Posted at 4:03 p.m. ET
In the midst of a corporate-wide initiative to manage costs and run its operations more efficiently, Time Warner Inc. chairman and CEO Jeff Bewkes said that the media giant will spend wisely in 2009, and in the case of its programming networks, more.
On a conference call discussing 2008 and fourth-quarter results with analysts Wednesday, Bewkes said that although Time Warner has aggressively reduced operating expenses and expects capital expenditures to be flat in the coming year, "We are going to invest more on content development this year than last year."
Time Warner's cable networks have already expanded their programming lineups - TNT will air 10 original series (including six new shows) in 2009 and TBS will broadcast three.