Warner Media, LLC at a Glance


  • Reputation as one of the top media and entertainment companies
  • Employee benefits, employee diversity resource groups, green initiatives and volunteer programs are strong


  • Some subsidiaries have a reputation for poor customer service, such as Time Warner Cable
  • Economic trends and changes in the media industry have affected the company, including layoffs at many companies

The Bottom Line

  • Time Warner is an industry leader in media and entertainment with a diverse array of companies, including cable networks, television, movies and print publications.

About Warner Media, LLC

Even among media titans, this company is a giant. Time Warner is one of the world's largest media conglomerates behind Walt Disney and News Corporation, with operations spanning television and film. Through subsidiary Turner Broadcasting, the company runs a portfolio of cable TV networks including CNN, TBS, and TNT. Time Warner also operates pay-TV channels HBO and Cinemax. Its Warner Bros. Entertainment, meanwhile, includes film studios (Warner Bros. Pictures, New Line Cinema), TV production units (Warner Bros. Television Group), and comic book publisher DC Entertainment. In 2018, Time Warner was to be bought by AT&T Inc. for $85 billion after a federal judge OKed the deal over government objections.


The company divides its business into three reportable segments: Turner, Home Box Office, and Warner Bros. Turner consists of cable networks and digital media properties. Home Box Office consists of premium pay television and streaming services domestically and premium pay, basic tier television, and streaming services internationally. The company's Warner Bros. segment consists of television, feature film, home video, and video game production and distribution.

Geographic Reach

Time Warner's content and brands have a truly global reach. However, in fiscal 2016, more than 70% of the company's revenue came from the US and Canada, followed by Europe accounting for 15%.

Time Warner has offices; studios; technical, production and warehouse spaces and communications facilities in the US, Hong Kong, Chile, Argentina, and the UK. Outside of the US, Turner’s portfolio of brands and digital businesses reaches consumers in more than 200 countries and territories.

Sales and Marketing

While the company's various media holdings earn millions through advertising sales, Time Warner itself spent $2.4 billion on advertising in fiscal 2016. The company sells and distributes its products through licensing to affiliates and digital distributors, apps, digital storefronts, traditional retailers, the Amazon Prime SVOD (Subscription Video-On-Demand) service, and other exhibitors such as airlines and hotels. In 2016, it had approximately 49 million domestic subscribers.

Financial Performance

Time Warner's revenue was $29.3 billion in fiscal 2016. That was a decrease compared to the company's revenue the prior fiscal year.

The company's net income was $3.9 billion in fiscal 2016. That was an increase compared to its fiscal 2015 net income of $3.8 billion.

Despite the company's decreased revenue, Time Warner ended fiscal 2016 with $4.6 billion in cash flow from operations, which was an increase compared to fiscal 2015.


Time Warner is greater than the sum total of its parts. Like other media conglomerates, the company focuses on maximizing the profit potential of its original content by distributing that material through multiple channels. For example, a film produced by Warner Bros. can be shown in theaters, aired for subscribers on HBO, and then aired again on one of its advertising-supported cable outlets. The company also uses its vast array of media outlets to cross-promote its movies, TV shows, and magazines.

The company's Networks segment has adopted a successful programming strategy: TBS has positioned itself as a popular outlet for sitcoms and other comedy programming and TNT has focused largely on airing dramatic movies and TV shows.

Back in 2015 Time Warner spun off its Publishing unit (Time Inc.) that had been struggling with the challenging environment of declining print readership.

Mergers and Acquisitions

Time Warner agreed to be bought by AT&T in 2016. The deal was close to closing in 2018 after a federal approved the deal, overruling government objections of media concentration. The deal combines AT&T's distribution networks with Time Warner's premium content.

In 2016, Warner Bros. acquired Machinima, the global programming service focused on fandom and gamer culture for less than $100 million. This acquisition is a part of the company’s strategy to reach audiences directly through company-owned current and OTT services. Machinima will operate as a wholly owned part of Warner Bros. Digital Networks.

In 2016, Warner Bros. acquired DramaFever, a U.S.-based company that operates subscription and on-demand video services. This acquisition helped the company to rapidly enhance and grow the DramaFever channel and OTT services.

In 2016, the company acquired a 10% ownership interest in Hulu, LLC (Hulu), a company that provides OTT services, for $590 million cash. This acquisition helped the company to enhance consumer relationship and provided opportunities to create the next generation of OTT services, Internet TV brands and support innovative digital services.

In 2015, the company acquired a majority ownership interest in iStreamPlanet, a provider of streaming and cloud-based video and technology services, for $148 million cash. This partnership will expand the company’s capabilities to offer live events within and outside of the traditional ecosystem and, by bringing iStreamPlanet’s innovative technology in-house, allow cultivating future business opportunities on digital platforms.

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Warner Media, LLC

New York, NY 10019-6010
Phone: 1 (212) 484-8000


  • Employer Type: Publicly Owned
  • EVP and CFO: Howard M. Averill
  • Chairman and CEO: Jeffrey L. Bewkes
  • CIO: Mitchell Klaif
  • Employees: 26,000

Major Office Locations

  • New York, NY

Other Locations

  • Lancaster, CA
  • Los Angeles, CA
  • Simi Valley, CA
  • Washington, DC
  • Tampa, FL
  • Evansville, IN
  • Mayfield, KY
  • Morganfield, KY
  • Goldsboro, NC
  • Statesville, NC
  • Center Conway, NH
  • Plymouth, NH
  • Orchard Park, NY
  • Mount Vernon, OH
  • Bristol, WI
  • Moscow, Russia
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