Time Warner

Time Warner Inc., the parent company of Burbank-based Warner Bros., announced Wednesday it earned $627 million in 2009, up from a loss of $16 billion the year prior, as the company planned increased film investment that could generate more jobs in the region. Revenues for Warner Bros. declined by 3% in 2009, to $11 billion, but its operating income grew 21%, to $1.5 billion, which the company credited to lower print and advertising costs and reduced overhead. The Burbank media giant, which specialized in film and television, set a worldwide box office revenue record in 2009, pulling in more than $4 billion with the popularity of ?

Time Warner Inc., the parent company of Burbank-based Warner Bros., reported record quarterly profits this week for the start of 2010, fueled in part by strong DVD sales. Operating income for the New York-based owner of CNN, HBO, Time Magazine and other media properties jumped 37%, compared with the first quarter of 2009, to $1.4 billion, the company reported. ?We posted our best revenue growth in almost two years and the most profitable quarter in our history,? Jeff Bewkes, Time Warner?

New Line production studio loses 450 jobs Time Warner, which owns Warner Bros. in Burbank, is planning to cut 450 jobs from its New Line movie production studio, according to reports. The staff reductions will leave New Line, which is based in West Hollywood, with 40 to 50 employees. Some of those employees may be offered jobs within Warner Bros., according to news reports. New Line will maintain its own independent development and production teams, and Time Warner will take over distributions of completed films, reports said.

Erin Park MEDIA DISTRICT WEST - As an eighth-grader, she sold lemonade and cookies to raise money for guide dogs for the blind. In college, she volunteered at soup kitchens and juvenile hall. And now, Musette Buckley, vice president of production services for Warner Bros., devotes her free time to helping homeless mothers and their children. In June, Buckley's dedication to her volunteer work earned her recognition by Time Warner, Warner Bros.

Paul Clinton MEDIA DISTRICT WEST -- As the dust settles from the Time Warner Inc. and America Online mega-merger, studio officials at Warner Bros. said it was too early to pinpoint how Burbank operations would be affected. "Tell me when you find out," joked Barbara Brogliatti, the studio's director of corporate communications. Warner Chairman and CEO Barry Meyer said it's likely little or nothing would change at the company's Burbank studios. Meyer also said the merger will give Warner Bros.

Warner Bros. announces merger Burbank-based Warner Bros. announced Thursday they are merging with New Line Cinema, both Time Warner Inc. divisions. New Line, which has distributed an array of films such as the newly released ?Be Kind Rewind,? starring Jack Black and ?American History X,? about a reformed neo-Nazi, will still maintain separate film production operations, but will closely integrate and coordinate those duties with Warner Bros. in an effort to maximize efficiency and cut costs, Time Warner said.

???Warner Bros. announces Burbank studio layoffs as parent company posts $10.5-billion third quarter revenues.MEDIA DISTRICT WEST -- Despite high profits from its hit films and DVD sales, Warner Bros. Studios laid off 250 employees at its Burbank studio this week, foreshadowing what observers anticipate as sagging sales in the home entertainment market. Warner Bros., a division of Time Warner Inc, the largest media company in the world, let go full-time employees in various departments and no seasonal production-related jobs were included, said Senior Vice President of Studio and Production Affairs Lisa Rawlins.

Time Warner Inc., the parent company of Burbank-based Warner Bros., announced Wednesday it earned $627 million in 2009, up from a loss of $16 billion the year prior, as the company planned increased film investment that could generate more jobs in the region. Revenues for Warner Bros. declined by 3% in 2009, to $11 billion, but its operating income grew 21%, to $1.5 billion, which the company credited to lower print and advertising costs and reduced overhead. The Burbank media giant, which specialized in film and television, set a worldwide box office revenue record in 2009, pulling in more than $4 billion with the popularity of “Harry Potter and the Half-Blood Prince,” “Sherlock Holmes,” “The Blind Side” and “The Hangover.

Paul Clinton MEDIA DISTRICT WEST -- Jon Gilbert has taken over studio operations at Warner Bros., the company announced. Gilbert, who previously served as an executive vice president of Warner Bros., will oversee all day-to-day management of the studio's production, post-production and other operations. "I'm very enthused," Gilbert said Thursday. "I'm gratified the studio had the confidence to choose me." Gilbert replaces Gary Credle, who was promoted to executive vice president of administration and studio operations.

Warner Bros. Entertainment and CBS Corp. announced Tuesday they were forming a new television network that will replace the The WB and UPN networks. The CW will launch in the fall of 2006 and program 30 hours a week for seven days for its affiliated stations. The full distribution of the new network is expected to exceed 95% of the country. Dawn Ostroff, currently president of UPN, will become president of entertainment; and John Maatta, currently chief operating officer of The WB, will become chief operating officer of the CW. Warner Bros.

Profit dropped 10% for the corporate parent of Burbank-based Warner Bros. in the first quarter of 2011 even as revenue climbed and the studio expanded its ability to deliver movies online and prepares for the release of several major films. On Wednesday, the studio's parent company Time-Warner Inc. reported a profit of $653 million on revenue of $6.7 billion in the first quarter, compared with $725 million in profit on $6.3 billion in revenue in the same period last year. Executives said Tuesday that the 10% drop in profit was due to a quiet quarter at the movies, as well as programming and promotional costs related to the month-long broadcast of the NCAA basketball tournament primarily on two Time-Warner networks, TBS and TNT. March Madness still managed to spur a 31% gain in network advertising revenue and higher network ratings.

The Walt Disney Co. and the parent of Warner Bros. have each given more than $1 million toward the effort to defeat an initiative on the Nov. 2 ballot that would restore an estimated $1.3 billion in business taxes to the state rolls, records show. Proposition 24 would repeal changes to the California Legislature made in 2008 and 2009 to the state's tax code and eventually would restore $1.3 billion to the state's General Fund, according to the state legislative analyst's office.

Time Warner Inc., the parent company of Burbank-based Warner Bros., reported record quarterly profits this week for the start of 2010, fueled in part by strong DVD sales. Operating income for the New York-based owner of CNN, HBO, Time Magazine and other media properties jumped 37%, compared with the first quarter of 2009, to $1.4 billion, the company reported. ?We posted our best revenue growth in almost two years and the most profitable quarter in our history,? Jeff Bewkes, Time Warner?

Time Warner Inc., the parent company of Burbank-based Warner Bros., announced Wednesday it earned $627 million in 2009, up from a loss of $16 billion the year prior, as the company planned increased film investment that could generate more jobs in the region. Revenues for Warner Bros. declined by 3% in 2009, to $11 billion, but its operating income grew 21%, to $1.5 billion, which the company credited to lower print and advertising costs and reduced overhead. The Burbank media giant, which specialized in film and television, set a worldwide box office revenue record in 2009, pulling in more than $4 billion with the popularity of ?

Time Warner Inc., the parent company of Burbank-based Warner Bros., announced Wednesday it earned $627 million in 2009, up from a loss of $16 billion the year prior, as the company planned increased film investment that could generate more jobs in the region. Revenues for Warner Bros. declined by 3% in 2009, to $11 billion, but its operating income grew 21%, to $1.5 billion, which the company credited to lower print and advertising costs and reduced overhead. The Burbank media giant, which specialized in film and television, set a worldwide box office revenue record in 2009, pulling in more than $4 billion with the popularity of “Harry Potter and the Half-Blood Prince,” “Sherlock Holmes,” “The Blind Side” and “The Hangover.

Burbank-based Walt Disney Co. announced late Thursday that its third-quarter earnings were down 26% from a year ago, in the latest news of declining profits for local entertainment industry giants. AOL Time Warner, the parent company of Burbank-based Warner Bros., reported third-quarter revenue drops Wednesday of 9% for its filmed entertainment division. The companies suffered from multimillion-dollar losses from falling DVD sales, box office figures and advertising revenues.

New Line production studio loses 450 jobs Time Warner, which owns Warner Bros. in Burbank, is planning to cut 450 jobs from its New Line movie production studio, according to reports. The staff reductions will leave New Line, which is based in West Hollywood, with 40 to 50 employees. Some of those employees may be offered jobs within Warner Bros., according to news reports. New Line will maintain its own independent development and production teams, and Time Warner will take over distributions of completed films, reports said.

Warner Bros. announces merger Burbank-based Warner Bros. announced Thursday they are merging with New Line Cinema, both Time Warner Inc. divisions. New Line, which has distributed an array of films such as the newly released ?Be Kind Rewind,? starring Jack Black and ?American History X,? about a reformed neo-Nazi, will still maintain separate film production operations, but will closely integrate and coordinate those duties with Warner Bros. in an effort to maximize efficiency and cut costs, Time Warner said.