Turner Broadcasting CEO Phil Kent to step aside

July 17, 2013 at 2:19 PM

ATLANTA, July 17 (UPI) -- U.S. media giant Time Warner Inc. said Wednesday Turner Broadcasting Chief Executive Officer Phil Kent will move up to chairman at the end of the year.

The company said Chief Financial Officer John Martin will succeed Kent, who has been the top executive at Turner Broadcasting, a division of Time Warner, since 2003, CNNMoney reported Wednesday.

During his tenure at the helm, Kent has helped orchestrate higher ratings for the Cartoon Network and CNN News, which has recently been rated the No. 2 cable news network by Nielsen.

CNN cable news began working its way up the ratings when Kent put former NBC executive Jeff Zucker in charge of the brand in November, CNNMoney said.

Time Warner properties Turner Broadcasting and HBO have been profitable in recent years, notching earnings of $4.7 billion in 2012.

Martin has been Time Warner's chief financial officer since 2008. Previously, he was CFO at Time Warner Cable.

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