Time Warner in JV talks

Time Warner Inc is talking with China's top two broadcasters, China Central Television (CCTV) and Shanghai Media Group (SMG), about partnerships in the country's newly opened TV programming sector, Time Warner CEO Richard Parsons said Tuesday. Time Warner, Sony Corp and Viacom Inc have announced several TV- and movie-making ventures recently, following the opening of the industry to foreign investment late last year. Time's HBO unit formed a partnership last year to provide movies to CCTV.