Home Wealth  Money Media News: Time Warner Earnings, Sinclair Acquisition

Media News: Time Warner Earnings, Sinclair Acquisition

Posted: Nov. 3rd, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

Harry Potter worked his magic on Time Warner earnings in the third quarter.

The media conglomerate said earnings jumped to $822 million, or $0.78 per share, from $522 million, or $0.46 per share, helped by an increase in revenue from its movie unit, thanks to the final Harry Potter film.

Adjusted earnings of $0.79 per share beat analyst expectations, as did an 11% increase in revenue, to $7.1 billion.

Also today, television station operator Sinclair Broadcast Group (nasdaq: SBGI - news - people ) said it has agreed to buy the broadcast assets of Freedom Communications for $385 million.

Freedom owns eight stations in seven markets.

Sinclair said the transaction will result in it owning two full power stations in West Palm Beach, Florida, and will also allow the company to expand its middle market position and network diversification.

The transaction is expected to close late in the first quarter or early in the second quarter of 2012.

Market News Video produces and distributes online videos about stocks and investing.

Share on Facebook Share
See Next Article
Need to Get Away?
Top 10 Business Hotels
Who says you canít mix business with pleasure?
Read More
More Articles from Forbes.com

Quick Links
Real Estate
Luxury Travel
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
Current News & Features
Drive Like an A-Lister in the New Mercedes-Benz S-Class
Sustainable Hawaii Regional Cuisine at Merriman's Restaurant on Maui
Vermont History Lives at the Wilburton Inn
Domaine Sainte Marie's Vie Vite: France's Top Provence Rose
Making Waves on the Coast of Maine in the Maserati Quattroporte
Paso Robles CAB Collective Wineries Producing World Class Bordeaux
Swiss Deluxe: The best Luxury & Spa Hotels in Switzerland
Paul Roustan Shows why Body Painting is Indeed Fine Art
Five-Star Dining at the Inn at Leola Village in Pennsylvania's Amish Country
The Most Incredible Gingerbread Houses Found Around the World
See the complete list
Featured Photo Gallery
See the complete list