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Time Warner Revenues Down

Time Warner Inc. saw a drop in revenues from its filmed entertainment divisions due to decreases in the home video and worldwide theatrical markets, the company said Wednesday in announcing its financial results for the quarter ending March 31. For the first three months of its fiscal year, Time Warner had revenues of $2.8 million from Warner Bros. Entertainment and New Line Cinemas compared with $3 billion in the same reporting period from 2005. Worldwide theatrical releases revenues were lower than the previous years and home video revenues reflected lower sales of television product, the company said. But Warner Home Video did lead in home video sales for the quarter, capturing 22 percent of the market. Time Warner, which has cable, publishing and internet divisions, had total revenues of $10.5 billion for the quarter, an increase from the $10.4 billion in overall revenues for the first quarter of 2005.

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