As CNN employees learned of more layoffs and show cancellations, Time Warner CEO Jeff Bewkes was addressing investors in another part of the Time Warner Center, promising huge growth in the company’s earnings.
Plans for growing revenue include added spending for original programming, reports The New York Times:
Another concern is Turner, the home to CNN, TBS and TNT. The group of cable networks has faced ratings declines, and Turner has said it would expand its original programming in response. The company said that it would double its investment in original programming to $1 billion by 2018 from about $500 million. “We need to do more with more impact,” John Martin, the chief executive of Turner, said.