Due to the grand hit of Sherlock Holmes and The Hangover, Time Warner has witnessed fourth quarter profits. This has marked the return to profit for the company in its first results since the split from AOL last year. These days, they are focusing on movies and TV. Net income for the newly slimmed-down company was $627m (£387m). That compares with a $16bn loss in the last three months of 2008 thanks to write-downs on the value of its AOL and cable assets. The fourth quarter results is similar to the pattern of Time Warner. Its fourth quarter results showed a similar pattern to Time Warner - net income was $1.4m after a loss of $1.9bn the year before, which resulted from costs relating to the short-lived marriage.
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