Time Warner reports US$16 billion loss
05-02-2009
US media giant, Time Warner, has reported a 16-billion-dollar loss in the fourth quarter - and a 13 billion dollar loss for all of 2008. The media group said the loss reflected the effects of a fall in value on acquired assets. The fourth quarter sales performance was attributed to a slowdown in cinema activity and publishing as well as at its Internet subsidiary AOL.
