Time Warner Inc [TWX] the New York City , NY based Media Giant will report its First annual Loss in Six Years after taking an Impairment Charge – writing down the value of its Time Warner Cable , Publishing and AOL Internet Assets by $25 Billion USD for Q4 of 2008.
The company last reported an annual net loss in 2002 – when it posted a Whopping $98 Billion Loss – at the time the Biggest in US history. The loss was from the AOL Fiasco ,reflecting the declining value of AOL and the cable systems after America Online Inc. bought Time Warner Inc.
Time Warner Inc. operates as a media and entertainment company in the United States and Internationally. The Media Giant operates in five segments: AOL , Cable , Filmed Entertainment , Networks and Publishing.
The AOL segment provides Online Advertising services on both the AOL Network and third-party Internet sites. The AOL Network is a network of Web brands and free client software and services for Internet consumers. AOL operates Internet Access subscription services in the United States.
The Cable segment offers Video, High-speed Data, and voice services over its broadband cable systems to residential and commercial customers. It sells national – regional – and local advertising time to various businesses. It provides analog and digital video services – Video on Demand , HDTV high definition television services and set-top boxes equipped with DVR digital video recorders.
The Filmed Entertainment segment produces and distributes theatrical Motion Pictures , television shows and animation and other programming. It also distributes home video products – and licenses rights to its feature films , television programs and characters.
The Networks segment provides domestic and international networks and the multi-channel HBO and Cinemax pay television programming services.
The Publishing segment publishes magazines [ Time People SI ] and operates a range of Web sites [ CNN SI .com ] – as well as DM Direct Marketing and direct selling businesses. It publishes a diverse range of magazines on celebrities and lifestyle – fashion and beauty – life and home – body and soul – sports and business – news and events.