Time Warner cable networks post best quarter ever

Time Warner's networks unit, which includes TNT, TBS and HBO, reported its best quarter ever, tallying $1.22 billion in operating income, 12% higher than the same period last year. The cable division helped make up for a weak performance by Time Warner's magazine and movie units, with the parent company tallying a 1.9% rise in net profit. Time Warner CEO Jeffrey L. Bewkes said the networks division was the "highlight" of the period, adding that the cable channels' performance "illustrates that our investments in content and technology are paying off."

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