Time Magazine 2014 Annual Report Download - page 19

COMPANY DESCRIPTION
Time Warner Inc. (the “Company” or “Time Warner”), a Delaware corporation, is a leading media and entertainment
company. The Company classifies its businesses into the following three reportable segments:
• Turner, consisting principally of cable networks and digital media properties;
• Home Box Office, consisting principally of premium pay television services domestically and premium pay and
basic tier television services internationally; and
• Warner Bros., consisting principally of television, feature film, home video and videogame production and
distribution.
For more information about the Company’s reportable segments, see “Management’s Discussion and Analysis of Results
of Operations and Financial Condition — Overview.”
At December 31, 2014, the Company had a total of approximately 25,600 employees.
On June 6, 2014, the Company completed the legal and structural separation of Time Inc. from the Company (the “Time
Separation”). With the completion of the Time Separation, the Company disposed of the Time Inc. segment in its entirety.
See “Management’s Discussion and Analysis of Results of Operations and Financial Condition” for additional information.
BUSINESSES
Turner
Turner Broadcasting System, Inc. (“Turner”) owns and operates a leading portfolio of domestic and international cable
television networks and related properties that offer entertainment, sports, kids and news programming on television and
digital platforms for consumers around the world. Turner operates more than 165 channels globally. In the U.S., its networks
and related properties include TNT, TBS, Adult Swim, truTV, Turner Classic Movies, Turner Sports, Cartoon Network,
Boomerang, CNN and HLN. Outside the U.S., Turner’s broad portfolio of brands and digital businesses reaches consumers
in more than 200 countries.
Turner’s programming is distributed by cable system operators, satellite service distributors, telephone companies and
other distributors (known as affiliates) and is available to subscribers of the affiliates for viewing (i) on television and (ii) via
streaming online and on mobile devices and on demand on television through Turner’s digital properties and services
provided by affiliates. Some of Turner’s programming is also available through SVOD services. Turner has been expanding
the amount of programming available to subscribers on demand on television and digital properties to include complete
current seasons of popular programming from Turner’s portfolio of networks. As of December 31, 2014, Turner’s
programming was available on demand and for streaming to approximately 87 million U.S. television households that
subscribed to multichannel video services. Turner generates revenues principally from fees received from affiliates that
distribute Turner’s programming to subscribers, the sale of advertising on its networks and the digital properties it owns or
manages for other companies and the license of its original programming to SVOD services and its brands and characters for
consumer products.
Turner is continuing to increase its scale and strengthen its competitive position internationally through strategic regional
channel launches, partnerships and acquisitions in key territories. In addition, Turner is placing greater emphasis on creating
local programming to strengthen its brands internationally. Historically, Turner has managed its international entertainment
and kids networks separately from its domestic networks, but it is transitioning its kids businesses to a more globally
managed operation, similar to its news business.
Turner’s digital properties consist of its own websites and websites that Turner manages and/or operates for others.
Turner’s CNN digital network is a leading digital news destination, and Turner’s Bleacher Report is the number two digital
sports destination, in each case, based on the number of average monthly domestic multi-platform unique visitors for
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