Time Warner is the parent company of HBO (and CNN, and Warner Bros., and TNT, and Adult Swim, and on and on). Variety recently reported on the company’s earnings for the second quarter of 2017, and they are very good: adjusted operating income rose by 13% to $2.3 billion, beating analyst projections.
And because Game of Thrones had a deliriously successful year, ratings-wise, it contributed to the company’s rally. Revenues at HBO rose by 13% to $1.6 billion, while operating income (which is basically revenues minus expenses) rose 7% to $565 million. Elsewhere in the company, horrifying clown movie It helped shore up Warner Bros’ profits, Rick and Morty pushed Adult Swim to new heights, and people’s growing appetite for political news following the 2016 presidential election has grown ratings for CNN.
All this good news ahead of a proposed deal whereby Time Warner will sell itself to AT&T for $86 billion, because why be two enormous media conglomerates when you can be one nigh-hegemonic juggernaut? AT&T wants to use Time Warner’s extensive library of programming to help drive sales of its phones and devices. Although we can’t know what will happen until the deal goes through, odds are access to a prestige show like Game of Thrones will remain unfettered.
At the moment, the companies are looking to close the deal by the end of this year. These earnings can only sweeten it.
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