Time Warner Inc. (2.5%) (TWX – $96.53 – NYSE) (NYSE:TWX), located in New York, New York, is a diversified media company with operations in cable networks through HBO, TNT, TBS & CNN, and film & television production. We like the company’s cable networks, high margins and low capital intensity. We believe the AT&T-Time Warner transaction will close, and expect limited downside were the government to block the deal.
From the Gabelli Value 25 Fund first quarter 2017 shareholder letter.
