Turner International, a company owned by Time Warner announced that one of its precious market’s, the Indian market is expected to have a slower growth in profit than the record year of 2008. President of Turner International Asia-Pacific Stephen Marcopoto stated “The last calendar year was a record year for us with growth in the high teens.” Expectations of this year will be a high single digit growth which is a bit more than half of what they recorded last year. Although India is the biggest market for the company, lower advertising revenue is the reason to blame the decreased projected year. While announcing this unfortunate piece of news to the media, Marcopoto essentially saved himself by saying, “I can't stress just how dynamic and resilient the Indian market is... it is healthy compared to some other markets which are struggling with low or flat growth” (Marcopoto).
Marcopoto made a great move by encouraging stakeholders, stockholders, and people interested in the company with his second statement. The Indian market will also see his boost of confidence in them and will surely continue to engage with Time Warner financially.
Luthra, Nitin. "Turner Expects its Idia Growth to Slow." March 4, 2009.
http://online.wsj.com/article/SB123616138247127981.html?mod=msn_money_ticker&ru=msn_money
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