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Tuesday, May 7
Heard during Time Warner's (TWX +1%) presentation at the Jefferies Global Technology, Media and...
Heard during Time Warner's (TWX +1%) presentation at the Jefferies Global Technology, Media and Telecom Conference: 1) CEO Jeff Bewkes says a combination of Time Inc. and Meredith Group (MDP) would have been too complicated to yield profits. 2) Time Inc. might explore strategic partnerships post-spinoff. 3) CNN and HBO are both core properties, although Bewkes concedes one is up and one is down in terms of ratings. Working to create new CNN content that keeps the seriousness intact but also brings in more viewers. 4) On big +$100M budget films, the exec notes franchise properties are generally more predictable and profitable. Building franchises like TWX did with Harry Potter and its eight films is critical. (webcast)