Time Warner
Headquarters:
One Time Warner Center
New York, NY 10019
Phone: 212-484-8000
Employees: 87,000
CEO: Jeff Bewkes
Stock Symbol: TWX
Website:
http://www.timewarner.com
Company News
Career Page
Time Warner is the nation's largest media
company with a major presence in TV, movies, magazines and the
Internet. The major divisions of the company include:
America Online - One of the web's best known sites with 109 million monthly visitors which includes AOL.com, Mapquest, Moviefone, ICQ, Netscape and AOL Instant Messenger. As of December 31, 2008, the AOL service had 6.9 million U.S. access subscribers, a decline of 573,000 from the prior quarter and 2.4 million from the year-ago quarter, reflecting subscriber losses due partially to AOL’s strategy to focus on its advertising business.
Time Inc.
- World's largest magazine publisher with titles including Time,
People, Sports Illustrated, Fortune, In Style, Entertainment
Weekly
Time Warner Cable - Offers cable, phone and high speed Internet (Roadrunner) to 14.6 million customers.
Home Box Office
- Leading pay-cable channels HBO and Cinemax with 40 million
subscribers and exclusive programming
New Line Cinema
- Movie studio that produced Wedding Crashers, Lord of the Rings
trilogy, Rush Hour films.
Turner Broadcasting System - Operates TNT, TBS, CNN, Court TV and Cartoon
Network cable channels
Warner Bros. - Produces movies, television shows and operates the CW Network in partnership with CBS Corp. Movies released in the past year included The Dark Knight, Sex and the City and 10,000 B.C.
In 2008, Time Warner reported revenues of $47.0 billion, a 1% increase from the previous year. Net loss for the year was $13.4 billion due to asset writedowns.
AOL announced layoffs of 10% of staff in January or 700 employees.
Time Inc. laid off 600 employees in 2008 at most magazines including Time, Sports Illustrated, Fortune, People and Entertainment Weekly.
Warner Bros. announced layoffs of 10% or 800 employees in January.
Time Warner Cable announced 1,250 layoffs in February.
History
The history of the company originates to
Briton Hadden and Henry Luce, who co-founded Time Magazine in
1923 as the first weekly newsmagazine. Luce was an influential
figure who became editor and business manager of the magazine.
He would go on to acquire Fortune magazine in 1930, Life magazine
in 1936 and launched Sports Illustrated in 1954.
Time Warner was created with the merger
of Time Inc. with Warner Communications in 1990. The company
would acquired Turner Communications in 1996 which operated cable
news channel CNN and was owned by Ted Turner.
In 2001, America Online acquired Time Warner to become the world's largest media company. The new firm was named AOL Time Warner. However, accounting scandals at AOL and the Internet crash sent shares tumbling, making the merger one of the all-time worst corporate deals.
AOL's peak membership was 26 million around
2002 and has dropped since as customers find alternative Web
services and high-speed connections. The company decided to drop
the AOL name in 2004 and become Time Warner again.
The company opened a new headquarters building
at Columbus Circle in 2004. The 2.8 million-square-foot complex
features offices, stores, restaurants and a Mandarin Oriental
hotel.
Benefits
Benefits may vary within each division.
Time Warner Savings Plan
The 401(k) plan is an important opportunity to build financial
security. After three months of service, you can contribute between
2% and 20% of your salary and defer taxes on your contributions.
After six months of service, the company matches 50¢ for
every $1 you contribute, up to the first 6% of pay you contribute.
You are 100% vested in the match after five years.
Pension benefits are payable at age 65
and reduced benefits available at 55.
Paid time off benefits are included in
the standard benefits package: vacation (two weeks for the first
year, three weeks at five years, and four weeks at ten years),
holidays (including personal days), and sick leave (up to 10
days per year).
The healthcare coverage for benefit eligible
employees and dependents consists of medical, vision and dental.
In addition, the company offers short- and long-term disability,
an employee assistance program that offers short-term personal
care for you and your family members; an adoption benefit, which
may reimburse some of the expenses related to adoption; and life
insurance coverage for you and your dependents.
Educational assistance program that reimburses
the costs of approved coursework, and a flexible spending account
which may be used for health care or day care expenses with before-tax
dollars.
Employees also receive discounted Time
Warner product and service offerings, such as cable service,
books, magazines, recordings, travel and more.
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