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In contrast to Ross ’ s flashiness, Warner Communications maintained some of the most conservative business practices in the media industry. Chief Financial Officer Bert Wasserman maintained tight control over Warner ’ s books.
Warner Communications was a major American media and entertainment conglomerate, known for its involvement in film, television, and music. The company played a crucial role in the evolution of vertical integration within the entertainment industry by merging various aspects of production, distribution, and exhibition.
Apr 10, 1994 · With the Warner studio as his new centerpiece, Ross promptly changed the name of the corporation from Kinney Service to Warner Communications and moved into fancy Rockefeller Center...
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Warner Communications Inc. was an American media conglomerate company, which was established in February 1972 when Kinney National Company spun off its non-entertainment assets due to a financial scandal over its parking operations (as National Kinney Corporation) and changed its name.
On February 10, 1972, Kinney Services, Inc. was incorporated and renamed as Warner Communications, Inc. Former Kinney assets including Warner Bros. Pictures, Warner Music Group, DC Comics and Mad magazine were entered to this company. Warner made (and later lost) considerable profits with Atari, Inc., which it owned from 1976 to 1984.
In 1979, Warner formed a joint venture with credit card company American Express, Warner-Amex Satellite Entertainment, which owned such cable channels as MTV, Nickelodeon]], and The Movie Channel. Warner bought out American Express's half in 1984, and sold the venture a year later to Viacom, which renamed it MTV Networks.
In 1982, Warner purchased Popular Library from CBS Publications.
In the mid to late 1980s Warner began to face financial difficulties. Taking advantage of Warner’s financial situation Time Inc. announced plans to merge with Warner Communications in March. Just under two months before the merger was publicly announced, Warner purchased Lorimar-Telepictures. In early 1990, the combined companies were named Time Warner.
1."List of corporate scandals". Financial Analyses (4 October 2011). Retrieved on 30 August 2015.
2."Copyrights of Golden-Age Comics". Retrieved on 20 September 2011.
•Kinney National Company
•Kinney Parking Company
•National Kinney Corporation
•Warner Bros.-Seven Arts
However, in the face of adversity and losses, Jack Warner trusted his business skills and knew the business had the potential to transform into a global empire. Therefore, instead of selling, he strategized a way to keep the company within the family.
Jan 8, 1984 · The video game and consumer electronics company had helped lift Warner's sales from $775 million in 1976 to nearly $4 billion in just over five years. But last winter, miscalculations about the...
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Sep 1, 2012 · In 1934, America and the American people were largely ignoring Hitler’s growing threat. Yet, Warner Bros. Inc. ceased business with Germany in protest that year. This was huge. About half of Warner Bros. business was abroad and Germany was their biggest market.
