Time Warner bets on Turner original programming

By Kenneth Li

NEW YORK (Reuters) - Time Warner Inc's Turner Entertainment Networks plans to invest heavily in original shows, aiming to win a bigger share of advertising dollars from broadcast networks.

By 2010, cable network Turner said on Wednesday it will allot the majority of its prime-time schedule to airing original programming. It plans to air originally created shows from Monday through Wednesday, Turner said.

Turner, once known primarily for airing reruns has started investing in programming over the past few years and now broadcasts shows such as "Saving Grace," which stars Academy Award winner Holly Hunter.

"Our brands are excellent broadcast replacements," Steve Koonin, president of Turner Entertainment Networks, told an audience of marketers and press.

Cable networks are benefiting from the migration of viewers from broadcast networks earlier this year as a prolonged writers' strike left the broadcast networks without new scripted shows, prompting audiences to look at cable alternatives.

Turner's presentation was part of a strategy to steal some thunder from the bigger broadcast networks, which are holding their annual upfront presentations this week to unveil their upcoming prime-time programming schedules and sell advertising.

"Consumers are watching television without any delineation between broadcast and cable," David Levy, president of Turner Broadcasting sales, said.

Its strategy is also part of plan by Time Warner, once the biggest media company in the world, to turn Wall Street's attention back on its content-creating roots and away from