Time Warner Inc. is one of the largest media and entertainment company in the world, headquartered in New York, USA. Here are some financials: As recent as January 2009, the company had a market capitalization (market cap) of over US$ 50 billion; revenue of over US$ 46 billion, operating income of US$ 9 billion and net income of US$ 4.4 billion.
Time Warner operates in five business segments, consisting principally of AOL, Cable, Filmed Entertainment, Networks and Publishing.

Here is a list of companies and subsidiaries under these five business segments.

AOL
Internet Services and Media. Consists of interactive consumer and advertising services.
Popular brands include AOL, ADTECH, Advertising.com, AIM, CompuServe, GameDaily.com, ICQ, Lightningcast, MapQuest, Netscape, Winamp, Xdrive,

Cable (Time Warner Cable)
Cable systems that provide video, high-speed data and voice services. One of the largest cable operators in the US.
Popular brands include Road Runner, Digital Phone, Time Warner Cable.

Filmed Entertainment (Warner Bros. Entertainment)
One of the largest producer of film and television entertainment. Consists of feature film, television and home video production and distribution
Popular brands include Warner Bros. Pictures, Warner Bros. Television, Warner Bros. Animation (Looney Tunes, Hanna-Barbera)

Networks (Turner Broadcasting and HBO)
Popular brands include HBO, CNN, Cartoon Network, Boomerang, Williams St. Studio, Adult Swim

Publishing (Time Inc.)
Popular brands include Time, Fortune, Money, People, Sports Illustrated, All You, Entertainment Weekly, Essence, Golf Magazine, In Style

Time Warner faces competition from traditional and new media companies, most notably, the News Corporation (Rupert Murdoch), CBS and Viacom (Sumner Redstone)