Time Warner (US)

Time Warner is the world's biggest media group, with a broad range of interests including the Warner Bros filmed entertainment stable, the Turner and HBO cable networks, #1 magazine publisher Time Inc, and of course AOL, one of the world's leading online businesses. That company joined the group in 2000, in a deal which came to symbolize the madness of the dotcom era. The internet company was able to use its over-inflated share price to acquire what was already the #1 media group. Friends and enemies alike promised that the deal would have a far-reaching effect on the way consumers access news, music and filmed entertainment. But within two years, the real question was whether the deal was even worth doing in the first place. The combined giant failed spectacularly to live up to all the rhetoric, and many critics began to argue that a break-up would be more beneficial. In early 2003 AOL Time Warner recorded the biggest loss in US history, almost $100bn, when it wrote off the value of its over-inflated assets, primarily America Online itself. AOL's contribution to the group continued to steadily decline, and Time Warner finally confirmed in 2009 that it would spin off the division as a separate company before the end of the year. Although it still carries the corporate brand, Time Warner Cable was demerged as an independent business in March 2009. Advertising Age estimated global measured advertising expenditure of $2.0bn in 2007, making Time Warner the world's #11 advertiser.

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Time Warner website

Warner Bros Entertainment	Time Inc Publishing
Turner / HBO	America Online

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