Turner records charge on Indian channel, gain on HBO CE

Turner Broadcasting has recorded a US$52 million (€37 million) charge relating to its exit from an Indian channels venture. Meanwhile, fellow Time Warner-owned channel operator HBO recorded a US$59 million gain resulting from it taking full control of the HBO Central Europe operation.

Combined third quarter revenue across Turner Broadcasting and HBO was up 9%, taking the total to US$3 billion. Within that, subscription revenue increased 10%, ad revenues 10% and program sales 2%, boosted by sales of original HBO series including True Blood and The Pacific.

Time Warner reported overall quarterly revenues of US$6.37 billion compared with US$6.26 billion in the same period last year. Profit was US$1.4 billion compared to US$1.3 billion last year.