×

No. 1: AOL Time Warner

New York

Revenue: $36.2 billion

Loss: $4.4 billion

A media behemoth forged early this year from a merger of two well-known names, AOL Time Warner shows no sign of curbing its expansion in the U.S. and overseas.

Its assets range from the Turner cable networks, Warner Bros.’ the WB network, HBO and Time Inc. to sprawling cable systems and the world’s largest Internet service provider — making it a dominant force in content and distribution. Its size has made it a conspicuous target for complaints from media watchers fearful that media assets are concentrated in ever fewer hands.

Conglom laid off 2,400 workers earlier this year and another 1,700 at AOL and Netcape recently. It also failed to meet second-quarter revenue targets in a weak ad environment. But its breadth and management makes it a Wall Street favorite. It’s been busy retooling CNN, trying to turn around sluggish Warner Music, celebrating hit factory HBO (“The Sopranos”), promoting its movies on service portal America Online and seeking other synergies to make its merger profitable. It recently bought big U.K. magazine group IPC. Chairman Steve Case and CEO Gerald Levin have prioritized international expansion.

Some say conglom’s latest gambit may well be a play for AT&T Broadband, the telco’s giant cable division that’s for sale — at the right price. AOL Time Warner certainly has the cash but could face a tough time from regulators.

Popular on Variety

More Biz

  • Beverly Hills Realtor Accused of Stealing

    Beverly Hills Realtor Accused of Stealing From Usher, Adam Lambert

    A Beverly Hills real estate agent has been arrested on charges of stealing from the homes of celebrities, including Usher, Adam Lambert and “Real Housewives” star Dorit Kemsley. Jason Emil Yaselli, 32, is accused of encouraging an accomplice, Benjamin Ackerman, to enter homes during open houses in order to steal from them. Ackerman allegedly sold [...]

  • Pod Save America Hosts on Trump

    'Pod Save America' Hosts on Trump, the Democratic Primary and What's Wrong With Cable News

    Like many Democrats, Tanya Somanader was blindsided by the 2016 presidential election. A veteran of the Obama White House and a former speechwriter and digital specialist for House Speaker Nancy Pelosi, Somanader was gearing up for a Hillary Clinton administration. Instead, she had to grapple with the reality of a Donald Trump presidency. “A lot [...]

  • Ann Sarnoff Warner Bros

    Ann Sarnoff Formally Takes Reins of Warner Bros. as CEO

    The Ann Sarnoff era at Warner Bros. has begun. Sarnoff formally took the reins as Warner Bros. chair-CEO on Thursday, two months after she was appointed to the post. Sarnoff told employees in a memo that she has been impressed by the company’s track record during the past year amid a period of upheaval for [...]

  • Former movie producer Harvey Weinstein (L)

    Harvey Weinstein to Be Arraigned on New Indictment

    Harvey Weinstein is set to appear in court on Monday for an arraignment on a new indictment, the Manhattan D.A.’s office said Thursday. Prosecutors announced last week that they would seek a fresh indictment, which would allow actress Annabella Sciorra to testify at Weinstein’s trial. The move came after Justice James Burke ruled on Aug. [...]

  • AI Technology David Beckham

    How AI Tech Is Changing Dubbing, Making Stars Like David Beckham Multilingual

    David Beckham does not speak Arabic, Hindi or Mandarin. But when the soccer legend starred in a PSA for malaria awareness this spring, he effortlessly switched among these and six other languages, thanks to cutting-edge technology that could soon change how Hollywood localizes its movies and TV shows. The PSA in question was produced with technology [...]

  • Eminem Publisher Sues Spotify, Claiming Copyright

    Eminem Publisher Sues Spotify, Claiming Massive Copyright Infringement

    Eight Mile Style, a publishing company that holds administration rights to Eminem’s early catalog, filed a major copyright infringement lawsuit against Spotify late Thursday, claiming that the streaming giant has no license to host about 250 of Eminem’s songs, while also taking aim at the Music Modernization Act, the federal law enacted last year to [...]

  • iQIYI headquarters building in Beijing

    China’s iQIYI in Talks for Indonesia Expansion

    Chinese streaming firm iQIYI is in negotiations to expand further into Southeast Asia through a venture with Indonesia’s Media Nusantara Citra. iQIYI announced its first step outside Chinese-majority territories in June, when it revealed a linkup in Malaysia with pay-TV leader Astro. It also operates in Taiwan. In April, the company said that it planned [...]

More From Our Brands

Access exclusive content