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DVD Helps Time Warner Q3 Profit

2 Nov, 2005 By: Erik Gruenwedel

The Million Dollar Baby DVD helped boost Time Warner's Q3 revenue.

Sales of Million Dollar Baby, Constantine and New Line's Monster-in-Law helped Time Warner Inc. post third-quarter (ended Sept. 30) film entertainment revenues of $2.7 billion, up 6 percent ($147 million) from the same period last year.

The media giant's total revenues for the quarter increased 6 percent to $10.5 billion.

Due in part to pressure from maverick investor and shareholder Carl Icahn, Time Warner's board of directors said it would initiate a $12.5 billion stock repurchase program, up from $5 billion announced last quarter.

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