Time Warner has reported fourth-quarter profits, thanks to two hit films, Sherlock Holmes and The Hangover.
The BBC reports it marks a return to profit for the company in its first results since a split from AOL last year. They had merged in 2001.
Time Warner is now focused on movies and TV. Net income for the slimmer, new company was $US627 million.
That compares with a loss of $US16 billion in the last three months of 2008 due to writedowns on the value of its AOL and cable assets.
AOL's fourth-quarter results showed a similar pattern to Time Warner - net income was $US1.4 million after a loss of $US1.9 billion the year before.
Time Warner's revenue rose by 2% to $US7.3 billion. The company said it would increase the dividend to shareholders by 13% and, in order to reduce the number of shares in issue, treble the amount of money for buying back stock to $US3 billion.
Time Warner's businesses include Warner Brothers Pictures and the television channel CNN.
