Virtual MVPDs 'Gaining Traction,' Offsetting Some Declines, Says Time Warner CEO

Virtual MVPDs "are gaining traction" and offsetting some subscriber declines among traditional MVPDs, Time Warner CEO Jeff Bewkes said in an analyst call Wednesday. He said they're demonstrating consumer demand for cheaper skinny bundle packages. He said AT&T's planned buy of TW is expected to close by year's end. Warner Bros. Entertainment CEO Kevin Tsujihara said TW continues to talk with motion picture exhibitors about "a premium video on-demand model" allowing for earlier home consumption of movie content. TW said Q1 sales rose about 6 percent to $7.74 billion from the year-ago quarter as operating income gained about 4 percent to $2.1 billion.