Nov
01
1997

Time Warner

Time Warner selected holdings

(From "The Global Media Giants," by Robert W. McChesney, Extra!, November/December 1997) $25 billion - 1997 sales Time Warner, the largest media corporation in the world, was formed in 1989 through the merger of Time Inc. and Warner Communications. In 1992, Time Warner split off its entertainment group, and sold 25 percent of it to U.S. West, and 5.6 percent of it to each of the Japanese conglomerates Itochu and Toshiba. It regained from Disney its position as the world's largest media firm with the 1996 acquisition of Turner Broadcasting. Time Warner is moving toward being a fully global company, […]