Time Warner Inc., owner of cable networks TNT and HBO, posted first-quarter sales that missed estimates as advertising dropped in part because of a later schedule for college basketball’s biggest event.
Jeff Zucker, the former NBC Universal chief who was named to lead Time Warner Inc.’s CNN yesterday, said the network needs to broaden its news coverage and keep viewers longer to compete with Fox News and MSNBC.
Comcast Corp. Chief Operating Officer Stephen Burke will succeed Jeff Zucker as chief executive officer of NBC Universal, taking over the effort to revive the television company once Comcast has control.
Time Warner Inc., owner of the HBO cable network and the Warner Bros. film studio, rose the most in three months after affiliate fees from cable-TV providers boosted profit and the company announced a new share buyback program.
Time Warner Inc.’s CNN said it hired ABC News Washington reporter Jake Tapper to anchor a weekday show, following through on the news network’s President Jeff Zucker’s pledge to create new programming.