The Dark Knight came to the rescue of Time Warner, helping it toboost third-quarter revenue. The film has grossed $527 million worldwide.DVD sales were OK, largely as a result of the popularity of the Sex andthe City DVD release , but the company noted that profits paled incomparison with its sales at the same time last year for Harry Potter andthe Order of the Phoenix. Time Warner also reported solidresults from its cable networks CNN, TNT, TBS and its pay-TV outlet HBO. Ina statement, CEO Jeffrey Bewkes said that the company has the "ability toweather difficult economic conditions and the flexibility to invest in thelong-term competitive position of our business in a period when others mayhave to retrench." However, revenue from its AOL unit continued a persistentdescent, falling another 17 percent during the quarter. Shares ofTime-Warner were down 5 percent to $9.64 in late-afternoon trading.

06/11/2008