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Time Warner posts a loss of $16.03 billion dollars

 
2/4/2009 
 
 
Time Warner posts a loss of $16.03 billion dollars
 
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Time Warner Inc. reported a fourth-quarter loss, hurt by a $24.2 billion writedown for its cable, publishing and AOL assets.

The New York-based media and entertainment company posted a loss of $16.03 billion, or $4.47 per share, compared with profit of $1.03 billion, or 28 cents per share, a year ago.

Quarterly results were dragged down $4.70 per share mostly due to the $24.2 billion writedown.
 
   
 
Article Source: MSNBC  
   
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