Time Warner
Time Warner (formerly AOL Time Warner) is a media conglomerate formed in 2000 by the merger of America Online, the largest internet service provider in the United States, and the original Time Warner, a media conglomerate in traditional paper publishing, film, and television.
The merger was and remains controversial in part due to concerns over monopoly issues (vertical integration). The collapse of the late 1990s tech industry economic bubble has greatly reduced the company's combined worth, and in 2002, the AOL component was considered to be the weakest part of the company. On September 17, 2003, AOL Time Warner announced that it would change its name to Time Warner, and its ticker symbol from AOL back to the original TWX used by Time Warner prior to the merger.
The following enterprises are, among others, part of Time Warner:
- CNN, a cable news channel
- HBO, Cinemax, Turner Classic Movies, cable movie channels
- TBS Superstation, TNT, The WB, Cartoon Network, cable channels
- America Online and via its Web Properties Group:
- CompuServe (Classic, 2000 and Basic), an Internet service provider
- Netscape, a web portal and browser vendor, formerly leader of the Mozilla project
- ICQ, AIM, instant messaging programs
- Mapquest, a WWW map and direction site
- Time Warner Cable, a cable television company
- Time Magazine, a weekly news magazine
- People Magazine, a weekly celebrity magazine
- Sports Illustrated, a sports magazine
- MAD magazine, a humor magazine
- Fortune, Money Magazine, business and investing magazines
- Warner Bros, a movie studio
- Warner Music Group, a music company
- New Line Cinema, a movie studio
- Atlanta Braves, a baseball team
- DC Comics, a comic book company
The Atlanta Hawks, Atlanta Thrashers, and operating rights to Philips Arena were sold in mid-2003.
See also Ted Turner and Steve Case.
Time Warner is traded on the New York Stock Exchange under the symbol AOL (returning to TWX). Its market capitalization is US $49 billion and as of mid-February 2003 it was traded at about US $11.07. When the AOL-Time Warner merger was announced in January 2000, the combined market capitalization was US $280 billion.
At the end of 2002, Time Warner announced that it had a yearly financial loss nearly US $100 billion dollars.Financial information
