time warner inc (TWX) Key Developments
Time Warner Inc. Names Priya Dogra as Senior Vice President, Mergers and Acquisitions
Aug 19 15
Time Warner Inc. announced that Priya Dogra has been named Senior Vice President, Mergers and Acquisitions. In this role, Ms. Dogra will oversee Time Warner’s global mergers and acquisitions efforts to progress the Company’s long-term corporate strategies and help define capital allocation priorities. Ms. Dogra joined Time Warner in 2009 as a Director in the Mergers and Acquisitions group, and became the group’s Vice President three years later. In this role, she worked closely with Time Warner’s divisions and
served as the primary corporate liaison for divisional corporate development functions including the acquisition of content assets and television networks internationally as well as investments in digital media and over the top assets across the Company. Prior to joining Time Warner, Ms. Dogra was a Vice President in the Technology, Media and Telecom investment banking group at Citigroup where she spent seven years based out of the New York, London and Toronto offices covering numerous clients such as Time Warner, Sony, Discovery and Bertelsmann, and advising on a broad range of transactions including acquisitions, divestitures and financings.
Time Warner Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 5 15
Time Warner Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues of $7,348 million against $6,788 million a year ago. Operating income was $1,859 million against $1,567 million a year ago. Income from continuing operations before income taxes was $1,448 million against $1,277 million a year ago. Income from continuing operations was $971 million or $1.16 per diluted share against $843 million or $0.94 per diluted share a year ago. Net income was $971 million or $1.16 per diluted share against $850 million or $0.95 per diluted share a year ago. Adjusted income from continuing operations was $1,045 million compared to $876 million a year ago. Adjusted EPS were $1.25 compared to $0.98 a year ago. Adjusted operating income grew 15% to $1.9 billion due to increases at Turner and Warner Bros., partially offset by a decline at Home Box Office. Cash provided by operations from continuing operations was $791 million against $324 million a year ago. Capital expenditures were $97 million against $114 million a year ago.
For the six months, the company reported revenues of $14,475 million against $13,591 million a year ago. Operating income was $3,645 million against $3,615 million a year ago. Income from continuing operations before income taxes was $2,823 million against $3,049 million a year ago. Income from continuing operations was $1,904 million or $2.26 per diluted share against $2,208 million or $2.45 per diluted share a year ago. Net income attributable to the company’s shareholders was $1,941 million or $2.31 per diluted share against $2,142 million or $2.37 per diluted share a year ago. Cash provided by operations from continuing operations was $1,800 million compared to $2,057,000 a year ago. Capital expenditures were $154 million compared to $206 million a year ago. Adjusted income from continuing operations was $2,055 million compared to $1,761 million a year ago. Adjusted EPS were $2.44 compared to $1.95 a year ago. Net debt was $20.7 billion, up from $19.9 billion at the end of 2014, due to share repurchases, dividends and investments and acquisitions, partially offset by the generation of free cash flow.
Time Warner Inc. Reaffirms Unaudited Earnings Guidance for the Full Year 2015
Aug 5 15
Time Warner Inc. reaffirmed unaudited earnings guidance for the full year 2015. The company continues to expect its 2015 full-year adjusted diluted income per common share from continuing operations to be in the range of $4.60 to $4.70.
Time Warner Inc. Declares Quarterly Cash Dividend, Payable on September 15, 2015
Aug 5 15
Time Warner Inc. announced that its Board of Directors declared a regular quarterly cash dividend of $0.35 per share of Common Stock, payable in cash on September 15, 2015 to shareholders of record on August 31, 2015.
Time Warner Inc. Intends to Redeem $312,908,000 of 5.875% Notes Due 2016
Jul 31 15
Time Warner Inc. announced that it intends to redeem $312,908,000 of its 5.875% Notes due 2016, representing all remaining Notes outstanding after the expiration on June 3, 2015 of the previously announced tender offer for the Notes. The redemption will be made in accordance with the terms of the indenture governing the Notes and the terms of the notice of redemption. Time Warner expects the Notes to be redeemed on August 31, 2015 at a redemption price equal to the greater of 100% of their principal amount and the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the Redemption Date), discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the treasury rate plus 30 basis points, plus, in either case, accrued and unpaid interest to, but not including, the Redemption Date. The treasury rate will be determined in accordance with the terms of the Notes prior to the Redemption Date.