Time Magazine 2015 Annual Report Download - page 28

Videogames
Warner Bros. develops, publishes and distributes videogames, including mobile and console games. Its videogames are
based on intellectual property owned or licensed by Warner Bros. (including DC Entertainment properties, Harry Potter and
Mortal Kombat). Warner Bros. is focused on increasing its monetization of its franchises in its videogames business in the
future. In 2015, Warner Bros. released 14 videogames, including Batman: Arkham Knight, Mortal Kombat X, LEGO Jurassic
World and Mad Max and the toys-to-life videogame LEGO: Dimensions, which includes LEGO Batman and many other DC
characters among its cast of characters. In early 2016, Warner Bros. released two videogames, and it plans to release an
additional 12 videogames later in the year. Warner Bros. also licenses Warner Bros. and DC Entertainment properties for
videogames to other companies. Warner Bros.’ videogames revenues consist of revenues from the development and
distribution of the videogames of Warner Bros. and other companies.
Other Television Network Assets
The Company also holds interests in companies that operate broadcast networks.
Central European Media Enterprises Ltd.
As of December 31, 2015, Time Warner held an approximate 49.4% voting interest and an approximate 75.7% economic
interest in the equity interests of Central European Media Enterprises Ltd. (“CME”), a publicly-traded broadcasting company
that operates leading television networks in Bulgaria, Croatia, the Czech Republic, Romania, the Slovak Republic and
Slovenia. Time Warner’s investment consists of (i) common stock, (ii) convertible preferred stock that has voting rights,
(iii) convertible redeemable preferred shares that do not have voting rights and (iv) warrants to purchase common stock of
CME. Time Warner also guarantees or holds a significant portion of CME’s outstanding indebtedness and provides financing
to CME under a revolving credit facility and term loan. See “Management’s Discussion and Analysis of Results of
Operations and Financial Condition—Recent Developments” for additional information regarding Time Warner’s
guarantees, the debt held by Time Warner and the credit facility and term loan provided by Time Warner.
The CW
The CW is a 50-50 joint venture between Warner Bros. and CBS Corporation. The CW’s 2015-2016 schedule includes a
5-night, 10-hour primetime lineup of advertising-supported original programming such as The 100,America’s Next Top
Model,Arrow,Beauty and the Beast,Crazy Ex-Girlfriend,Containment,DC’s Legends of Tomorrow,The Flash,iZombie,
Jane the Virgin,The Originals,Reign,Supernatural and The Vampire Diaries, as well as a five-hour block of advertising-
supported programming on Saturday mornings. For the 2015-2016 season, Warner Bros. produced twelve series for The CW,
including four based on DC Entertainment characters. Advertising-supported full episodes of The CW’s original series are
also available on cwtv.com. Some of The CW’s programming is available for streaming through SVOD services. The CW
also operates CW Seed, a digital-only platform for original and acquired comedy series that is available for streaming online
and on mobile devices.
AVAILABLE INFORMATION AND WEBSITE
The Company’s annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and any
amendments to such reports filed with or furnished to the Securities and Exchange Commission (the “SEC”) pursuant to
Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), are available free of charge
on the Company’s website at www.timewarner.com as soon as reasonably practicable after such reports are electronically
filed with or furnished to the SEC. The Company is providing the address to its website solely for the information of
investors. The Company does not intend the address to be an active link or to incorporate any information included on or
accessible through its website into this 2015 Annual Report to Shareholders.
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