Time Warner Inc. (NYSE: TWX) is the world's largest media and entertainment conglomerate, headquartered in the Time Warner Center in New York City. (TimeWarner.com Fact Sheet Page) Formerly three separate companies (and owns the assets of a fourth, Turner Broadcasting System, Inc., acquired by a pre-AOL merger TW in 1996): Warner Communications, Inc.

and Time Inc. before the Time-Warner merger in 1990 and America Online, Inc. before its purchase of Time Warner in 2001 has created the current Time Warner , with major operations in film, television, publishing, Internet service and telecommunications.

Among its subsidiaries are AOL, New Line Cinema, Time Inc., HBO, Turner Broadcasting System, The CW Television Network, TheWB.com, Warner Bros. Entertainment, Kids' WB, The CW4Kids, Cartoon Network, Hanna-Barbera, Ruby-Spears Productions, Adult Swim, CNN, DC Comics, and Warner Bros. Games.

Terra Firma Capital Partners is likely to buy a 10% Stake in TW , since it would buy all the remaining rights and stakes of Time Warner in Warner Music Group and merge it with EMI. In 1972, Kinney National Company spun off its non-entertainment assets due to a financial scandal over its parking operations and renamed itself Warner Communications Inc.

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