The largest media conglomerate in the world, Time Warner resulted from the merger of the publisher Time Inc. and the media company Turner Broadcasting Systems, Inc. in 1996. Time Inc. founded in 1922 primarily concentrated on magazines and books and in the 1950s moved into the broadcasting and entertainment industry, but in the 1970s announced that it was selling its broadcasting holdings and concentrating on cable television. In 1989 Time Inc. merged with Warner Communications Inc., which besides being a major motion-picture and television studio, was also one of the biggest U.S. music recordings producers and cable-television operators.
In January 2000 Time Warner merged with AOL (America Online) in a US$ 243.3 billion deal. Although AOL so far generated far less profit and turnover than Time Warner its quotation on the stock exchange was clearly higher, making Time Warner the junior partner (45 percent) in the new company. Through its merger with AOL, which is a major player in the online-business and owns several Internet-services like Compuserve, Netscape and Netcenter, the new media conglomerate could significantly enlarge its online presence and also complement its traditional media activities.
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With the introduction of the printing press into England in 1476 printing was made easier and faster and made copies less expensive. By the early 16th century two trades dominated the industry: independent printers and booksellers or stationers many of whom were vertically integrated as printers. At the time, the Crown was concerned about sedition and the Church about heresy. In 1557 by royal charter the Stationers' Company of London was created and exclusive rights granted. Approved printers were given the right to copy approved works. Accordingly the roots of copyright were censorship.
The Statute of Queen Ann, the first formal copyright law, was passed in 1710. Copyright was then conferred on the author of a work, but still the owner of copyright was nearly always the bookseller. Only in 1775 the House of Lords replaced the common law of printing rights in favor of the author.
In this tradition the underlying concept of copyright is monopoly, first granted to printers, then to booksellers and later to individual creators. Copyright is treated as a commodity to be bought and sold and inspired by a need to protect the public from the power of the artist.
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The firm began in Germany in 1835, when Carl Bertelsmann founded a religious print shop and publishing establishment in the Westphalian town of Gütersloh. The house remained family-owned and grew steadily for the next century, gradually adding literature, popular fiction, and theology to its title list. Bertelsmann was shut down by the Nazis in 1943, and its physical plant was virtually destroyed by Allied bombing in 1945. The quick growth of the Bertelsmann empire after World War II was fueled by the establishment of global networks of book clubs (from 1950) and music circles (1958). By 1998 Bertelsmann AG comprised more than 300 companies concentrated on various aspects of media. During fiscal year 1997-98, Bertelsmann earned more than US$15 billion in revenue and employed 58.000 people, of whom 24.000 worked in Germany.