Smaug a winner for Time Warner

Media giant Time Warner’s revenue rose 7 per cent to US$4 billion (NZ$4.8b) in the December quarter, helped in part by the release of The Hobbit: The Desolation of Smaug, which is on the way to becoming a US$1b movie. The latest Hobbit film was only released on December 13, near the end of Time Warner’s financial quarter, so the latest revenues include just a couple of weeks of the film’s returns.

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Who gets Paul Walker’s millions?

Paul Walker’s teenage daughter is the sole beneficiary of the actor’s estate, which is valued at an estimated US$25 million (NZ$27.8 million), court records show. The star’s final will and testament was filed January 28 in Santa Barbara and calls for his father to serve as executor of the estate and for his mother to serve as guardian of the actor’s 15-year-old daughter.

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