Stories by Scarlet Pruitt and James Evans

AOL Time Warner revenue rises, loss narrows

AOL Time Warner Inc. on Wednesday reported a 9 percent increase in revenue for its first quarter as the media conglomerate saw gains in subscription, advertising and content revenue. Still, the company said it will post a net loss of US$1.4 billion or $0.31 a share for the quarter ending March 31. The loss is because of merger-related expenses and pretax non-cash charges of $620 million, reflecting the write-down of certain investments in the AOL Time Warner investment portfolio, AOL Time Warner said in a statement. This year's loss compares to a loss of $1.5 billion or $0.34 a share for the same quarter last year.