Wednesday, February 4, 2009

The largest media world has lost 16 billion dollars per quarter.

The world's largest media Time Warner reported a net loss in the fourth quarter of 2008, amounting to 16 billion dollars, reports Bloomberg. Such a significant loss for the first 14 quarters, there were due to write-off of assets amounting to 25 billion dollars.
Excluding charges and other one-loss, the net profit of the company amounted to about 850 million dollars, while during the same period the previous year it had reached 1.03 billion dollars.
The Company's revenues also fell to 12.3 billion dollars - half a billion dollars in less than analysts had expected. The reason was the decline in advertising revenues AOL unit and the group logs Time.
In 2008, the value of Time Warner shares fell by 39 percent, which almost completely coincided with declining U.S. market as a whole. Index S & P 500 by the end of the year has lost 38 per cent.
Time Warner - the largest conglomerate in the field of media and entertainment industry in the world. In the current company was created in 2001 following the merger of Time Warner and AOL. Holding is engaged in the production of film and video, telecommunications, and production of media, including magazines Time, Sports Illustrated and Fortune. The market capitalization of the company at 35 billion dollars.

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