Time Warner reports earnings increase

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Time Warner and Time Warner Entertainment Co. reported combined earnings before interest, taxes, depreciation and amortization of $814 million on revenues of $4.344 billion in the third quarter, before a music charge of $85 million, primarily for the closing of one of its direct marketing music businesses. In the third quarter of 1994, gross earnings were $747 million on revenues of $4.099 billion.

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