Time Warner Inc. (TWX) - NYSE
  • Mon, Jul. 25, 12:14 PM
    • Star Trek Beyond topped the box office, providing a nice score for Paramount (VIA +0.5%, VIAB) in a week where five films shared a weekend take that was up 29% Y/Y.
    • The latest Star Trek film showed a decline from the last entry (Star Trek Into Darkness) but logged $59.6M for a easy first place, outgrossing the $29.3M The Secret Life of Pets (CMCSA, in its third week) and the $21.6M scared up by Ghostbusters (SNE -2%).
    • Two other debuts hit the $20M mark: Horror-thriller Lights Out (TWX +0.3%) drew $21.6M, and Ice Age: Collision Course (FOX -0.4%, FOXA -0.3%) a worse-than-expected $21M.
    • The Secret Life of Pets fell off 42% but brought its cumulative take to over $260M. Meanwhile, Finding Dory (DIS -0.2%) was sixth with $7.2M over the weekend, but brought its six-week take to $460.2M.
    | Mon, Jul. 25, 12:14 PM | 4 Comments
  • Mon, Jul. 11, 11:05 AM
    • Viacom (VIA -2.7%, VIAB -2.2%) is lower today as Wells Fargo downgrades it to Underperform after a fresh look at earnings models in its Media and Telecom sector.
    • Domestic advertising is healthy, Marci Ryvicker and team write, but Viacom's networks aren't joining in the gains. CBS (CBS +0.4%) and Time Warner (TWX +0.5%) are "fine," with estimates left as is, but "when it comes to VIAB, we can't put this lightly -- we significantly cut numbers," saying estimates for domestic affiliate fee growth went to negative $30M from the previous $39M in gains.
    • "We know this is currently trading on corporate governance 'events,' but we don't see how anyone can come in and successfully turn this company around over the next 12 months," Wells says. "It has fallen too far too fast, in our opinion, esp. in cable nets (which have LT contracts)."
    • On average, the analysts expect 5% affiliate fee revenue growth; ESPN (DIS +0.3%) could be mid-single digits ("due to easy comps") and high single digits for everyone else except Viacom, for which it expects a bit decline.
    | Mon, Jul. 11, 11:05 AM | 1 Comment
  • Fri, Jul. 8, 10:33 AM
    • Following a run at streaming some side Wimbledon content this week -- and alongside reports that ad sales for its upcoming NFL streams are going well -- Twitter (TWTR +2.3%) is in talks to ramp up its sports rights.
    • The company is talking to the NBA, Major League Soccer and Turner Broadcasting (TWX +1.9%) regarding live streaming rights for sports and events, Recode reports.
    • Turner comes in because of its existing rights from a number of live-sports sources (including March Madness and Major League Baseball as well as the NBA).
    • The company still faces an uphill battle when it comes to sports profitability: The lack of subscription fees that make buying expensive sports rights workable.
    • Twitter's deal with the NFL involves a $10M payment for the right to stream 10 Thursday night games this fall.
    | Fri, Jul. 8, 10:33 AM | 9 Comments
  • Thu, Jun. 30, 1:56 PM
    • Upfront negotiations are going well at Turner Broadcasting (TWX +1.8%), which is reporting higher ad sales with better volume and prices.
    • Volume is up in the low- to mid-single digits, a source tells Jon Lafayette, and CPM prices are also in low double digits.
    • Across the market, volume is up 2-5% and more deals overall are getting done using seven days of DVR playback rather than three, reflecting the ongoing shift in TV viewership patterns.
    | Thu, Jun. 30, 1:56 PM | 1 Comment
  • Tue, Jun. 28, 10:32 AM
    • Sunday's sixth season finale was a new ratings peak for Game of Thrones, the flagship series for HBO (TWX +1.6%).
    • The finale drew 8.9M viewers during the telecast, beating last summer's finale by about 800K.
    • Adding in overall views (DVR, encore showings, on-demand and streaming), the numbers have risen to 23.3M gross weekly viewers, also up from a year ago, by about 15%.
    • HBO isn't concerned with demographics but the show continues strength there (a best-ever 4.4 rating in 18-49, behind only The Walking Dead on cable).
    | Tue, Jun. 28, 10:32 AM | 11 Comments
  • Thu, May 26, 9:27 AM
    • Netflix (NASDAQ:NFLX) is up 3.7% premarket, and Time Warner (NYSE:TWX) up 0.9%, after the two were linked as takeover targets in a story about Apple's (NASDAQ:AAPL) content ambitions.
    • The Financial Times reports that Apple exec Eddy Cue raised the idea of buying Time Warner at a meeting with the company's head of corporate strategy at the end of last year.
    • Those ideas didn't get to Apple chief Tim Cook or Time Warner CEO Jeff Bewkes, sources told the FT, but the story does suggest Apple may not be content just talking about licensing others' content for a future TV service.
    • Meanwhile, several bankers suggest to the FT that Netflix is a more likely target for Apple, since an Apple service could then still support a wider range of content makers.
    • Several media companies would be bad targets for Apple because of dual-share structures that favor founders or family ownership (like Comcast, Fox, CBS, and Viacom). Notable exceptions to that concern are Time Warner and Walt Disney (NYSE:DIS).
    | Thu, May 26, 9:27 AM | 50 Comments
  • Fri, May 20, 6:18 PM
    • Michael Lombardo is stepping down from his role as president of programming at HBO (TWX +1.7%), following a stellar 33-year run that transformed the network's stature, and will head to producing.
    • He wasn't pushed, Variety says, despite recent programming pressures.
    • Lombardo was in charge of assembling an award-winning slate of programs at HBO and Cinemax as well as HBO Films, HBO sports and HBO Documentaries and Family. He also led the marketing, legal and business affairs departments.
    • It's not clear how HBO will reorganize, but a new leader will have a challenge ahead with the expected end to Game of Thrones in sight, and some recent misfires.
    • Now read Time Warner Is Your Stock To Own For The Next Decade »
    | Fri, May 20, 6:18 PM
  • Wed, May 4, 9:29 AM
    • Time Warner (NYSE:TWX) is up 3.3% premarket following Q1 results that kept drawing on strength at HBO and saw a 7%-plus revenue gain at Turner Broadcasting as well.
    • Turner benefited from the airing of the annual NCAA Men's Basketball Tournament, and the company secured broadcast rights through 2032.
    • Foreign exchange had an unfavorable impact of $115M on revenues, but EPS rose 25%.
    • Revenues by segment: Turner, $2.91B (up 7.2%); Home Box Office, $1.51B (up 7.8%); Warner Bros., $3.11B (down 2.8%).
    • Adjusted operating income rose 9.8% at Turner, to $1.24B, and increased 6.1% at HBO, to $486M. Warner Bros. operating income, meanwhile, jumped 29% to $426M.
    • Cash from continuing operations hit $757M; free cash flow came to $714M.
    • Press Release
    | Wed, May 4, 9:29 AM | 1 Comment
  • Tue, Apr. 19, 7:53 PM
    • With college basketball putting away the equipment after its tournament, Fox News (FOX -0.1%, FOXA -0.3%) reclaimed the top spot in prime-time cable ratings from TBS (TWX -0.5%), drawing 1.8M viewers on average.
    • TBS and HGTV (SNI -0.5%) tied for second place with 1.5M viewers, while Turner's TNT tied with ESPN (DIS +1.1%) for fourth, with 1.4M.
    • On the all-day basis, Nickelodeon (VIA -7.1%, VIAB -8.3%) was in a familiar spot at the top, with 1.1M viewers, ahead of Fox News, Adult Swim, Disney Channel and HGTV (though Viacom investors' eyes are on tense negotiations with Dish Network). And ESPN took the adults 18-49 demographic with 734K viewers.
    • Zombies are still killin' it for AMC Network (AMCX -0.6%), as Fear the Walking Dead was cable's top show for the week, with 5.5M viewers topping CNN's Democratic Debate with 5.4M and TNT's Memphis/San Antonio NBA playoff game, with 3.9M.
    • Now read Viacom: Opportunity Hidden In A Soap Opera »
    | Tue, Apr. 19, 7:53 PM | 23 Comments
  • Mon, Apr. 18, 2:43 PM
    • Disney (NYSE:DIS) stock is still riding high today, +3%, after a triumph at the weekend box office with a reimagining of The Jungle Book.
    • The film crested $103M to easy surpass another debut, Barbershop: The Next Cut (TWX +1.1%), which took the No. 2 spot with $20.2M.
    • The Jungle Book (which opened slightly ahead overseas) added $189.9M in a foreign take to make an impressive worldwide total of $293.5M.
    • Earlier, Pivotal Research upgraded Disney to Buy and gave a 17% boost to its price target for the stock.
    • The success of Warner's Batman v Superman: Dawn of Justice is still front-loaded, as that film fell off another 61% in its fourth week to $9M and the No. 4 spot. It's earned $311.3M domestically and $829.3M worldwide, however.
    • As for Universal (CMCSA +1%), a heavily watched studio after its dominant 2015, The Boss slid 57% in its second week to finish third with $10.2M. It's a big drop for a Melissa McCarthy film, but for a film that's been plagued by poor reviews.
    • Now read Debugging The Disney Misconceptions »
    | Mon, Apr. 18, 2:43 PM | 40 Comments
  • Mon, Mar. 28, 5:09 PM
    • It was a tale of two fortunes at the box office over a U.S. holiday weekend, with Warner Bros. reaping the benefits of a long-awaited superhero launch.
    • Time Warner (NYSE:TWX) rose 3.6% today as a critically panned Batman v Superman: Dawn of Justice still rolled to a $166.1M domestic gross and more than $424M globally. That's almost Warner's biggest domestic opening -- final numbers put it just behind Harry Potter and the Deathly Hallows Part 2 -- and the biggest domestic opening weekend ever in March (passing The Hunger Games' $152.5M).
    • The film's having no trouble selling tickets despite negative reviews: Aggregator Rotten Tomatoes still has the film about 29% positive reaction, and it's drawn an (audience-based) CinemaScore of a flat B -- with a B-minus coming form the males that are making up 62% of the film's clientele.
    • Meanwhile, Hunger Games studio Lions Gate Entertainment (LGF +1.6%) rose today despite a serious drop-off in receipts for its The Divergent Series: Allegiant, which drew just $9.5M in its second week ($46.6M cumulative). The film's proving a letdown, and there's still another sequel in that series, Ascendant, yet to come in summer 2017.
    • Behind the dueling heroes, Zootopia (DIS +0.9%) took second with $23.1M, bringing its domestic total to $240.5M, and a counterprogrammed My Big Fat Greek Wedding 2 (CMCSA +0.1%) logged $18.1M for the No. 3 spot.
    • Previously: IMAX scores big from Batman vs. Superman opening (Mar. 28 2016)
    • Previously: 'Batman v Superman' nails box office record (Mar. 28 2016)
    | Mon, Mar. 28, 5:09 PM | 4 Comments
  • Fri, Mar. 11, 3:47 PM
    • The TV ratings jolt provided by GOP debates may be fading -- that, or maybe The Big Bang Theory is just that powerful.
    • Last night's Republican presidential debate on CNN (TWX +2.4%) drew just 11.9M viewers, down from last week's rowdier debate that drew 16.9M.
    • That was enough to fall short of the consistent CBS (CBS +2.4%) sitcom, which pulled 14.5M viewers.
    • With a larger field of candidates, GOP primary debates have been attracting bigger audiences than the Democratic debates (to networks including CNN, CNBC and Fox News) since the August kickoff scored 24M viewers for Fox News.
    • Previously: Debate leads prime-time ratings; CBS still dominating top 10 (Mar. 08 2016)
    | Fri, Mar. 11, 3:47 PM | 5 Comments
  • Thu, Mar. 3, 3:10 PM
    • "A choppy two years" has left media and entertainment stocks in a good position to get some investor support back, says Credit Suisse, choosing Time Warner (TWX +2.6%) and CBS (CBS +2.6%) as top picks.
    • Time Warner isn't likely to continue missing results, writes the firm's Omar Sheikh. It's got strong guidance ahead with "visibility on double-digit affiliate fee growth at Turner; an affiliate renewal cycle about to start at HBO; and a richer slate at Warner Bros. from this year."
    • CBS, meanwhile, is still considered in a "structural sweet spot" with content prices going up and zero exposure to basic cable. He's leaving 2016 EPS estimates unchanged while reducing that for 2017 to $4.62 from $4.91.
    • CS has both stocks rated Outperform; Sheikh's price target for Time Warner is at $90 (implying 31% upside from current price of $68.49), while he cut his price target on CBS from $75 to $70 (implying 36% upside from current $51.46).
    | Thu, Mar. 3, 3:10 PM
  • Tue, Feb. 23, 5:41 PM
    • Top gainers, as of 5.25 p.m.: ETSY +16.3%. MT +10.0%. DWA +8.3%. CRR +8.2%. TWX +5.8%.
    • Top losers, as of 5.25p.m.: DY -16.8%. CAR -12.0%. NYMT -7.5%. SLCA -6.6%. HTZ -4.9%.
    | Tue, Feb. 23, 5:41 PM | 5 Comments
  • Thu, Feb. 18, 7:34 PM
    • Battered media stocks came in for some (valuation-based) love from Deutsche Bank, which adjusted its price targets on a number of names today, with some of them at multi-year lows to create a "selective buying opportunity."
    • It saved its only price-target hike for one of its top picks, Time Warner (TWX -0.1%). Analyst Bryan Kraft raised his target on the stock to $93, from $88; that implies 44% upside from today's close of $64.62.
    • His other top picks in the sector include Twenty-First Century Fox (FOX -0.2%, FOXA -0.3%), Buy-rated but with a price target cut to $37 from $40 (implied 40% upside for FOXA); CBS (CBS -1.7%) and Starz (STRZA -3.1%).
    • Also coming in for target cuts also were Walt Disney (DIS -0.3%), lowered to $113 from $114, implying 18.7% upside, and Viacom (VIA -0.4%, VIAB -0.4%), cut to $38 from $56, implying 6% upside on B shares.
    • It's been a rough winter for most of the stocks. Returns over the past three months: TWX -10%, FOXA -12.9%, CBS -10.8%, STRZA -37.5%, DIS -19.4%, VIAB -32.8%.
    | Thu, Feb. 18, 7:34 PM | 15 Comments
  • Wed, Feb. 17, 7:30 PM
    • Only a competing Republican debate could have messed this up for CBS -- so luckily, it was the network who broadcast this week's.
    • The network swept the top 10 shows in the ratings, with the exception of The Walking Dead on AMC, which finished third with 13.7M viewers. But the other nine of the top 10 programs were all on the Tiffany Network.
    • CBS (CBS +3.7%) says that's the first time in a decade that one of the major broadcasters has pulled that off.
    • Saturday's GOP debate was the No. 4 program, with 13.44M viewers. Topping the list were NCIS, with 16.94M, and The Big Bang Theory, with 16.25M. A pair of NCIS spinoffs, along with Scorpion, Blue Bloods, Madam Secretary and 60 Minutes filled out the rest of the list.
    • TNT (TWX +2.2%) topped cable networks, averaging 2.37M prime-time viewers, ahead of Fox News' (FOX +3.3%, FOXA +3.4%) 2.33M and AMC's (AMCX +3.2%) 1.96M. In news, NBC Nightly News (CMCSA +0.4%) led with 9.4M viewers.
    • In the season so far, CBS is unsurprisingly tops in prime-time viewers overall with an average 11.74M.
    • Previously: 'Walking Dead' midseason premiere ratings down, but still big (Feb. 17 2016)
    | Wed, Feb. 17, 7:30 PM | 2 Comments
Company Description
Time Warner, Inc. is a media and entertainment company. It operates through three segments: Turner, Home Box office and Warner Bros. The Turner segment consisting principally of cable networks and digital media properties. The Home Box Office segment principally consisting of premium pay... More
Sector: Services
Industry: Entertainment - Diversified
Country: United States