Time Warner Inc. (NYSE: TWX) is the worl's second largest media and entertainment conglomerate, behind News Corporation, headquartered in New York City. Formerly three separate companies: Warner Communications, Inc. and Time Inc. before the Time-Warner merger in 1990 and America Online, Inc. before its purchase of Time Warner in 2001 has created the current Time Warner , with major operations in film, television, publishing, Internet service and telecommunications. Among its subsidiaries are AOL, New Line Cinema, Time Inc., Time Warner Cable, HBO, Turner Broadcasting System, The CW Television Network, UBU Productions, Warner Bros. Entertainment, Cartoon Network, CNN, and DC Comics.