A curious detail. I wonder if this is true?
"Enormous" has a very elastic meaning. Compared to some of the other losers owned by TWX, (Time magazine, etc) I'm sure it makes money. I'll see what I can dig up.
Time Warner also saw flat revenue results at its cable networks and publishing operations.
At the cable networks, including TBS Superstation, TNT, CNN and HBO, revenue was $2.4 billion, as a 12% drop in advertising revenues was somewhat offset by higher subscription and content revenues.