Time Warner today reported a $16 billion loss in the 4th-quarter after writing down the value of intangible assets held by Time Warner Cable, AOL and Time Inc. Earnings for 2009 are seen as "about flat" compared to 2008 results. In the TV biz, including Turner Broadcasting and HBO, operating earnings fell 20% despite 8.7% higher revenue, including 10% from ads (with the firm blaming a $270 million charge on a court judgment). Movie earnings increased 7% despite an 11% drop in revenue.
Time Warner Reports TV -20%, Film +7%
By Nikki Finke | Category: Big Media | Wednesday February 4, 2009 @ 3:57am PST
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Title Studio Gross 1 Alice In Wonderland Disney $62.7 M 2 Green Zone Universal $14.3 M 3 Shes Out Of My Leag Paramount $9.8 M 4 Shutter Island Paramount $8.1 M 5 Remember Me Summit $8.1 M 6 Our Family Wedding Fox $7.6 M 7 Avatar Fox $6.5 M 8 Brooklyns Finest Overture $4.5 M 9 Cop Out Warner $4.3 M 10 The Crazies Overture $3.7 M 11 Percy Jackson Fox $3.1 M 12 Crazy Heart Fox $3.0 M 13 The Blind Side Warner $1.6 M 14 Valentines Day Warner $1.4 M 15 Ghost Writer Summit $1.2 M 16 Dear John Sony $1.0 M 17 Tooth Fairy Fox $0.7 M 18 Alvin And Chipmunks Fox $0.5 M 19 Last Station SPC $0.4 M 20 The Wolfman Universal $0.4M SOURCE: RENTRAKBox Office Poll
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Everyone is losing money these days but by God, the celebs are still sooo filthy rich, perhaps some of the are feeling the recession like us, you think?
Henrietta:
There are definitely some celebs/actors feeling the pinch. When was the last time Orlando Bloom got his quote? Two and a half years ago on “Pirates 3.” Now he’s doing an indie film in a role that James Franco dropped out of. Kirsten Dunst seems like she’s in a similar situation.
I’d say folks like Richard Gere, Meg Ryan, Winona Ryder, Terrence Howard, Jessica Alba — people who need the EXACT right project to get anything close to a hit — are all getting squeezed.
Same probably goes for a lot of directors we haven’t heard from in a while. The climate is, if you’re not genuinely bankable nobody is going to pay your full price.
Does that mean they’ll fix HBO now? Could a channel that was so profitable, creating such great product, tank so quickly at the helm of incompetent execs? Sue Naegle, the shows you are greenlighting sound less exciting than the upcoming season for FX. No taste, no vision.
And the proof is in the $$. Can those dumbasses and get Albrecht back!!
And the only reason Time Warner is up 7 percent in movies is because of DARK KNIGHT.
AS for IO’s “pinch” — Bloom is working. I am not.
Outis – why the FX hate? They are currently a better HBO than HBO with the best comedy and drama on television: ALWAYS SUNNY and DAMAGES.
HBO needs to take a page from the FX playbook, which started as a page from HBO’s.
But Bewkes got a huge bonus, priceless. What a joke.
Killertv, it was actually my poor grammar that made it seem like I was dissing FX–I was trying to point out that FX is far more inventive than the premium HBO. Is there any reason to pay for that shite?