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February 7, 2013 by · Leave a Comment 

Time Warner may be the only media conglomerate among the top five — the others are Comcast (NBC), News Corp (Fox), Disney (ABC) and National Amusements (CBS) — without a broadcast network of its own (its Warner Bros. unit is partnered with CBS in the CW network), but its vast system of cable networks propelled it to a 51-percent leap in profits in its fourth quarter compared with the same period a year ago. That upswing occurred despite falling revenue at its Warner Bros. studio and continued losses at its Time Inc. publishing unit. In a conference with analysts and reporters, Time Warner chief Jeffrey Bewkes singled out HBO for particular praise but expressed disappointment with the continued ratings erosion of its news channel, CNN. He said that with the recent appointment of Jeff Zucker to head the channel he was “optimistic that … CNN will once again fulfill the promise of its iconic brand.”