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    Time Warner CEO signals delays for DC Comic shows on Netflix, Hulu

    By SHOOTUpdated:No Comments2319 Views
    In this June 18, 2014, file photo, Jeffrey Bewkes, Chairman and CEO of Time Warner, attends the Cannes Lions 2014, 61st International Advertising Festival in Cannes, southern France. (AP Photo/Lionel Cironneau, File)

    By Ryan Nakashima, Business Writer

    LOS ANGELES (AP) --

    Fans of superhero shows based in the DC Comics universe like "The Flash," ''Arrow" and "Gotham" might have to wait a lot longer for past seasons' episodes to come to Netflix and Hulu.

    Jeff Bewkes, the chief executive of DC-owner Time Warner Inc., told analysts on a conference call Wednesday that the company is considering whether to let online services like Netflix have its shows several years after they first air, rather than one year later. He said that could mean more older episodes are available on-demand to traditional cable customers.

    Withdrawing shows from online services would make traditional cable and satellite TV packages more attractive. Time Warner is focused on "delivering even more value to consumers, especially those who subscribe to the traditional bundle," Bewkes said.

    There are eight DC-based shows on TV right now, including newcomer "Supergirl," which launched on CBS last week. You can currently access many of the previous seasons of established DC Comics shows, up until the last season, on Netflix and Hulu.

    Analyst Anthony DiClemente of Nomura Securities said Time Warner is reacting to the growth of Netflix as a power in the TV industry.

    "Some of the media executives are looking at Netflix as a digital distributor who has gained too much power," he said. "They are thinking, look, maybe we should keep our most valuable content inside the traditional pay TV ecosystem, which is the golden goose."

    DiClemente speculated that satellite and cable TV providers like DirecTV and Comcast could soon be able to offer back episodes for the entire current season to customers in on-demand libraries, rather than just the most recent five episodes.

    Time Warner also spooked investors wary that growing numbers of people are skipping a traditional cable subscription. It said U.S. subscribers of its Turner networks such as CNN, TNT and TBS fell a worse-than-expected 1 percent this year, and it expects a similar decline next year.

    The comments came after Time Warner Inc. reported third-quarter earnings early Wednesday that disappointed investors.

    While revenue grew 5 percent to $6.6 billion, topping the $6.5 billion expected by analysts polled by FactSet, and adjusted earnings of $1.25 beat predictions of $1.09 per share, its earnings outlook of $5.25 per share for fiscal 2016 fell short of expectations for $5.60.

    The company blamed foreign exchange headwinds and greater investment in programming for the forecast shortfall.

    Time Warner shares fell $5.10, or 6.6 percent, to close at $72.20 Wednesday. Its shares have fallen more than 15 percent this year.

    Tags:Time Warner



    Ex-OpenAI engineer who raised legal concerns about the technology he helped build has died

    Saturday, December 21, 2024
    Suchir Balaji poses for a photo in Hawaii in 2018. Balaji was a former OpenAI engineer and whistleblower who died in November 2024. (Balaji Ramamurthy via AP)

    Suchir Balaji, a former OpenAI engineer and whistleblower who helped train the artificial intelligence systems behind ChatGPT and later said he believed those practices violated copyright law, has died, according to his parents and San Francisco officials. He was 26.

    Balaji worked at OpenAI for nearly four years before quitting in August. He was well-regarded by colleagues at the San Francisco company, where a co-founder this week called him one of OpenAI's strongest contributors who was essential to developing some of its products.

    "We are devastated to learn of this incredibly sad news and our hearts go out to Suchir's loved ones during this difficult time," said a statement from OpenAI.

    Balaji was found dead in his San Francisco apartment on Nov. 26 in what police said "appeared to be a suicide. No evidence of foul play was found during the initial investigation." The city's chief medical examiner's office confirmed the manner of death to be suicide.

    His parents Poornima Ramarao and Balaji Ramamurthy said they are still seeking answers, describing their son as a "happy, smart and brave young man" who loved to hike and recently returned from a trip with friends.

    Balaji grew up in the San Francisco Bay Area and first arrived at the fledgling AI research lab for a 2018 summer internship while studying computer science at the University of California, Berkeley. He returned a few years later to work at OpenAI, where one of his first projects, called WebGPT, helped pave the way for ChatGPT.

    "Suchir's contributions to this project were essential, and it wouldn't have succeeded without him," said OpenAI co-founder John Schulman in a social media post memorializing Balaji. Schulman, who recruited Balaji to his team, said what... Read More

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