Jeff Bewkes, the Chairman and Chief Executive Officer of Time Warner Inc. (TWX - Analyst Report), announced the name of John K. Martin, currently Chief Financial and Administrative Officer, to spearhead Turner Broadcasting System (TBS). Mr. Martin will take over the reins from Phil Kent and commence his journey as the Chief Executive Officer of TBS starting Jan 1, 2014. Meanwhile, Mr. Kent will continue to serve as the Chairman during the transition period.
John K. Martin has been the Chief Financial and Administrative Officer since 2008. Prior to this, he had held the position of the Executive Vice President and Chief Financial Officer of Time Warner Cable Inc. (TWC - Analyst Report).
Based in New York, Time Warner is a media and entertainment company. The company’s businesses include interactive services, cable systems, filmed entertainment and television networks. Time Warner’s significant international presence has helped broaden its client base and product portfolio.
We believe that Time Warner’s initiatives such as its foray into new markets, divestment activities and digital endeavors would augur well for its operating performance in the future. Moreover, the company’s investments in programming, production and marketing along with its focus on operating and capital efficiencies appear to be encouraging. Time Warner has been expanding its digital presence to allow consumers to enjoy content on a wide range of platforms and devices. We are optimistic about management’s expectations to achieve low double-digit EPS growth in 2013.
Time Warner has been benefiting from its significant international presence as it helped the company broaden its client base and product portfolio. The company operates in the United Kingdom, Germany, Canada, France, Japan and other countries besides the United States.
Recently, it entered into a partnership with China’s leading media and entertainment investment fund, China Media Capital. In our view, this partnership complements the company’s strategy to expand its presence in the Chinese entertainment market. Moreover, Time Warner with its strong content and industry-leading portfolio of renowned brands is likely to benefit from the largest and fastest growing Chinese media sector. In recent years, China has emerged as an important market for media and entertainment companies.
Currently, Time Warner holds a Zacks Rank #2 (Buy). Other stocks worth considering in the media industry include ValueVision Media Inc. (VVTV - Snapshot Report) and Nexstar Broadcasting Group, Inc. (NXST - Snapshot Report) both of which carry a Zacks Rank #1 (Strong Buy).