Time Warner's Q4 Earnings Likely Boosted By Subscription Growth At Turner And HBO

The ratings at Turner networks remained softer in 2014 with TBS down 14% while TNT was down 12% in 18-49 demographic. Softer ratings can put some pressure on the advertising income for the company. However, subscription revenues at Turner networks have been on an uptrend in the recent past and we expect it to continue to grow, as the network will pass on some of the programming cost increases to the distributors. HBO has seen solid growth in the recent past but here also higher programming costs...