Time Warner Inc. operates as a media and entertainment company in the United States and internationally. The company operates in three segments: Networks, Film and TV Entertainment, and Publishing. The Networks segment provides domestic and international networks, premium pay and basic tier television programming services, and digital media properties, which primarily consist of brand-aligned Websites. Its premium pay television services consist of the multi-channel HBO and Cinemax premium pay television services. This segment provides programming to cable system operators, satellite service distributors, telephone companies, and other distributors; sells advertising; engages in the sale of DVDs and Blu-ray Discs; and domestic and international licensing of original programming to television networks. The Film and TV Entertainment segment produces and distributes feature films, television and other programming, and videogames; distributes home video products; and licenses rights to its feature films, television programming, and characters. The Publishing segment publishes magazines and books; and operates various Websites, as well as engages in marketing services and direct-marketing businesses. This segment publishes magazines on style and entertainment, lifestyle, news, and sports. The company’s brands include TNT, TBS, CNN, HBO, Cinemax, Warner Bros., New Line Cinema, People, Sports Illustrated, and Time. Time Warner Inc. has a strategic investment partnership with China Media Capital The company was founded in 1985 and is headquartered in New York, New York.