Time Warner

Time Warner, Inc.
Formerly called
  • Time-Warner (1990–2001)
  • AOL Time Warner (2001–2003)
Public
Traded as
Industry Mass media
Predecessors
Founded January 10, 1990; 28 years ago (1990-01-10)
Founder Steve Ross [1]
Headquarters New York City, New York, U.S.
Area served
Worldwide
Key people
Jeff Bewkes ( Chairman and CEO)
Revenue Increase US$31.3 billion (2017) [2]
Increase US$7.9 billion (2017) [2]
Increase US$3.833 billion (2015) [2]
Total assets Increase US$69.209 billion (2017) [2]
Total equity Increase US$28.376 billion (2017) [2]
Number of employees
25,000 (2016) [3]
Divisions HBO
Turner Broadcasting System
Warner Bros. [4] [5] [6]
Subsidiaries List of subsidiaries
Website www.timewarner.com

Time Warner, Inc. is an American multinational mass media and entertainment conglomerate headquartered in New York City. [7] It is currently the world's third largest entertainment company in terms of revenue, after Comcast and The Walt Disney Company. It was also once the world's largest media conglomerate. [8] Time Warner was first founded in 1990, with the merger of Time Inc. and Warner Communications. The current company consists largely of the assets of the former Warner Communications (as well as HBO, a Time Inc. subsidiary prior to the merger), and the assets of Turner Broadcasting (which was acquired by the company in 1996).

Time Warner currently has major operations in film and television, with a limited amount in publishing operations. Among its major assets are HBO, Turner Broadcasting System, The CW, Warner Bros., CNN, DC Comics, and as of August 2016, Hulu, owning 10%. [9] In the past, other major divisions of Time Warner included Time Inc., AOL, Time Warner Cable, Warner Books and Warner Music Group. All of these operations were either sold to other investors or spun off as independent companies from 2004 to 2014.

On October 22, 2016, AT&T announced its intent to acquire Time Warner for $108.7 billion (including assumed Time Warner debt). [10] [11] In November 2017, the U.S. Justice Department said it was moving to sue to block the AT&T-Time Warner merger. [12]

Divisions

Time Warner consists of three divisions: Home Box Office, Inc. ( HBO), Turner Broadcasting System, Inc., and Warner Bros. [13]

HBO

Home Box Office, Inc. operates the namesake HBO premium television service as well as sister service Cinemax. HBO- and Cinemax-branded channels are available in over 70 countries around the world, and HBO programming is licensed to other television networks in over 150 countries. [14]

In 2012, HBO was the number-1 premium pay television service in primetime television and total day ratings. [14] In 2013, the network received five Golden Globes and 23 primetime Emmy Awards. [15]

HBO's programming includes the airing of feature films, HBO Documentary Films, HBO original films, and HBO original programming, HBO Sports (live HBO Boxing events). The network has developed content distribution platforms, like HBO GO [16] and Max GO to help support and deliver programming to users via online and mobile devices.

HBO's notable original programming includes Game of Thrones, Sex and the City, The Sopranos, Curb Your Enthusiasm, The Wire, Entourage, Deadwood, True Blood, Boardwalk Empire, Girls, Veep, Silicon Valley, and Westworld, as well as motion pictures, mini-series, boxing matches and sports programs, comedy specials, family programming and documentaries. In 2011, Cinemax launched its first original primetime series, Strike Back, and has subsequently launched the original primetime series, Hunted and Banshee. [17]

Turner Broadcasting System

Turner Broadcasting System, Inc. (Turner) operates international news, entertainment, animation, young adult and kids media networks as well as related businesses. Turner brands include CNN, HLN, TNT, TBS, Cartoon Network, Turner Classic Movies, truTV, Turner Sports, and more. Turner's brands and sub brands reach broad domestic and international audiences. [18] In addition to television network programming, Turner manages digital sports entities, including bleacherreport.com NBA.com, PGA.com and NCAA.com. Turner's TBS channel reaches large audiences in the 18- to 34-year-old bracket [19] and its news network, CNN, provides a 24-hour news network that delivers news and analysis to domestic and international audiences across multiple platforms. Turner Sports produces sports programming and content for the Turner Networks and related digital properties. Turner Sports' television line-up includes NBA and MLB games, the NCAA Tournament Games, and the PGA Championship. Turner operates PGA.com and related digital properties of the PGA under agreements with the PGA. Turner and the NBA jointly manage a portfolio of the NBA's digital businesses, including NBA TV, NBA.com, NBA League Pass, NBA Mobile and the NBA GameTime app. Also Turner and MLB jointly manage a portfolio of the MLB's digital businesses including MLB Network, MLB.com, MLB Extra Innings and the MLB Network App. [20]

Warner Bros.

Warner Bros. businesses range from feature film and TV to home entertainment production and worldwide distribution to home video, digital distribution, animation, comic books, licensing and international cinemas and broadcasting. In 2012, the Warner Bros. Pictures Group grossed 4.3 billion dollars at the worldwide box office. [21] Home Video is the industry leader with a 21% market share in total DVD and Blu-ray sales. [22]

The Warner Bros. Home Entertainment Group works across platforms and outlets in the digital realm with video-on-demand, branded channels, original content, anti-piracy technology and broadband & wireless destinations. Each year Warner Bros. Pictures produces between 18 and 22 films. Warner Bros. has produced more than 50 television series in the 2012–2013 television season. Warner Bros. has also incorporated DC Comics content into Warner Bros. Entertainment via the creation of the DC Entertainment division, which was founded in 2009. DC Entertainment, which is wholly owned by the Company, is responsible for bringing the stories and characters from the DC Comics, Vertigo and MAD Magazine publishing portfolios into other Warner Bros. content and distribution businesses, including feature films, television programming, video games, direct-to-consumer platforms and consumer products. The DC Comics imprint, home to such iconic characters as Batman, Superman, Wonder Woman, Flash and Green Lantern, has launched digital versions of its top comic book and graphic novel titles, making them available for download on digital platforms. [23]

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