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Time Warner Will Increase HBO’s Budget As Competition Grows, CEO Says


Time Warner plans to boost HBO’s programming budget, just as rivals including Netflix are doing, CEO Jeff Bewkes told an investor gathering yesterday.

“We have a pretty hefty budget, a couple of billion dollars,” he told the UBS Global Media and Communications Conference. “We’re not spending our programming money on library product. We’re doing original shows. … We’ve been increasing it, and we’ll keep increasing it.”

Acknowledging that the pricing arrangements are “complicated,” Bewkes said Time Warner just controls HBO’s wholesale price.The plans won’t be hurt by AT&T’s new decision to offer HBO to DirecTV Now customers for an additional $5 a month — a surprisingly low amount.

See more at Deadline.


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