Time Warner Inc.: Weighed down by high...
From Times Staff and Wire Reports
Time Warner Inc.: Weighed down by high interest costs, the New York-based media and entertainment company reported a third-quarter net loss of $91 million, compared to a net loss of $180 million in the year-ago period. But the actual loss was much higher after the company made required dividend payments of $233 million to holders of preferred stock. That pushed the effective loss to $324 million. Revenue rose 32% to $2.9 billion, partly on the box office strength of “Presumed Innocent” and “Gremlins 2.”
