Both Time Warner and News Corp. held their quarterly earnings calls yesterday, and the two signature news channels they own (CNN and Fox News Channel) were received in decidedly different ways.
Time Warner barely mentioned CNN during its call, though some comments from CFO John Martin may help explain why.
When discussing organic ad revenue growth, Martin said:
“domestic entertainment networks [TBS, TNT], together with kids and young adults [Cartoon Network, Adult Swim], grew advertising strong double digits in the quarter, and that was offset by mid-single-digit declines at domestic news [CNN].”
In other words, advertising is growing at a strong pace for Turner’s entertainment portfolio, but declining slightly at CNN.
Compare that to News Corp., which heaped praise upon Fox News during its call.