This is the end of Time Warner

Tom Paine


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— Peter Kafka (@pkafka) June 15, 2018

Time Warner is kaput. RIP.

The modern Time Warner was put together by a somewhat questionable character named Steve Ross, who operated parking lots. It was one of New York's glamour businesses, an iconic piece of Americana with big perks and expense accounts, and a cool headquarters building. Time Warner knew how to sell advertising.

When I was in business school, Time Warner was much admired. A strong old media standout with things going on such as HBO, cable systems, and interactive prototypes that in some ways envisioned the Internet.

But as the Internet began to materialize in the early 1990, Time Warner didn't know how to react and made several missteps, the largest being getting taken by a rather shady AOL outfit, and getting bought with stock that would quickly implode. Time Warner had more of an internet solution than AOL did. And Time Warner Cable, in later years prior to being spunoff, seemed to lag behind the rest of the cable industry.

The one smart move Time Warner made in later years was buying Turner Broadcasting.