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The Morning Fix: Time Warner profit drops; Microsoft-Yahoo go on a search; Epix isn't one yet; Just a little more on Silverman

July 29, 2009 |  6:43 am

After the coffee. Before figuring out Twitter's new home page.

CTlogosmall Time Warner reports. Time Warner said this morning that profits were off 34% for the media conglomerate's second quarter, primarily due to fewer DVD sales and a weaker advertising market. That 34% also takes into account that last year Time Warner Cable was still part of the company (it has since been spun off). Income from continuing operations was off just 8%. HBO was the bright spot. Early reports from the Associated Press and Broadcasting & Cable.

Today your love, tomorrow the world. Microsoft and Yahoo are finally teaming up on a search partnership in an effort to take on Google with Microsoft's Bing. The Wall Street Journal says Microsoft, which last year tried to takeover Yahoo, "wins what it wanted most from the Internet pioneer -- huge volumes of queries that run through Yahoo's search engine."

Epix tale. Epix, the new pay-cable outlet being launched this fall by Viacom, Lions Gate and MGM, signed its first distribution deal with Verizon's FiOS. But the deal has done little to ease concerns that Epix is a long shot. The channel still has no deals with any big cable operators and it is already a crowded market. Variety, the Wall Street Journal.

Burning questions. The Wrap's new TV editor, Joe Adalian, weighs in with five burning questions facing NBC in the post-Ben Silverman era. Interestingly, seems that many of the answers have to do with Jeff Zucker's management style and track record.

Malone looks abroad. Cable mogul John Malone, who already has substantial international holdings, may be looking to do more deals overseas, reports the Financial Times. Of particular interest are Japan and Germany.

Looking for more space. MySpace co-founder Chris DeWolfe, who was squeezed out of the social-networking site by News Corp. brass earlier this year, is looking to raise $100 million for his next venture, reports TechCrunch.

Inside the Los Angeles Times: Sumner Redstone's latest family feud plays out in court. Universal's "Wolf" delayed ... again. USA Network has become the powerhouse of basic cable. Can't get out to Pasadena for TV press tour? Showtracker has all you need. 

-- Joe Flint

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