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Television Industry
Time Warner Cable misses estimates as programming costs rise

Time Warner Cable Inc., which is awaiting regulatory approval to merge with Comcast Corp., missed analysts' profit estimates as TV programming costs rose and the company offered more promotions to lure subscribers. Fourth-quarter net income rose to $554 million, or $1.95 a share, from $540 million, or $1.89, a year earlier. Excluding some items, earnings rose to $2.03 a share, falling short of the $2.09 average of analysts' estimates compiled by Bloomberg. Sales increased 3.8% to $5.79 billion, the New York company said Thursday. Analysts projected revenue of $5.81 billion. As the total number of Americans paying for TV declines, Time Warner Cable has focused on offering cheaper...

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