Time Warner Inc. is one of the largest and most famous media conglomerates. Their headquarters are located in the Time Warner Center, New York City. Time Warner was created by three companies and the assets of a fourth company, namely Turner Broadcasting System, which was acquired by TW – which will later on become AOL (America Online). The three companies were Warner Communications, Time and America Online.

 

Time Warner handles a wide array of media and entertainment-related operations, including film, television, publishing, Internet service and telecommunications. AOL, New Line Cinema, Time Inc., Time Warner Cable, HBO, Turner Broadcasting System, The CW Television Network, TheWB.com, UBU Productions, Warner Bros. Entertainment, Kids' WB, The CW4Kids, Cartoon Network, CNN, DC Comics, and Mohawk Productions are all subsidiaries of Time Warner.

 

Recently, Time Warner has announced that they expected to record a fourth-quarter write down of $25 billion. The write down will undoubtedly be an operating loss.

Time Warner expects a full-year loss, although they had previously anticipated a profit of $1.04 to $1.07 a share.

 

Except for the $25 billion write-down, which is for the cable, publishing and AOL units, Time Warner also has to pay $280 million for a judgment and about $60 million for a lease restructuring.