Warner Communications Inc. 1 was established in 1972, when Kinney National Company split off its unproductive entertainment assets due to a financial scandal over its parking operations, (such as National Kinney Corporation ) and changed its name. 2
History[]
1970[]
The new name has the good reputation of Warner Bros. The new company is run, since 1972, by Steve Ross, who is also the director.
It was the parent company of Warner Bros. Pictures and Warner Music Group . He also owned DC Comics and MAD magazine .
Warner made considerable profits with Atari, Inc. , when Nolan Bushnell sold Atari to Warner Communications for an estimated $ 28 to $ 32 million. Atari then sells to millions of computers and the Atari 2600 . At its peak, Atari is a third of Warner Communications annual revenues and is, at that time, when the US company has the highest growth rate. Subsequently, Atari will accumulate losses, until its sale in 1984 to Jack Tramiel, founder of Commodore Computers , after the fall of video games in North America in 1983. 3 However, Warner Communications maintains the electronic games division and is renamed to Atari Games . It was sold toNamco in 1985.
In 1979, Warner formed a joint venture with the American Express credit card company , in which he would be contributing $ 75 million in capital. The joint venture has two divisions: Warner Amex Cable Company , run by Gus Hauser, which was built from local cable television networks in the United States ; and Warner-Amex Satellite Entertainment (WASEC) led by the former president of the chain CBS , John A. Schneider , executive vice president, it offers cable television. These companies would own such cable channels as MTV , Nickelodeon andThe Movie Channel .
1980[]
In 1980, Warner Communications buys Franklin Mint fashion company for around $ 225 million. She is holding the company until 1985, when it was sold to American Protection Industries Inc. (API) for $ 167.5 million. 3 In 1982, Warner acquired Popular Library and CBS Publications . 4
In February 1983, Warner Communications is interested in baseball. Under the direction of Executive Vice President César P. Kimmel, the company buys for $ 10 million, 48% of the Pittsburgh Pirates . He then resells his stake in November 1984, after suffering six million dollars in losses. This leads the majority owner of the team, John W. Galbreath , to follow the example of Warner Communications.
Warner bought half of American Express in 1984, and sold the company a few years later to Viacom for $ 685 million, which changed its name to MTV Networks . Between 1984 and 1985, the company also resells Panavision and a cosmetics firm.
Warner Communications pays $ 275 million to Polygram for the purchase of Chappell Music editions. The following year, it is the recording studios Teldec ( Germany ) and The Imam ( United Kingdom ) that join the company. Warner Communications buys then Lorimar - Telepictures . This acquisition was announced on May 11, 1988, and final on January 12, 1989.
Creation of Time Warner[]
Main article: Time Warner
In 1987, the merger of Warner Communications and Time Inc. , the media group created around Time magazine , is announced, 5 but will only take place two years later. The goal is to create an American group large enough to successfully oppose the Japanese giants Sony and Matsushita .
During the summer of 1989, Paramount Communications (formerly Gulf + Western) launched a hostile purchase offer of $ 12.2 million for the acquisition of Time Inc. and stop the merger. This leads to an increase in Warner Communications' offer by $ 14.9 million in cash and shares. Replica of the Paramount for complaining to a Delaware court to block the merger. The court makes two favorable time stops, forcing Paramount to abandon its offer for time and action.
The merger becomes effective on January 10, 1990. The company resulting from the merger causes the name to be changed to Time Warner. The Warner Communications name, however, is still used for productions of Warner Bros. Records and associated brands until 2004.
The merger between Warner Communications and Time Inc. is the largest financial transaction of the 1980s, and the new group is then the world leader in the field of media and entertainment.
After the sale[]
Warner Music Group logo.
The Warner Communications name was still credited with being released from Elektra Records and its sister tags until 2004. Warner Music Group continues to use the "Circle W" logo, designed by Saul Bass in 1972, even after being split from Time Warner.
The 1972-1984 Warner logo was used as a character in Tiny Toons , along with the classic WB cartoon shield, as residents along with Gogo and the other Wackyland residents.
Warner also reuses his 1972-1984 title with the Saul Bass logo for films such as Magic Mike and Argo , with the band's update to reflect "A Time Warner Company."
Production | Distributor[]
It decided to develop and acquire Lorimar Filmography, Warner Bros. Film library, List of programs produced/distributed by Lorimar-Telepictures, Warner Home Video Rentals and [16 List of programs produced by WBTV] for $6.6 million in cash and stock
References[]
- ↑ Catalog of Copyright Entries: Third series (in English) . January 1, 1974 . Retrieved on November 6, 2016 .
- ↑ "List of corporate scandals" (in American English) . Financial Analyzes October 4, 2011 . Retrieved on March 18, 2016 .
- ↑ Jump to:a b «Time Warner: Warner Bros and Warner Communications» . ketupa.net (in American English) . Archived from the original on March 3, 2016 . Retrieved on March 18, 2016 .
- ↑ "Copyrights of Golden-Age Comics" . Golden-Age Comic book Superheroes & Villains Encyclopedia (in American English) . Retrieved on March 18, 2016 .
- ↑ Norris, Floyd (March 5, 1989). "Time Inc. and Warner to Merge, Creating Largest Media Company . " The New York Times . ISSN 0362-4331 . Retrieved on November 6, 2016 .