Time Warner Inc. (TWI, at one former interval named AOL Time Warner,
stylized as TimeWarner since 2003) is an American multinational media and entertainment conglomerate headquartered in the Time Warner Center in New York City. It is currently the world's third largest television networks and filmed TV & entertainment company in terms of revenue (after Comcast and The Walt Disney Company), and at one time was the world's largest media conglomerate.
Time Warner was formed in 1990 through 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 Warner merger) and the assets of Turner Broadcasting (acquired in 1996). Time Warner currently has major operations in film and television, with a limited amount of publishing operations. Among its assets are New Line Cinema, HBO, Turner Broadcasting System, The CW Television Network, Warner Bros., Cartoon Network, Boomerang, Adult Swim, CNN, DC Comics, Warner Bros. Animation, Cartoon Network Studios, Hanna-Barbera, Esporte Interativo, Castle Rock Entertainment and Warner Bros. Interactive Entertainment.
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 between 2004 and 2014.
On January 24, 2006, CBS Corporation and Time Warner announced that they were to create a new broadcast network, The CW. The network officially debuted on September 18, 2006. The network formally debuted on September 20 with the 2-hour premiere of America's Next Top Model.
The network is the result of a merger of The WB (a Time Warner holding) and UPN (a CBS Corporation holding). CBS Corporation and Time Warner each own 50% of the network. Tribune Broadcasting (previously owned a 25% stake on The WB) and CBS Corporation contributed its stations as new network affiliates, although Time Warner's sole owned TV station (via Turner) Atlanta's WTBS (now WPCH and operated by Meredith Corporation though a local marketing agreement) remains an independent station, competing against CBS-owned CW O&O WUPA.
On October 23, 2002, AOL Time Warner Inc., posted a third quarter profit, but said it would restate two years of results - cutting $190 million in revenues - due to accounting problems at its embattled America Online division.
On July 23, 2003, the company would have to restate an additional $400 million in advertising revenue as a result of an SEC inquiry.
On November 3, 2004, Time Warner Inc. would restate earnings from 2000 and 2001 to include losses from AOL Europe and set aside $500 million to cover costs related to federal investigations into accounting at its America Online unit.
On February 2, 2011, Time Warner reported a 2010 revenue of $26.9 billion, highest growth rate since 2004 and a 6% rise since 2009.
On February 8, 2012 Time Warner reported revenue of $29.0 billion, highest growth rate since 2003.
On February 6, 2013, Time Warner reported revenue for 2012 of $28.7B and an adjusted operating income of $6.1B.
Time Warner owns several large properties in New York City; certain buildings in the Rockefeller Center complex and adjacent office towers house its main offices; one of which houses a CNN news studio. In late 2003, Time Warner finished construction of a new twin-tower complex, designed to serve as additional office space, facing Columbus Circle on the southwestern edge of Central Park. Originally called the AOL Time Warner Center, the 755-foot (230 m), 55-floor mixed-use property was renamed Time Warner Center when the company itself was renamed.
Time Warner faces industry competition from traditional media companies such as Sony, CBS Corporation, 21st Century Fox, Viacom, The Walt Disney Company, and Comcast. Time Warner's and many of their competitions' business may be severely impacted by the increasing viewership of feature films, television programming and other content online with low ad-income, which decreases company revenues.
Box office receipts have been rising while the growth rate of DVD sales have recently been declining, which affects Warner Bros.' growth prospects and revenues.
Time Warner was formed in 1990 through 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 Warner merger) and the assets of Turner Broadcasting (acquired in 1996). Time Warner currently has major operations in film and television, with a limited amount of publishing operations. Among its assets are New Line Cinema, HBO, Turner Broadcasting System, The CW Television Network, Warner Bros., Cartoon Network, Boomerang, Adult Swim, CNN, DC Comics, Warner Bros. Animation, Cartoon Network Studios, Hanna-Barbera, Esporte Interativo, Castle Rock Entertainment and Warner Bros. Interactive Entertainment.
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 between 2004 and 2014.
On January 24, 2006, CBS Corporation and Time Warner announced that they were to create a new broadcast network, The CW. The network officially debuted on September 18, 2006. The network formally debuted on September 20 with the 2-hour premiere of America's Next Top Model.
The network is the result of a merger of The WB (a Time Warner holding) and UPN (a CBS Corporation holding). CBS Corporation and Time Warner each own 50% of the network. Tribune Broadcasting (previously owned a 25% stake on The WB) and CBS Corporation contributed its stations as new network affiliates, although Time Warner's sole owned TV station (via Turner) Atlanta's WTBS (now WPCH and operated by Meredith Corporation though a local marketing agreement) remains an independent station, competing against CBS-owned CW O&O WUPA.
On October 23, 2002, AOL Time Warner Inc., posted a third quarter profit, but said it would restate two years of results - cutting $190 million in revenues - due to accounting problems at its embattled America Online division.
On July 23, 2003, the company would have to restate an additional $400 million in advertising revenue as a result of an SEC inquiry.
On November 3, 2004, Time Warner Inc. would restate earnings from 2000 and 2001 to include losses from AOL Europe and set aside $500 million to cover costs related to federal investigations into accounting at its America Online unit.
On February 2, 2011, Time Warner reported a 2010 revenue of $26.9 billion, highest growth rate since 2004 and a 6% rise since 2009.
On February 8, 2012 Time Warner reported revenue of $29.0 billion, highest growth rate since 2003.
On February 6, 2013, Time Warner reported revenue for 2012 of $28.7B and an adjusted operating income of $6.1B.
Time Warner owns several large properties in New York City; certain buildings in the Rockefeller Center complex and adjacent office towers house its main offices; one of which houses a CNN news studio. In late 2003, Time Warner finished construction of a new twin-tower complex, designed to serve as additional office space, facing Columbus Circle on the southwestern edge of Central Park. Originally called the AOL Time Warner Center, the 755-foot (230 m), 55-floor mixed-use property was renamed Time Warner Center when the company itself was renamed.
Time Warner faces industry competition from traditional media companies such as Sony, CBS Corporation, 21st Century Fox, Viacom, The Walt Disney Company, and Comcast. Time Warner's and many of their competitions' business may be severely impacted by the increasing viewership of feature films, television programming and other content online with low ad-income, which decreases company revenues.
Box office receipts have been rising while the growth rate of DVD sales have recently been declining, which affects Warner Bros.' growth prospects and revenues.
No comments:
Post a Comment