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Time Warner down
January 8, 2009, Thursday
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Print Edition
Print Edition
TIME Warner Inc said it will report a loss for last year after recording a non-cash impairment charge of about US$25 billion before taxes in the fourth quarter.
The impairment stems from a reassessment of cable, publishing and AOL assets, the world's biggest media company said yesterday in a statement distributed by Business Wire. The New York-based company now anticipates a loss for last year after previously forecasting a profit from continuing operations of as much as US$1.07 a share.
The impairment stems from a reassessment of cable, publishing and AOL assets, the world's biggest media company said yesterday in a statement distributed by Business Wire. The New York-based company now anticipates a loss for last year after previously forecasting a profit from continuing operations of as much as US$1.07 a share.
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