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Time Warner to offer buyouts to employees

  • Time Warner’s (NYSE:TWX) Turner cable division (home of CNN, TNT, TBS and the Cartoon Network) will offer buyouts to more than 500 employees aimed at reducing the operating costs of the unit.
  • The move follows the rejection of a $71B takeover bid from Rupert Murdoch and suggests how Time Warner can better achieve growth and shareholder returns as an independent company.
  • Turner accounts for more than half of Time Warner’s operating income.
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