Before Wednesday’s opening bell, Time Warner (TWX) released its fourth quarter financial results. Here’s what the results mean for mutual fund investors.

Earnings

TWX reported earnings of $718 million, or 84 cents per share, down from $983 million, or $1.06 per share, last year. Excluding special items, earnings were $1.14 per share – above analysts’ view of 93 cents.

Revenue
Revenue dipped to $7.53 billion from $7.60 billion. Analysts expected to see revenue of $7.55 billion.

Outlook
Looking forward, the company expects to see FY2015 earnings between $4.60 and $4.70 per share. Analysts expect to see EPS of $4.66.

Time Warner has several big brands under its umbrella, but the spotlight has been on what the company might do with HBO. The company may also have the catalyst of being a potential takeover target. In 2014, 21st Century Fox put in a takeover bid for the company. Although this bid was later withdrawn, it is possible that TWX could spark additional takeover interest from other companies.

Investors interested in TWX may also consider a mutual fund as an alternative to owning the individual stock. The funds below currently hold the largest stakes in TWX.

The funds listed above allow investors to gain exposure to TWX while remaining diversified. Investors interested in TWX may also be interested in Comcast (CMCSA) or Disney (DIS).