Time Warner is the world's second largest entertainment conglomerate in terms of revenue , as well as the world's largest media conglomerate, headquartered in the Time Warner Center in New York City. Formerly two separate companies, Warner Communications, Inc. and Time Inc., form the current Time Warner, with major operations in film, television and publishing. Among its subsidiaries are New Line Cinema, Time Inc., HBO, Turner Broadcasting System, The CW Television Network, TheWB.com, Warner Bros, Kids' WB, The CW4Kids, Cartoon Network, Boomerang, Adult Swim, CNN, DC Comics, Warner Bros.... Games, Castle Rock Entertainment, New Line Television, Picturehouse, Warner Premiere and Warner Independent Pictures. In 1972, Kinney National Company spun off its non-entertainment assets due to a financial scandal over its parking operations and renamed itself Warner Communications Inc. It was the parent company for Warner Bros. Pictures and Warner Music Group during the 1970s and 1980s.
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