Time Warner Cable Inc. and Sinclair Broadcasting Group Inc. stated on Saturday that they came to an agreement on programming fees that will avert the sort of channel blackouts for about four million cable subscribers that gave rise to controversy in the TV business.

Time Warner has stated that ESPN3 will be listing Time Warner Cable in the recent deal with Disney in the coming week, offering subscribers free offering to the sports site ESPN3.

The broadcaster of pioneering TV shows like Gossip Girl and Sex and the City, has shared that it has been pursuing negotiations with Warner Brothers Entertainment for acquiring Supernanny and Waterloo Road's producer Shed Media.

"There is no certainty that an offer will be not made nor as to the terms on which any offer might be made", stated the Company.

MGM studios will be offered $1.5 billion by Time Warner Inc. for an acquisition, according to a report published by the Financial Times. MGM, which is the owner of James Bond Franchise, will be paid in cash by Time Warner.

No replacement has been announced so far for Edward Adler, Time Warner Inc.’s Head of Communications, who will leave the company after spending more than 30 years in the same. During his tenure, he advised the Chief Executives Gerald Levin, Richard Parsons and Jeffrey Bewkes.

The largest and top ranked mail-order movie-rental service in the US, Netflix Inc. has managed to end the dispute and reach a new movie licensing agreement with Time Warner Inc.’s Warner Bros, which would give the studio a total of 28 days to sell new releases before customers can check out DVDs from the rental service.

On Thursday, at about midnight, nearly 13 million subscribers of Time Warner Cable Inc. were set to lose most of their Fox channels, unless the service provider managed to reach a last-minute deal to pay the demanded fees to News Corp to continue broadcasting the shows.

The world's largest entertainment house Time Warner Inc.'s earnings fell by 38% in third quarter.

Despite losses via AOL, which the firm plans to make a separate, publicly traded company by end of this year, the media giant topped analysts' expectations and raised its full-year earnings target to at least $2.05 a share, compared with a view initially of about $1.98.

New York-based Time Warner has purchased back Google's 5% stake in the stressed Internet company AOL, valuing the deal at US $283 million.

The price at which Time Warner repurchased the stake values AOL at approximately US $5.7 billion.

Time Warner has finally made a practical decision with regard to AOL - it intends spinning off AOL as an independent company by 2009-end! According to Time Warner, AOL as an independent entity will have a better chance of achieving its full potential in its specific media domain.