Time Warner was a major American media and entertainment conglomerate, formed in 1990 through the merger of Time Inc. and Warner Communications. The company was known for its diverse portfolio, which included film, television, and publishing assets, with popular brands like Warner Bros. and HBO. In 2016, Time Warner was acquired by AT&T, a telecommunications giant, for approximately $85 billion. This acquisition aimed to combine content creation with distribution, allowing for new opportunities in the evolving media landscape. The company was later rebranded as WarnerMedia before being spun off in 2022.