TIME WARNER, INC. (OLD)

TIME WARNER, INC. (OLD)

Previous company name
TW INC.
Name change date

Company Overview
Historic TW Inc. is an American media company that specializes in cable networks, publishing, music, filmed entertainment, cable and digital media. It provides prerecorded compact laser discs and cable television services. It is also involved in magazine publishing and sheet music publishing, as well as music licensing to radio stations, and motion picture production and distribution services. The company, formerly known as Time Warner Inc. was incorporated in 2001. Its corporate headquarters is located in New York, New York.
Historic TW is a part of Time Warner Inc., the world’s leading media and entertainment company that offers interactive services, cable systems, filmed entertainment, television networks and publishing services. These services are offered under the following brands: AOL, Time, CNN, CompuServe, Warner Bros., Netscape, Sports Illustrated, People, HBO, ICQ, AOL Instant Messenger, AOL MovieFone, TBS, TNT, Cartoon Network, Digital City, Warner Music Group, Spinner, Winamp, Fortune, Entertainment Weekly and Looney Tunes.
As part of the Time Warner Group, the company continues to provide the high-performance service, trustworthy information and enjoyable entertainment its audiences, members and customers expect.
Business Summary
Time Warner, Inc. is a media and entertainment company. The Company classifies its business interests into six fundamental areas. These are Cable Networks, consisting principally of interests in cable television programming; Publishing, consisting principally of interests in magazine publishing, book publishing and direct marketing; Music, consisting principally of interests in recorded music and music publishing; Filmed Entertainment, consisting principally of interests in filmed entertainment, television production, and television broadcasting; Cable, consisting principally of interests in cable television systems; and Digital Media, consisting principally of interests in Internet-related and digital media businesses.
Description and history
Time Warner, Inc. is a media and entertainment company. The Company classifies its business interests into six fundamental areas. These are Cable Networks, consisting principally of interests in cable television programming; Publishing, consisting principally of interests in magazine publishing, book publishing and direct marketing; Music, consisting principally of interests in recorded music and music publishing; Filmed Entertainment, consisting principally of interests in filmed entertainment, television production, and television broadcasting; Cable, consisting principally of interests in cable television systems; and Digital Media, consisting principally of interests in Internet-related and digital media businesses. Time Warner had revenues of $27.3 billion in 1999 compared to $14.6 billion in 1998.

Time Warner Entertainment Company, L.P. (TWE) is a limited partnership that was formed in 1992 to own and operate substantially all of the business of Warner Bros.,Home Box Office and the cable television businesses owned and operated by the Company prior to such date.

Cable Networks

The Company’s Cable Networks business consists principally of domestic and international basic cable networks and pay television programming services and the operation of World Championship Wrestling and sports franchises. The basic cable networks owned by Turner Broadcasting System, Inc. (TBS), a wholly owned subsidiary, constitute the principal component of the Company’s basic cable networks. TBS also operates several large advertiser-supported online sites, including the CNN family of Internet destinations. Pay television programming consists of the multi-channel HBO and Cinemax pay television programming services, operated by the Home Box Office division of TWE.

Through wholly owned subsidiaries, TBS owns the Atlanta Braves of Major League Baseball, the Atlanta Hawks of the National Basketball Association,and the Atlanta Thrashers of the National Hockey League.

Publishing

The Publishing business is conducted primarily by Time, Inc., a wholly owned subsidiary of the Company, either directly or through its subsidiaries. Time, Inc. is one of the world’s leading magazine and book publishers and is one of the largest direct mail marketers in the world. Time Inc. publishes some of the world’s best-known magazines, including Time, People, Sports Illustrated, Fortune, Money, Entertainment Weekly, and In Style. Southern Progress Corporation publishes several regional magazines. Time Publishing Ventures, Inc. (TPV) manages Time, Inc.’s specialty publishing titles. Parents and families are addressed by the Parenting Group, Inc., which publishes Parenting, Baby Talk and Family Life.

Time, Inc.’s international operations include both regional versions of some of its core magazines, as well as publications whose editorial content and focus are outside the United States. Time, Inc.Custom Publishing is a marketing division of Time, Inc., producing magazines and newsletters for corporate clients utilizing content from Time, Inc. magazines and archival photography from the Time, Inc. photography collection, as well as original content.

Time Life, Inc. is a direct marketer of continuity series of books, music and videos. Time, Inc.’s trade publishing operations are conducted primarily by Time Warner Trade Publishing, Inc. through its two major publishing houses, Warner Books and Little, Brown. Oxmoor House, Inc., a subsidiary of Southern Progress, markets how-to books. Leisure Arts, Inc., also a subsidiary of Southern Progress, is a well-established publisher and distributor of instructional leaflets, continuity books series and magazines for the needlework and crafts markets. Sunset Books, managed by Oxmoor House, markets books on various topics.

Music

The Company’s worldwide recorded music and music publishing businesses are conducted under the umbrella name, Warner Music Group (WMG). In the United States, the Company’s recorded music business principally is conducted through WMG’s Warner Bros. Records, Inc., Atlantic Recording Corporation, Elektra Entertainment Group, Inc. and London-Sire Records, Inc. and their affiliated labels, as well as through the WEA, Inc. companies. WMG’s recorded music activities also are conducted in 67 countries outside the United States through various subsidiaries, affiliates and non-affiliated licensees. WMG’s music publishing companies own or control the rights to more than one million musical compositions.

The Company’s Filmed Entertainment businesses produce and distribute theatrical motion pictures, television shows, animation and other programming, distribute home video product, operate The WB Television Network, license rights to the Company’s characters,operate retail stores featuring consumer products based on the Company’s characters and brands and operate motion picture theaters. The filmed entertainment business also includes New Line Cinema Corporation and Castle Rock Entertainment, as well as the Turner libraries, which include Hanna-Barbera, MGM, RKO and classic Warner Bros. films and animated shorts.

Warner Home Video (WHV) distributes for home video use pre-recorded videocassettes and DVDs containing the filmed entertainment product of the Company’s Warner Bros. Pictures, WarnerVision Entertainment, Castle Rock, New Line Cinema and Home Box Office divisions. Through joint ventures, Warner Bros. International Theatres at December 31, 1999 operated 107 multi-screen cinema complexes with 975 screens in seven foreign countries.

Studio Stores operates 146 stores in the United States. Fifty-four other stores are owned and operated by franchisees in 14 countries or territories throughout the world.TWE and a wholly owned subsidiary of Time Warner each own a 50% interest in DC Comics. Time Warner wholly owns E.C. Publications, Inc., the publisher of MAD, a magazine featuring articles of humorous and satirical interest.

Cable

The Company’s Cable business consists principally of interests in cable television systems that are generally managed by Time Warner Cable, a division of TWE. During 1999, Time Warner Cable began an aggressive rollout of digital cable service in many of its cable systems.

TWE’s cable systems include approximately 6.7 million subscribers in a joint venture between TWE and Advance/Newhouse known as TWE-A/N. In 1998, TWE, TWE-A/N, TWI Cable, MediaOne, and subsidiaries of Microsoft Corp. and Compaq Computer Corp. formed a joint venture to operate and expand Time Warner Cable’s and MediaOne’s then-existing high-speed online service business (the Road Runner Joint Venture).The Road Runner cable service provides high-speed Internet access and also offers content optimized for broadband-capable networks.

To date, Time Warner Cable has agreed to carry the high-definition television signals and other digital signals that will be broadcast by television stations owned and operated by the CBS and Fox networks; and Time Warner Cable is seeking similar arrangements with other broadcasters. By adding digital servers and software to its digital television service platform, Time Warner Cable will be able to offer network-based ‘true’ video-on-demand services, including ‘virtual’ VCR features such as pause, rewind and fast forward.

Time Warner Telecom, Inc. is a facilities-based integrated communications provider that offers a wide range of business telephony services in selected metropolitan areas across the United States.

Digital Media

During 1999,Time Warner created Time Warner Digital Media to develop and implement a company-wide digital media strategy, to fund and oversee digital media initiatives across Time Warner’s divisions and to identify and pursue digital media-related investment opportunities.

Formerly known as Time Warner Inc.

Business Line
Media company that specializes in cable networks, publishing, music, filmed entertainment, cable and digital media
Subsidiary
CNN SPORTS ILLUSTRATED
Advisor
ERNST & YOUNG LLP
IPO date

US SIC Code
7812
Company Address
75, Rockfeller Plaza

City province or state postal code
10019, NEW YORK, NY
Phone: +1 212 484 8000
Fax:
Country address: UNITED STATES OF AMERICA
Website url: www.timewarner.com