Time Warner today reported a $16 billion loss in the 4th-quarter after writing down the value of intangible assets held by Time Warner Cable, AOL and Time Inc. Earnings for 2009 are seen as “about flat” compared to 2008 results. In the TV biz, including Turner Broadcasting and HBO, operating earnings fell 20% despite 8.7% higher revenue, including 10% from ads (with the firm blaming a $270 million charge on a court judgment). Movie earnings increased 7% despite an 11% drop in revenue.