☰

Cultura

Time Warner to stick with original road map for growth: CEO


    (Reuters) - Time Warner Inc Chief Executive Jeff Bewkes stood in front of analysts and investors on Wednesday to seek to convince them that the company is better off alone after rejecting a bid from Rupert Murdoch's Twenty-First Century Fox.

    In doing so, he forecast adjusted earnings per share of $6 by 2016 and $8 by 2018.

    Shares of Time Warner, which include movie studio Warner Bros, cable network Turner Broadcasting, and pay TV channel HBO, were up 2 percent at $72.05 in morning trading.

    Bewkes is under pressure to boost Time Warner's share price after the company rebuffed an $85 per share bid from Fox.

    The two combined companies would have resulted in one of the world's largest media conglomerates, with two major movie studios, a portfolio of broadcast and cable networks, and rights to lucrative sports programming.

    Bewkes said the company is sticking to its guns and will not deviate from its original road map.

    "The fundamental plan is to invest in great content, leverage technology, expand internationally and efficiently deploy capital."

    (Reporting by Jennifer Saba in New York; editing by Matthew Lewis)