inventory fully sold. The RoI is very good; that?s why many Hollywood studios are looking at India as a lucrative market for dubbed movies," Sapre said.

The deal includes first airing after being shown on HBO and WB. "UTV Action has broad based the market and we reach out to a wider set of audience. The channel?s active movie library has around 350 titles for airing per year, while total titles are 450-500," Sapre said.

UTV Action was launched in January 2010. Last year, the channel had entered into a three-year movie deal with Sony Pictures Television (SPT) for the exclusive Hindi language telecast rights of 70 action films of SPT.

UTV Action Telugu, which was launched in June 2011, has a library of around 250 titles.