What financial reports reveal about TV networks

AP News
Posted: Aug 01, 2012 10:41 AM
What financial reports reveal about TV networks

Companies with television networks have begun releasing their earnings reports for the latest quarter. It generally covers the April-June period, though some companies have fiscal quarters that depart from that.

Here's a look at reports for selected television network companies:

— Tuesday: Discovery Communications Inc., owner of pay TV channels including Discovery, TLC and Animal Planet, says second-quarter net income rose 15 percent on rising ad sales, subscription fees and subscribers. Audiences increased and costs declined at the company's joint venture, the Oprah Winfrey Network. The company says the struggling channel remains on track to be profitable in the second half of next year.

— Wednesday: Time Warner Inc. says revenue at its television networks grew 4 percent to $3.6 billion, in part from higher rates paid by cable and satellite TV companies to carry CNN, TBS and other channels. Time Warner also saw growth in HBO subscribers and benefited from higher ad rates and an increase in the number of NBA games shown on its channels. But ad revenue fell at its domestic news networks.

Comcast Corp. says profits fell at the cable networks, which include Bravo, MSNBC and CNBC, as expenses to produce and acquire programs grew. The company says NBC is doing better than expected with the London Olympics and no longer believes it will take a big loss.

Coming up:

— Thursday: CBS Corp., Scripps Networks Interactive Inc.

— Friday: Viacom Inc.

— Aug. 7: The Walt Disney Co. (ABC owner)

— Aug. 8: News Corp. (Fox owner)

— Aug. 9: AMC Networks Inc.