Formed in 1990 with the merger of magazine publisher Time Inc. and film and music company Warner Communications, Time Warner is currently one of the world's largest media and entertainment conglomerates. Consisting of three divisions, Time Warner owns Turner Broadcasting (which houses CNN and TNT, for example), Home Box Office (the premium cable channel famous for hit dramas such as 'Game of Thrones' and 'The Sopranos') and its filmed entertainment unit Warner Brothers. In 2014, Time Warner completed its spin-off of Time Inc., the magazine publishing house which produces titles including 'Time', 'Fortune' and 'People'.

More from Video

Stock Market Just Took Another Beating -- Here's What You Need to Know

Stock Market Just Took Another Beating -- Here's What You Need to Know

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Intel CEO Out After Past Relationship With Staffer - Why Stock Is Now in Play

Intel CEO Out After Past Relationship With Staffer - Why Stock Is Now in Play

Jim Cramer: Williams Sonoma Is a Digitized Play

Jim Cramer: Williams Sonoma Is a Digitized Play

This Is What's Hot Thursday - Stocks Slide, Intel's CEO Woes & Major Movers

This Is What's Hot Thursday - Stocks Slide, Intel's CEO Woes & Major Movers