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Time Warner(TWX) is having an amazing 2013. Shares of the $53 billion firm have jumped by more than 20% since the start of this year, doubling the broad market's performance over the same period. The firm's success shouldn't come as a huge surprise, though. With television networks such as HBO, CNN and TNT under its belt -- as well as the largest film studio in the world between Warner Bros. and New Line Cinema -- TWX has plenty of intellectual property to leverage on its balance sheet.
Recently, TWX has been shedding the pile of unrelated businesses it took on over the past few decades, and focusing on its core entertainment operations. In splitting off its cable utility, troubled
AOL(AOL) unit, and now its magazines, the firm generated cash while concentrating its revenue mix on the most attractive component of the business.
As new technologies like streaming video gain popularity, they could represent increasingly important revenue streams for content owners like TWX. And as Time Warner's balance sheet continues to balloon in value, shareholders should see performance metrics climb in kind -- especially with laggard units shed from the firm. We're betting on shares this week.
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