Time Warner Inc., the world’s biggest media-entertainment...

Time Warner Inc., the world’s biggest media-entertainment company, reported a smaller loss for the second quarter and an increase in earnings before interest and other non-operating expenses.

The company’s publishing operations showed the strongest growth, due to advertising gains and special issues of People, Sports Illustrated and Life.

Earnings also grew at Time Warner’s music, film and HBO divisions, but cable systems were down due to new cable rate rules, the company said.

Time Warner’s loss applicable to common shares was $23 million, or 6 cents a share, in the three months ended June 30. A year ago, the comparable loss was $83 million, or 22 cents a share. Early retirement of debt reduced 1993 second-quarter earnings by $35 million, the company said.

Revenue rose 9% to $3.73 billion, from $3.43 billion a year ago.

Earnings before interest, taxes, depreciation and amortization were $748 million in the latest quarter, compared to $711 million in the year-earlier period.