WarnerMedia (formerly Time Warner, Inc.) is an American multinational mass media and entertainment conglomerate headquartered in New York City and owned by AT&T. Before its acquisition by AT&T, it was the world's third-largest entertainment company in terms of revenue, after Comcast and The Walt Disney Company, and was also once the world's largest media conglomerate.
WarnerMedia was formed as Time Warner in 1990 from the merger of Time Inc. and Warner Communications. The current company consists largely of the assets of the former Warner Communications (as well as HBO, a Time Inc. subsidiary prior to the merger) and the assets of Turner Broadcasting (which was acquired by the company in 1996). Despite spinning off Time Inc. in 2014 (which has since been acquired by Meredith Corporation), the Time Warner name remained with the company until the completion of AT&T's acquisition in 2018.
WarnerMedia currently has major operations in film, television, cable networks, and publishing operations. Among its major assets are HBO, Turner Broadcasting System, The CW, Warner Bros., CNN, DC Comics, and a 10% stake in Hulu. In the past, other major divisions of WarnerMedia included Time Inc., AOL, Time Warner Cable, Warner Books, and Warner Music Group; all of these operations were either sold to other investors or spun off as independent companies.