AT&T recently revealed its plans to buy Time Warner Inc, the New York based entertainment business that owns production companies like Warner Brothers, HBO, and Turner broadcasting. Time Warner Inc also owns Cartoon Network, Turner Classic movies, and Adult Swim, among many other cable channels. However, many media reports hinted that AT&T was looking to acquire TWC.
Time Warner Cable is a different company that is also based in New York. This company brings your favorite shows to your television sets via a cable connection and offers internet and home phone services to the users. If AT&T wished to buy Time Warner Cable (TWC), they would talk with the new owner of TWC, Charter Communications, as Charter acquired Time Warner Cable back in May.
However, it is to be noted that both the Time Warner companies used to be one earlier. Time Warner Inc, the company that AT&T is planning to buy, owned TWC until 2009 March. After that, the cable business was made a separate publicly traded company. The name Time Warner was kept in the name of the cable company, and since then, there have been toe Time Warners.
In their hurry to report the merger talks of AT&T and Time Warner, media outlets tripped over the twin Time Warner twist. Previously, Wall Street Journal had reported that Apple Inc was interested in Time Warner well before AT&T tried making a deal with them. However, the story reported by WSJ triggered a mistaken identity report that discussed about Time Warner Cable. Even when the writers did things right, the images and visuals caused confusions among the readers.
The Bakersfield, ABC affiliate also named the wrong Time Warner in their headline and used the image of Time Warner Cable while sending out the news. It is true that the news of AT&T acquiring Time Warner has led to much confusion, but now the clouds have parted and the truth has came into vision; AT&T is not buying Time Warner Cable, but would be buying Time Warner Inc.