Home Business NewsBusiness Time Warner in sales boost after success of film Suicide Squad

Time Warner in sales boost after success of film Suicide Squad

by LLB Reporter
3rd Nov 16 10:36 am

Revenues rise by nine per cent

The film Suicide Squad and higher fees from TV providers helped Time Warner boost its quarterly profits.

Time Warner is currently in the middle of being taken over by US telecoms provider AT&T. The media giant owns Warner Brothers film studios, the cable TV channels HBO, the Cartoon Network and CNN.

Revenues managed to rise by nine per cent to $7.2bn (£5.8bn) in the three months to September. A net income coming to $1.47bn.

A hearing on the merger will be held this month by a US Senate subcommittee.

AT&T already owns mobile phone, broadband and cable TV networks, this brings some concern as it might mean less choice for consumers and prices could go up.

Time Warner chief executive and chairman Jeff Bewkes said after the third quarter results that the merger was “a great outcome” for shareholders and would drive “long-term value well into the future” for the firm.

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