Warner Bros. and Turner Broadcasting detailed plans to tighten their budgets as part of a Time Warner-wide effort to redirect more money into programming.
Warner boss Kevin Tsujihara said the studio is reducing costs by $200 million, or 10 percent, of its $2 billion marketing budget. Movie marketers are among the biggest spenders on TV advertising, in part because last-minute buying means higher rates.
Turner has said it is axing around 1,500 staffers. CNN on Wednesday canceled a host of shows, including "Sanjay Gupta MD" and "Crossfire," as part of the cost-cutting effort by division parent Turner.
Time Warner Chief Financial Officer Howard Averill said the company would take a $400 million charge in the second half due to severance costs and programming write-offs.
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