MUMBAI: US media conglomerate Time Warner?s revenue for the full-fiscal ended December has increased eight per cent to $29 billion, its highest growth rate since 2003.

Adjusted operating income rose by nine per cent to a record $5.9 billion. Adjusted EPS grew 20 per cent to $2.89.

Time Warner chairman, CEO Jeff Bewkes said, ?While investing aggressively to drive our long-term growth, we also returned $5.6 billion to our shareholders through dividends and share repurchases. For 2012, we will execute against the same strategic priorities that have driven our success in recent years: We?re investing aggressively in programming, production and marketing. We?re further accelerating our Content Everywhere initiatives. We?re expanding our presence internationally in attractive territories. And we?re maintaining our strict focus on operating and capital efficiency."

Time Warner announced an increase in dividend and a new $4 billion stock repurchase authorisation.

Revenue increase for the year reflected growth at the Networks and film segments. Adjusted operating Income rose by nine per cent to $5.9 billion, due to strong results at all of the company?s segments. Operating income increased by seven per cent to $5.8 billion. Adjusted operating income and operating income margins were each 20 per cent in 2011, the same as in 2010.

Fourth-quarter revenues increased by five per cent from the year-ago quarter to $8.2 billion, reflecting higher revenues at the film and networks segments. Adjusted operating income rose by 20 per cent to $1.7 billion, driven by strong results across the company?s segments. Adjusted operating Income margins were 21 per cent versus 18 per cent in the 2010 quarter. Operating income increased by 17 per cent to $1.7 billion in the quarter, while operating income margins were 20 per cent compared to 18 per cent in the 2010 quarter.

In the Networks segment (Turner Broadcasting and HBO) revenues for the year grew by nine per cent ($1.2 billion) to $13.7 billion, with increases of six per cent ($495 million) in subscription revenues, 12 per cent ($453 million) in ad revenues and 21 per cent ($202 million) in content revenues.

The increase in subscription revenues resulted mainly from higher domestic rates and international subscriber growth.

The growth in ad revenues was driven by strong pricing domestically, sports programming, including the NCAA Division I Men?s Basketball Championship events, and growth at Turner?s international networks, including acquisitions.
Content revenues benefited from higher sales of HBO original programming and higher licensing revenues at Turner.

Adjusted operating income increased by six per cent ($266 million) to $4.4 billion, reflecting higher revenues partly offset by increased expenses, including higher programming and marketing costs, as well as increased costs related to international growth. Programming costs grew by 12 per cent, due primarily to higher expenses for sports and original programming and international growth.

In the film segment for the year, revenues rose by nine per cent ($1 billion) to $12.6 billion, led by the strong theatrical and home entertainment performance of ?Harry Potter and the Deathly Hallows: Part 2? and the home entertainment performance of ?Harry Potter and the Deathly Hallows: Part 1?.

Revenues also benefited from a stronger videogames release slate, higher television license fees, new subscription video-on-demand agreements and the favourable effect of foreign exchange rates.

Key 2011 videogame releases included Batman: Arkham City, Mortal Kombat 9 and several Lego titles. Television license fees increased due mainly to improved worldwide syndication, which included the off-network availability of ?The Big Bang Theory?. This growth was offset in part by fewer home video releases and difficult theatrical comparisons to the prior year.

Adjusted operating income increased by 16 per cent ($174 million) to $1.3 billion, as a result of higher revenues.

Operating income increased by 14 per cent ($156 million) to $1.3 billion. In 2011, Warner Bros. grossed $4.7 billion at the worldwide box office, led by the top grossing film, ?Harry

Potter and the Deathly Hallows: Part 2?. Warner Bros. also became the first studio to exceed $4 billion in global box office for three consecutive years.

For the 2011-2012 broadcast television season, Warner Bros. has produced more than 30 scripted primetime series, making it the leading supplier of primetime programming to the broadcast networks.

MUMBAI: US media conglomerate Time Warner is believed to be looking at buying television format creator and executive producer Endemol.

Reports indicate that it is bidding $1.4 billion for Endemol which makes and markets formats like ?Big Brother?.

Endemol is looking to re-organise 2.8 billion euros in debt.

However, there is also talk that Endemol might reject offers. Endemol is co-owned by Silvio Berlusconi?s Mediaset, Goldman Sachs? Capital Partners and Endemol founder John De Mol?s investment vehicle Cyrte.

Reports add that Mediaset has joined forces with Clessidra, an Italian private equity group, to buy Endemol.

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: Under strong protests from European regulators, EMI Group PLC and Time Warner Inc. scrapped their $20 billion music joint venture but pledged to try and resurrect the deal later in a more agreeable form.

On Thursday, the two companies withdrew their application to the European Commission for permission to merge their music arms, stating they wanted more time to tackle objections to the tie-up.

European Commission (EC ) competition officials were concerned that the tie-up between EMI and Time Warner?s Warner Music subsidiary would have placed 80 per cent of Europe?s recorded music business in the hands of just four global giants.

The companies proposed selling record labels, music catalogues and distribution networks to meet the commission?s concerns and even considered selling off Virgin Records and Chappell Music, in an effort to meet the concerns.

The EC said that last-minute, informal concessions proposed by the companies were too late to be considered and were not enough to ease their concerns. However, the regulatory body said that it would consider a new, modified proposal if the companies submitted one.

Setting the venture aside sparked renewed hope that America Online?s (AOL: Research, Estimates) $130 billion purchase of Time Warner (TWX: Research, Estimates) now stands a better chance of gaining the approval of the European Commission.

The Federal Trade Commission has said it wants to see AOL and Time Warner agree to share their high-speed cable networks.