Time Warner Inc, the world's largest media company, reported a second-quarter profit of 1.07 billion dollars Wednesday, a 5.2-per-cent rise from the year-ago quarter, according to dpa. Sales rose 6 per cent to 11 billion dollars, fuelled by a 59-per cent-rise in cable TV sales resulting from the acquisition of new customers in the Los Angeles and Dallas, Texas markets. But the performance of other divisions, including the Warner Bros movie studios and the HBO cable network declined. Online advertising also failed to make up for subscriber losses at internet provider AOL. AOL sales fell 38 per cent to 1.3 billion dollars after the division's internet access service lost 1.1 million subscribers in the quarter. AOL's online ad sales gained 16 percent. The publishing division, which includes titles such as Fortune and Sports Illustrated saw profit rise 13 per cent to 256 million dollars. The unit, the world's largest magazine publisher, has cut about 900 jobs in one and a half years to increase earnings as ad sales growth slows.
