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Write-downs on upswing


January 08, 2009 Time Warner, for example, said Wednesday that its year-end review will lead it to take an impairment charge of about$25 billion, with an estimated$15 billion assigned to Time Warner Cable's franchises and the rest to AOL and the company's Time Inc. magazine unit. Similarly, CBS Corp. in October took a noncash impairment charge of $14.12 billion because of "current market conditions" that have reduced the value of the firm's assets. CBS didn't break out details, but analysts suggested that the reduced market value of TV and radio stations likely played a key role.

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