Time Warner's Q3 earnings call is underway, with CEO Jeff Bewkes pushing the mega-media company's resiliency as the theme of the day. You could probably write the script: times are tough, we're well positioned, we're focusing on our great brands, "ability to make compelling content on a consistent basis." No announcement of an AOL (NYSE: TWX) sale for anyone who still thinks that's imminent.
In his prepared comments, Bewkes compared the Time Inc restructuring announced last week to the first quarter "hard look" at New Line, calling it "the most comprehensive overhaul in Time Inc history." It will "streamline management" and speed up decision making." And aligning like titles will allow Time Inc to ensure that resources are being concentrated on the biggest brands. More to come.
By Staci D. Kramer