This is a much-looked-at border skirmish, which is not going to mar the overall cash flow strength of either company.

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This squares off a wrestling match between branded content and means of distribution with Disney's array of household media names pitched against Time Warner's hefty strength in cable distribution.

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Anyone who picks up a newspaper in the morning can feel that it's a lighter newspaper. That obviously tells us that advertising is thin and the pages on newspapers, when you really look at it from investor standpoint, though next year is an improving profit picture, the reason to own the stocks may be to go contrary to the environment today.

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