Recap of Time Warner's (TWX) earnings and conf call

Below are some highlights and conference call quotes from Time Warner's quarterly conference call.

On Time Warner Inc.

• Announced strategic agreement between Time Warner Cable and America Online to develop a customized broadband offering
• Time Warner won 11 Golden Globe awards and 42 Oscar nominations, including 11 nominations for The Aviator

On Filmed Entertainment

• Warner Bros. Pictures led the industry with $2.2 billion overseas box receitps and $3.4 billion in worldwide box office

On Cable

• Launched Digital Phone, a residential IP telephony service, to all 31 divisions across the country.
• Increased the maximum download speed of Road Runner to 5 MBS from 3 MBS
• Launched Video Mail, which combines Web cam use and email

"Basic video customers declined 14,000….. however, if you look at our advanced services…we added 124,000 digital customers….. we ended the year with 44 percent penetration of basic subs….DVR net adds were 153,000 in the quarter…they ended the year with about 860,000 subscribers…that's an 18 percent penetration to the digital sub base….high-def net adds were just under 100,000…and SVOD net additions of 171,000 were more than double that of the third quarter."

On Networks

• According to Nielsen Media Research, TNT was the top ad-supported TV network in the 18-49 and 25-54 year old age group

"The attractiveness of our TV business has only been enhanced by new formats like DVD…it distributed product to 90 international territories directly, which is considerably more than any other studio….at Warner's, DVD revenues related, or coming from TV shows, will be around a billion dollars this year…so we're the U.S. leader in TV sales on DVD. We have 10 of the top 25 franchises, and I'm very proud that our top 10 DVD television releases come from all of our companies."

On AOL

• Launched AOL 9.0 Security Edition and AOL Search

"AOL's overall brand subscriber base declined 464,000 in the fourth quarter versus the third quarter. Billed memberships of that amount declined 377,000, and non-billed members fell 87,000."

On Publishing

• Announced acquisition of Essence Communications Partners (publisher of Essence and Suede magazines)

(Quotes from the CCBN StreetEvents transcript.)