Warner Media, LLC ( doing business as WarnerMedia ) was an American multinational mass media and entertainment conglomerate owned by AT&T . It was headquartered at the 30 Hudson Yards complex in New York City .
111-911: JCP may refer to: Businesses [ edit ] J. C. Penney , an American department store chain (founded 1902) Jim Crockett Promotions , an American wrestling company (founded 1931) Government and politics [ edit ] Jobcentre Plus , United Kingdom (formed 2002) Joint Combat Pistol , an American arms program (2005–2006) Japanese Communist Party (founded 1922) Jordanian Communist Party (founded 1948) Judicial corporal punishment Justice and Construction Party , Libya (founded 2012) Portuguese Communist Youth ( Juventude Comunista Portuguesa ; founded 1979) Periodicals [ edit ] Journal of Chemical Physics (from 1933) Journal of Computational Physics (from 1966) Journal of Consumer Psychology (from 1992) Places [ edit ] Jenny Craig Pavilion ,
222-518: A $ 12.2 billion hostile bid to acquire Time Inc. in an attempt to end a stock-swap merger deal between Time Inc. and Warner Communications. Time Inc. raised its bid to $ 14.9 billion in cash and stock. Paramount responded by filing a lawsuit in a Delaware court to block the Time Warner merger. The court ruled twice in favor of Time Inc., forcing Paramount to drop both the Time Inc. acquisition and
333-456: A 26% stake in the entertainment portion of the company, calling that division Time Warner Entertainment. US West's stake eventually passed to acquired cable company MediaOne , then to AT&T Broadband in 1999 when that company acquired MediaOne, then finally to Comcast in 2001 when that company bought the AT&;T Broadband division. Comcast sold their stake in the company in 2003, relegating
444-418: A University of San Diego arena, California, US (opened 2000) Jones College Prep High School , Chicago, Illinois, US (opened 1938) Other uses [ edit ] Java Community Process , for programming standards Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title JCP . If an internal link led you here, you may wish to change
555-488: A board meeting prompted Steve Case to contact each of the directors and push for CEO Gerald Levin's ouster. Although Case's coup attempt was rebuffed by Parsons and several other directors, Levin became frustrated with being unable to "regain the rhythm" at the combined company and handed in his resignation in the fall of 2001, effective in May 2002. Although Co-COO Bob Pittman was the strongest supporter of Levin and largely seen as
666-608: A brief filed by the Justice Department, it was argued that the decision to approve the acquisition ran "contrary to fundamental economic logic and the evidence". On August 7, 2018, AT&T acquired the remaining controlling stake in Otter Media from the Chernin Group for an undisclosed amount. The company operated as a division of WarnerMedia. On August 29, 2018, Makan Delrahim told Recode that if
777-464: A government official the following day, with the latter criticizing the reports as being an effort to politicize the deal. Stephenson also disputed the relevance of CNN to the antitrust concerns surrounding the acquisition, as AT&T did not already own a national news channel. On November 20, 2017, the Department of Justice filed an antitrust lawsuit over the acquisition; Delrahim stated that
888-563: A joint venture with credit card company American Express called Warner-Amex Satellite Entertainment . This company owned such cable channels as MTV , Nickelodeon , The Movie Channel , and VH1 (which was launched in 1985 on the channel space left by Turner 's Cable Music Channel ). Warner bought out American Express's half in 1984 and sold the venture a year later to the original iteration of Viacom , which renamed it MTV Networks (now known as Paramount Media Networks). In 1982, Warner purchased Popular Library from CBS Publications . By
999-494: A major corporate revamp that resulted in TBS, TNT and TruTV being brought back under the same umbrella as Cartoon Network/Adult Swim, Boomerang and TCM, under a consolidation of WarnerMedia Entertainment and Warner Bros. Entertainment's respective assets that formed the combined WarnerMedia Studios & Networks Group unit. Casey Bloys—who has been with WarnerMedia since 2004 (as director of development at HBO Independent Productions), and
1110-425: A majority interest in the promotion to Turner Broadcasting System (which was acquired by Time Warner in 1996, later became WarnerMedia from 2018–2022, now known as Warner Bros. Discovery ), resulting in the creation of World Championship Wrestling (WCW) in 1988. In 2022, Jim Crockett Promotions Inc. was restarted by Jim Crockett's son and Jim Crockett Jr's brother, David Crockett . Jim Crockett (1909–1973)
1221-504: A meeting between AT&T CEO Randall L. Stephenson and Makan Delrahim , assistant Attorney General of the Department of Justice's Antitrust Division , indicated that AT&T had been recommended to divest DirecTV or Turner Broadcasting, seek alternative antitrust remedies, or abandon the acquisition. Some news outlets reported that AT&T had been ordered to specifically divest CNN, but these claims were denied by both Stephenson and
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#17327719499411332-618: A merger structure in which each original company merged into a newly created entity. The Federal Trade Commission (FTC) cleared the deal on December 14, 2000, and gave final approval on January 11, 2001; the company completed the merger later that day. The deal was approved on the same day by the Federal Communications Commission (FCC), and had already been cleared by the European Commission (EC) on October 11, 2000. AOL Time Warner Inc. , as
1443-485: A movie review aggregator. In June 2012, Time Warner acquired Alloy Entertainment , a publisher and television studio whose works are aimed at teen girls and young women. On August 6, 2012, Time Warner acquired Bleacher Report , a sports news website. The property was placed under the control of the Turner Sports division. On March 6, 2013, Time Warner intended to spin off its publishing division Time Inc. as
1554-468: A new publicly traded company, Warner Bros. Discovery . The deal closed on April 8, 2022. The company's previous assets included Time Inc., TW Telecom , AOL , Time Warner Cable , AOL Time Warner Book Group , and Warner Music Group ; these operations were either sold to others or spun off as independent companies. The company was ranked No. 98 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. On February 10, 1972,
1665-528: A number of its co-owners (including Barnett and brothers Jack and Jerry Brisco ), thus gaining control of GCW's flagship Saturday night time slot on TBS. This tactic—co-opting the time slots of rival territories in their own "backyard"/local TV markets—was part of the WWF's national expansion strategy. To McMahon's surprise, however, the move backfired with TBS. When the WWF aired its first show on TBS on July 14, replacing World Championship Wrestling , viewer backlash
1776-448: A partnership, had also withdrawn from the NWA. JCP also began to run shows in new markets from coast-to-coast (often in less-than-sold-out arenas), greatly increasing travel costs and other overhead. JCP's first pay-per-view endeavor, 1987's Starrcade , was scheduled in its traditional Thanksgiving slot, but ran into unexpected competition from the WWF's inaugural Survivor Series PPV, which
1887-525: A result of planned cost cutting programs, the sale of Warner Bros. Interactive Entertainment was proposed, but ultimately abandoned due to COVID-19 related growth in the Gaming industry, as well as a positive reception to upcoming DC Comics , Lego Star Wars , and Harry Potter titles from fans and critics. Crunchyroll was sold to Sony 's Funimation for US$ 1.175 billion in December 2020, with
1998-535: A secondary company out of Knoxville, Tennessee . The promotion featured such stars as Mulligan; his son Barry Windham (then billed as Blackjack Mulligan Jr.); Kevin Sullivan ; Wayne Ferris ; The Mongolian Stomper ; Terry Taylor ; Tim Horner , and others. The enterprise lasted less than one year, however. By the 1980s, American professional wrestling was undergoing seismic and rapid change. The old, NWA-sanctioned system of separate, regional "territory" promotions
2109-584: A separate, publicly traded company. The transaction was completed on June 6, 2014. In January 2014, Time Warner, Related Companies , and Oxford Properties Group announced that the then Time Warner intended to relocate the company's corporate headquarters and its New York City-based employees to 30 Hudson Yards in the Hudson Yards neighborhood in Chelsea, Manhattan , and has accordingly made an initial financial commitment. Time Warner sold its stake in
2220-455: A single supercard in 1985 and expanding to the full tour in 1986. By 1987, Crockett was elected to a third term as NWA President, and gained control (either through purchase or working agreements) of the St. Louis Wrestling Club , Heart of America Sports Attractions ( Bob Geigel 's Central States brand), Championship Wrestling from Florida , and Bill Watts 's Mid-South Sports (which operated under
2331-506: A singular umbrella unit on August 10, 2020, through a consolidation of the WarnerMedia Entertainment and Warner Bros. Entertainment assets into a new unit, WarnerMedia Studios & Networks Group. On May 17, 2021, nearly three years after the acquisition, AT&T decided to leave the entertainment business by announcing that it had proposed to sell its ownership of WarnerMedia in a merger with Discovery, Inc. to form
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#17327719499412442-403: A smaller company made up of Turner Broadcasting, Warner Bros. and HBO. On February 28, 2008, co-chairmen and co-CEOs of New Line Cinema Bob Shaye and Michael Lynne resigned from the 40-year-old movie studio in response to Jeffrey Bewkes' demand for cost-cutting measures at the studio, which he intended to dissolve into Warner Bros. In 2009, Time Warner spun out its Time Warner Cable division (it
2553-451: A television production company, for £100 million. Its distribution operation, Outright Distribution, was folded into Warner Bros. International Television Production. On August 26, 2010, Time Warner acquired Chilevisión . WarnerMedia already operated in the country with CNN Chile . In May 2011, Warner Bros. Home Entertainment Group acquired Flixster , a movie discovery application company. The acquisition also includes Rotten Tomatoes ,
2664-678: Is a family-owned professional wrestling promotion headquartered in Charlotte, North Carolina , United States. Founded in 1931, the promotion emerged as a cornerstone of the National Wrestling Alliance (NWA). By the 1980s, Jim Crockett Promotions was, along with the World Wrestling Federation (WWF, now WWE), one of the two largest promotions in the United States. The Crockett family sold
2775-654: Is now part of Charter Communications), and later AOL, as independent companies; AOL was later purchased by Verizon in 2015. In the first quarter of 2010, Time Warner purchased additional interests in HBO Latin America Group for $ 217 million, which resulted HBO owning 80% of the equity interests of HBO LAG. In 2010, HBO purchased the remainder of its partners' interests in HBO Europe (formerly HBO Central Europe) for $ 136 million, net of cash acquired. In August 2010, Time Warner agreed to acquire Shed Media,
2886-536: Is responsible for sales and distribution), while Turner gained access to Warner Bros.' post-1950 library, as well as other Warner Bros.-owned properties. The Turner deal also brought two separate film companies, New Line Cinema and Castle Rock Entertainment , both of which were integrated into Warner Bros. The Turner deal also gave Time Warner Entertainment access to Metro-Goldwyn-Mayer (MGM)'s pre-May 1986 library. Time Warner Entertainment completed its purchase of Six Flags Theme Parks in 1993 after buying half of
2997-548: The AT&;T SportsNet regional networks led by CNN president Jeff Zucker . Cartoon Network, Adult Swim, Boomerang, their respective production studios, as well as Turner Classic Movies and Otter Media would be moved directly under Warner Bros. Gerhard Zeiler moved from being president of Turner International to chief revenue officer of WarnerMedia, and would oversee the consolidated advertising and affiliation sales. David Levy and HBO chief Richard Plepler stepped down as part of
3108-593: The Columbus Circle building for $ 1.3 billion to Related and two wealth funds. The move would be completed in 2019. In June 2014, Rupert Murdoch made a bid for Time Warner at $ 85 per share in stock and cash ($ 80 billion total) which Time Warner's board of directors turned down in July. Time Warner's CNN unit would have been sold to ease antitrust issues of the purchase. On August 5, 2014, Murdoch withdrew his offer to purchase Time Warner. On October 20, 2016, it
3219-500: The HBO Max streaming service). Despite spinning off Time Inc. in 2014, the company retained the Time Warner name until 2018, when the company was renamed WarnerMedia after it was acquired by AT&T. On October 22, 2016, AT&T officially announced that they intended on acquiring Time Warner for $ 85.4 billion (or $ 108.7 billion when including assumed Time Warner debt), valuing the company at $ 107.50 per share. The proposed merger
3330-696: The Jim Barnett -controlled company would go national itself; GCW acquiesced to the World Championship Wrestling name change in 1982. Meanwhile, by 1983, JCP went from recording its weekly shows in a television studio to shooting on-location, in between matches at live arena events. After purchasing a mobile television production unit for $ 1 million, Crockett unveiled what became the NWA's dominant annual supercard, Starrcade . In 1984, McMahon's WWF purchased controlling interest in GCW from
3441-606: The NWA World Heavyweight Championship during his presidency; by this point, JCP's top contracted performer, Ric Flair , was locked-in as the champion. Moreover, even though Flair was obligated to perform title-defense matches in each territory against the territory's own chosen star/challenger, any title changes only occurred between other performers also contracted to Crockett, such as Dusty Rhodes and Ron Garvin . Crockett's rapid expansion had significant financial consequences for JCP. By December,
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3552-549: The National Wrestling Alliance (NWA). Crockett joined the National Wrestling Alliance (NWA) in 1952, and his "territory" covered Virginia , North Carolina and South Carolina . The name "Mid-Atlantic Championship Wrestling" became JCP's primary brand name in print, radio, and other advertising (the name was also used for its main television programs). The business was incorporated in the 1950s. Jim Crockett died in 1973. He left JCP to his family, with his eldest son, Jim Crockett, Jr. , taking over as chief executive. Led by
3663-626: The Southeast eventually suffered, as some local fans vindictively withheld their support. Booking decisions also factored into the promotion's downfall. JCP flushed away a potentially profitable angle following the acquisition of Bill Watts 's UWF by " burying " the UWF's talent. Instead of portraying them as competitive with JCP wrestlers, the UWF's wrestlers and championships were portrayed as second-rate compared to those of JCP. Meanwhile, mid-carder Ron Garvin beat perennial champion Ric Flair for
3774-980: The 1980s, Crockett, Jr. began consolidating the Southern member promotions of the National Wrestling Alliance. Discarding the Mid-Atlantic Championship Wrestling brand, he began promoting his events simply as NWA shows, although his promotion remained distinct from the larger NWA entity. In August 1980, Crockett, Jr. was elected president of the NWA, and the next year (the same year Crockett moved his TV show tapings from Raleigh to Charlotte), former (and future) Georgia Championship Wrestling (GCW) booker Ole Anderson took over as Mid-Atlantic's booker. In 1981, Anderson booked both JCP and GCW simultaneously. In 1982, Crockett partnered with wrestlers Ric Flair and Blackjack Mulligan to start Southern Championship Wrestling,
3885-481: The AOL division dropped significantly, not unlike the market valuation of similar independent internet companies that drastically fell, and forced a goodwill write-off , causing AOL Time Warner to report a loss of $ 99 billion in 2002 — at the time, the largest loss ever reported by a company. The total value of AOL stock subsequently went from $ 226 billion to about $ 20 billion. An outburst by Vice-Chairman Ted Turner at
3996-420: The AOL division for failing to meet expectations and dragging down the combined company. AOL Time Warner COO Pittman, who expected to have the divisions working closely towards convergence instead found heavy resistance from many division executives, who also criticized Pittman for adhering to optimistic growth targets for AOL Time Warner that were never met. Some of the attacks on Pittman were reported to come from
4107-469: The Department of Justice provided insufficient evidence that the proposed transaction would result in lessened competition. He also warned the government that attempting to obtain an appeal or stay on the ruling would be manifest unjust, as it would cause "certain irreparable harm to the defendants". On June 14, 2018, AT&T announced that it had closed the acquisition of Time Warner. Jeff Bewkes stepped down as CEO of Time Warner while retaining ties with
4218-549: The Mid-South Wrestling, and later, upon expansion, Universal Wrestling Federation brand names). Despite Crockett now having six consolidated territories under his banner and leading the NWA, JCP and the NWA were still two separate entities, and Crockett—like all NWA promoters before and since—was simply licensing the NWA brand name, whose true value was as a credibility-infusing, fan-trusted brand name for wrestling championships. Still, Crockett had an iron-clad grip on
4329-399: The NWA world title. Although Garvin was booked to be a babyface, many fans did not find him credible enough to be a serious threat to Flair. JCP apparently neglected to monitor its own lavish spending as well. Crockett flew himself and his top performers around in an expensive private jet. In addition to the expense of Crockett's personal jet, there were other extravagant purchases such as
4440-616: The Saturday evening WWF show, and viewers clamoring for GCW's return, began to make the WWF's move a money-losing one. Eventually, McMahon cut his losses and sold the time slot to Crockett for $ 1 million. Although this gave Crockett vital national exposure, it also allowed McMahon to finance his own marquee wrestling event, WrestleMania . This chain of events was critical in Turner's eventual decision to purchase JCP and form World Championship Wrestling (WCW) in 1988. An extra sense of urgency
4551-513: The Time Warner board on October 31, 2005. Jeff Bewkes , who eventually became CEO of Time Warner in 2008, described the 2001 merger with AOL as 'the biggest mistake in corporate history'. In 2005, Time Warner was among 53 entities that contributed the maximum of $ 250,000 to the second inauguration of President George W. Bush . On December 27, 2007, newly installed Time Warner CEO Jeffrey Bewkes discussed possible plans to spin off Time Warner Cable and sell off AOL and Time Inc. This would leave
JCP - Misplaced Pages Continue
4662-491: The Turner Broadcasting System. Its assets were dispersed across two new camps, WarnerMedia Entertainment and WarnerMedia News & Sports. WarnerMedia Entertainment would consist of HBO, TBS, TNT, TruTV, and the direct-to-consumer video service HBO Max. WarnerMedia News & Sports would have CNN Worldwide, Turner Sports (later known briefly as Warner Bros. Discovery Sports, and TNT Sports from 2023), and
4773-579: The U.S. trademarks of Jim Crockett Promotions to David Crockett on August 1, 2022, after the conclusion of the Starrcast weekend. WarnerMedia It was established as Time Warner in 1990, following a merger between Time Inc. and Warner Communications. The company had film, television and cable operations. Its assets included WarnerMedia Studios & Networks (which consisted of the entertainment assets of Turner Broadcasting , HBO , and Cinemax as well as Warner Bros. , which itself consisted of
4884-763: The WWF buyout of the Toronto territory occurred, as well as after the airing of the WWF program The War to Settle the Score on MTV to high ratings. Together with the Minneapolis -based American Wrestling Association (AWA), Championship Wrestling from Georgia, and Memphis -based Jarrett Promotions, JCP created Pro Wrestling USA . However, the organization fell apart in January 1986. Crockett bought out Ole Anderson's Championship Wrestling from Georgia, on April 6, 1985, and
4995-454: The WWF was the uncontested #1 PPV content provider in America at the time, only a handful of companies committed to air Starrcade, devastating the event's profitability. After the cable industry warned McMahon to never again attempt such a move, Crockett felt it safe to restart his PPV attempts, and scheduled Bunkhouse Stampede in January 1988. However, the WWF again sabotaged JCP by airing
5106-505: The WWF's success, McMahon was financially able to lure the top talent away from rival companies. Because of this, JCP offered many of its stars lucrative contracts - paying them beyond their actual value - to prevent them from leaving the company. Another factor was the fans' exasperation with the " Dusty Finish " (a type of " screwjob " finish named after Rhodes, who did not actually invent the concept, but used it frequently for matches at regular house shows and PPV/major cards, alike). Due to
5217-572: The WWF, as WrestleMania IV's buy rate was much lower than that of the previous year's Survivor Series. However, Clash of the Champions was now the only thing Crockett could use to keep the NWA alive, though it was not even as highly watched as the WWF's Saturday Night's Main Event . On the verge of bankruptcy, Crockett sold Jim Crockett Promotions to Ted Turner in November 1988, and the promotion
5328-480: The acquisition closing in August 2021. On December 21, 2020, WarnerMedia acquired You.i TV, an Ottawa , Ontario -based developer of tools for building cross-platform video streaming apps. The company's products have been the basis of various WarnerMedia streaming platforms, including AT&T TV Now and the Turner channels' apps, and would be used as part of international expansion of HBO Max. On May 16, 2021, it
5439-731: The broadcast to several local TV stations throughout the Carolinas and Virginia. In 1981, JCP moved to the WPCQ-TV studios in Charlotte (a station once owned by Ted Turner ). The local shows hosted by announcers like Billy "Big Bill" Ward (from WBTV in Charlotte) and Charlie Harville (at WGHP in High Point) gave way to Mid-Atlantic Championship Wrestling (known briefly in 1978 as Mid-Atlantic Championship Sports ). Mid-Atlantic
5550-618: The case. On October 10, 2018, WarnerMedia announced that it would launch an over-the-top streaming service in late 2019, featuring content from its entertainment brands. On December 14, 2018, Kevin Reilly, president of TNT and TBS, was promoted to chief content officer of all WarnerMedia digital and subscription activities, including HBO Max, reporting to both Turner's president David Levy and WarnerMedia's CEO John Stankey. The U.S. Court of Appeals in Washington D.C. unanimously upheld
5661-507: The chief financial officer. According to AOL President and COO Bob Pittman, the slow-moving Time Warner Entertainment would now take off at Internet speed, accelerated by AOL: "All you need to do is put a catalyst to [Time Warner Entertainment], and in a short period, you can alter the growth rate. The growth rate will be like an Internet company." The vision for Time Warner Entertainment's future seemed clear and straightforward; by tapping into AOL, Time Warner Entertainment would reach deep into
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#17327719499415772-475: The co-head of a new strategy committee of the board, making speeches to divisions on synergism and the promise of the Internet. However, under pressure from institutional investor vice-president Gordon Crawford who lined up dissenters, Case stated in January 2003 that he would not stand for re-election as executive chairman in the upcoming annual meeting, making CEO Richard Parsons the chairman-elect. In July 2003,
5883-516: The company as senior advisor of AT&T. John Stankey , who headed the AT&T/Time Warner integration team, took over as CEO. On the next day, AT&T renamed the company as WarnerMedia (legally Warner Media, LLC). On July 12, 2018, the Department of Justice filed a notice of appeal with the D.C. Circuit to reverse the District Court's approval. Although the Department of Justice reportedly contemplated requesting an injunction to stop
5994-499: The company dropped the "AOL" from its name, and spun off Time-Life 's ownership under the legal name Direct Holdings Americas, Inc. On November 24, 2003, Time Warner announced they would sell the Warner Music Group , which hosted a variety of acts such as Madonna and Prince , to an investor group led by Edgar Bronfman Jr. and Thomas H. Lee Partners , in order to cut its debt down to US $ 20 billion. Case resigned from
6105-528: The company had bought-out the rival UWF; Crockett even moved many of his administrative employees from his Charlotte base to the UWF's former offices in Dallas. Jim Crockett, Jr. and Dusty Rhodes personally manned the Dallas office, leaving Jim Jr.'s brother David Crockett in charge of the Charlotte operations. Bob Geigel, a former NWA President who bought his promotion back from Crockett in Febrtuary 1987 through
6216-449: The company in 1991, saving it from financial trouble. The company was later sold to Oklahoma-based theme park operator Premier Parks under certain terms and conditions on April 1, 1998. Dick Parsons, already a director on the board since 1991, was hired as Time Warner Entertainment president in 1995, although the division operational heads continued to report directly to chairman and CEO Gerald Levin . In 1991, HBO and Cinemax became
6327-526: The company was then called, was supposed to be a merger of equals with top executives from both sides. Gerald Levin , who had served as chairman and CEO of Time Warner Entertainment, was CEO of the new company. AOL co-founder Steve Case served as Executive Chairman of the board of directors, Robert W. Pittman (president and COO of AOL) and Dick Parsons (president of Time Warner) served as Co-Chief Operating Officers, and J. Michael Kelly (the CFO from AOL) became
6438-450: The deal from closing after the District Court's ruling, the department ultimately did not file the motion because WarnerMedia's operation as a separate group from the rest of AT&T would make the business relatively easy to unwind should the appeal be successful. The next day, however, AT&T CEO Randall Stephenson told CNBC that the appeal would not affect its plans to integrate WarnerMedia into AT&T, or services already launched. In
6549-449: The deal would "greatly harm American consumers". AT&T asserted that this suit was a "radical and inexplicable departure from decades of antitrust precedent". On December 22, 2017, the merger agreement deadline was extended to June 21, 2018, under a vote of confidence. On June 12, 2018, District Judge Richard J. Leon ruled in favor of AT&T, thus allowing the acquisition to go ahead with no conditions or remedies. Leon argued that
6660-588: The deal, leaving the review to the Department of Justice (DOJ). On March 15, 2017, the merger was approved by the European Commission (EC). On August 22, 2017, the merger was approved by the Mexican Comisión Federal de Competencia . On September 5, 2017, the merger was approved by the Chilean Fiscalía Nacional Económica. In the wake of the U.S. presidency of Donald Trump , Time Warner's ownership of CNN
6771-550: The entertainment assets of the Kinney National Company were reincorporated as Warner Communications due to a financial scandal involving price fixing in its parking operations. Warner Communications served as the parent company for Warner Bros. Pictures , the Warner Music Group (WMG), Warner Books and Warner Cable during the 1970s and 1980s. It also owned DC Comics and Mad magazine . The European publishing division, which produced magazines and comics,
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#17327719499416882-454: The expected synergies between AOL and other Time Warner Entertainment divisions never materialized, as most Time Warner Entertainment divisions were considered independent fiefs that rarely cooperated prior to the merger. A new incentive program that granted options based on the performance of AOL Time Warner, replacing the cash bonuses for the results of their own division, caused resentment among Time Warner Entertainment division heads who blamed
6993-626: The film, animation, television studios, the company's home entertainment division and Studio Distribution Services, its joint venture with Universal Pictures Home Entertainment , DC Comics , New Line Cinema , and, together with CBS Entertainment Group , a 50% interest in The CW ); WarnerMedia News & Sports (consisted of the news and sports assets of Turner Broadcasting, including CNN , Turner Sports , and AT&T SportsNet ); WarnerMedia Sales & Distribution (consisted of digital media company Otter Media ); and WarnerMedia Direct (consisted of
7104-484: The first premium pay services to offer multiplexing to cable customers, with companion channels supplementing the main networks. In 1993, HBO became the world's first digitally transmitted television service. In 1995, CNN introduced CNN.com which later became a leading destination for global digital news, both online and mobile. In 1996, Warner Bros. spearheaded the introduction of the DVD, which gradually replaced VHS tapes as
7215-473: The first-ever Royal Rumble on the USA Network opposite Bunkhouse Stampede, cutting into its buy rate. Crockett then attempted to use McMahon's tactics against him, airing Clash of the Champions I —featuring a PPV-quality card—on TBS in an attempt to draw viewers away from WrestleMania IV on PPV, which took place that same night. This was one of the few tactics to actually work for JCP in its war with
7326-478: The government were to win the appeal, AT&T would only sell Turner and if they lost the appeal then the February 2019 expiration of a consent decree AT&T reached with the Justice Department shortly before the deal closed would allow AT&T to do what they want with Turner. The appeal was expected to have zero impact on the integration. By September 2018, nine state Attorneys General sided with AT&T on
7437-461: The heavy overuse of this end-of-match sequence, many JCP fans started to expect the swerve at any moment, whenever a popular wrestler (usually a face ) appeared to win a title match and was about to be awarded the championship belt (or any similar situation), only to have the win overturned due to a technicality. As a result, attendance at live shows began to fall — even at venues where JCP had traditionally drawn well or extremely well. By 1988, JCP
7548-427: The heir-apparent, Dick Parsons was instead chosen as CEO. Time Warner Entertainment CFO J. Michael Kelly was demoted to COO of the AOL division and replaced as CFO by Wayne Pace. AOL Chairman and CEO Barry Schuler was removed from his position and placed in charge of a new "content creation division", being replaced on an interim basis by Pittman, who was already serving as the sole COO after Parsons' promotion. Many of
7659-453: The homes of tens of millions of new customers. AOL would use Time Warner Entertainment's high-speed cable lines to deliver to its subscribers Time Warner Entertainment's branded magazines, books, music, and movies. This would have created 130 million subscription relationships. However, the growth and profitability of the AOL division stalled due to advertising and loss of market share to the growth of high-speed broadband providers. The value of
7770-568: The issues that came with expansion was a lack of investing in the kind of marketing needed to make it successful. As mentioned, major cards such as Starrcade and the Bunkhouse Stampede did not draw as well when moved out of JCP's traditional territory. According to Rhodes, JCP failed to gain the national name recognition that McMahon achieved with the World Wrestling Federation. Rhodes also pointed out that with
7881-539: The late 1970s and early 1980s, it ran regular shows in Cincinnati and Dayton, Ohio . Crockett and Scott also bought minority shares of Frank Tunney 's Toronto -based promotion, Maple Leaf Wrestling . Mid-Atlantic Championship Wrestling also aired on a Buffalo, New York station, enabling the Tunney/Crockett/Scott enterprise to bring a full slate of shows to Ontario and upstate New York . In
7992-453: The lawsuit, and allowing the two companies to merge, which was completed on January 10, 1990. US West partnered with Time Warner Entertainment in 1993 to form what was later known as TW Telecom , initially known as Time Warner Communications (also utilized as the brand name for cable operation previously under the ATC name), in order to bring telephone via fiber to the masses. US West also took
8103-427: The limousines provided for various wrestlers and regular business parties held by officials throughout JCP's regional offices. In addition, the large amount of capital needed to take a wrestling company on a national tour and Crockett's aggressive territorial acquisitions had seriously drained JCP's coffers. In purchasing the UWF, JCP also took responsibility for the UWF's large debt from TV contracts, etc. Compounding
8214-443: The link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=JCP&oldid=1219976094 " Category : Disambiguation pages Hidden categories: Articles containing Portuguese-language text Short description is different from Wikidata All article disambiguation pages All disambiguation pages Jim Crockett Promotions Jim Crockett Promotions
8325-408: The local stars could still be seen. Championship Wrestling from Georgia's television show (which had the same name as the promotion itself), along with that of Bill Watts 's Mid-South Wrestling (to whom Turner had also granted a time slot), easily surpassed the ratings for the WWF broadcast, which only featured clips and wrestler promos instead of original matches. The steep decline in ratings for
8436-410: The lower court's ruling in favor of AT&T on February 26, 2019, stating it did not believe the merger with Time Warner would have a negative impact on either consumers or competition. The Justice Department declined to appeal the decision further, thus allowing the consent decree to expire. On March 4, 2019, AT&T announced a major reorganization of its broadcasting assets to effectively break-up
8547-459: The merger, were chosen because they were considered the most successful operational executives in the conglomerate and they would report to AOL Time Warner CEO Richard Parsons. Logan, generally admired at Time Warner Entertainment and reviled by AOL for being a corporate timeserver who stressed incremental steady growth and not much of a risk-taker, moved to purge AOL of Pittman allies. AOL Time Warner Chairman Steve Case took on added prominence as
8658-465: The mid to late 1980s, Warner began to face financial difficulties. From 1976 to 1984, Warner Communications owned Atari, Inc. , but suffered substantial losses due to the video game crash of 1983 , and had to spin them off in 1984. Taking advantage of Warner Communications' financial situation, Time Inc. announced on March 4, 1989, that the two companies were to merge. During the summer of 1989, Paramount Communications (then Gulf+Western ) launched
8769-474: The name to a subdivision under Time Warner Cable. On October 10, 1996, Time Warner Entertainment acquired Turner Broadcasting System , which was established by Ted Turner in 1965. Not only did this result in the company re-entering the cable television industry as a national programmer, but Warner Bros. also regained the rights to their pre-1950 film library, which by then had been owned by Turner (the films are still technically held by Turner, but Warner Bros.
8880-441: The new company while Time Warner Entertainment shareholders owned only 45%, so in actual practice AOL had merged with Time Warner Entertainment, even though Time Warner Entertainment had far more assets and revenues. Time Warner Entertainment had been looking for a way to embrace the digital revolution, while AOL wanted to anchor its stock price with more tangible assets. The deal, officially filed on February 11, 2000, employed
8991-413: The new streaming service. On May 31, 2019, Otter Media was transferred from Warner Bros. to WarnerMedia Entertainment, and Otter's COO Andy Forssell became the executive vice president and general manager of the streaming service, while still reporting to Otter CEO Tony Goncalves — who would lead development. On July 9, 2019, it was announced that the new streaming service would be known as HBO Max , which
9102-603: The newly created media and communications group, overseeing America Online, Time, Time Warner Cable, the AOL Time Warner Book Group, and the Interactive Video unit, relegating AOL to being just another division in the conglomerate. Bewkes became chairman of the entertainment and networks group, comprising HBO, Cinemax, New Line Cinema, The WB, TNT, Turner Networks, Warner Bros., and Warner Music Group. Both Logan and Bewkes, who had initially opposed
9213-533: The print media in the Time, Inc. division under Don Logan . Furthermore, CEO Parsons' democratic style prevented Pittman from exercising authority over the "old-guard" division heads who resisted Pittman's synergy initiatives. Pittman resigned as AOL Time Warner COO after July 4, 2002, being reportedly burned out by the AOL special assignment and almost hospitalized, unhappy about the criticism from Time Warner executives, and seeing nowhere to move up in firm as Parsons
9324-584: The reorganization, which was described by The Wall Street Journal as being intended to end "fiefdoms". Turner Podcast Network, formed within Turner Content Distribution in 2017, became WarnerMedia Podcast Network by May 2019. In May 2019, Kevin Reilly signed a four-year extension of his contract with the company, which additionally made him president of TruTV (alongside the other three WarnerMedia Entertainment basic cable networks), and chief content officer of direct-to-consumer for
9435-496: The ring for one last match under Jim Crockett Promotions, Ric Flair's Last Match on July 31, 2022. Shortly after Flair's announcement, David Crockett and Conrad Thompson of the Starrcast wrestling fan convention filed for U.S. trademarks on "Jim Crockett Promotions" and "JCP" with respect to wrestling events, news, and merchandise. During a media call promoting the pay-per-view, Thompson stated he will give his 50% percent of
9546-450: The sales profits just by providing the big viewing audience delivered by pro wrestling's loyal fanbase (wrestling generally did not attract large ad revenues at that time, due to negative industry perceptions of its lower-income target demographic). SuperStation TBS's parent company, Turner Broadcasting System , had asked Georgia Championship Wrestling to change its public brand name to World Championship Wrestling , helping fuel rumors that
9657-449: The same umbrella as AT&T's telecommunication holdings, including satellite provider DirecTV . The deal faced criticism for the possibility that AT&T could use Time Warner content as leverage to discriminate against or limit access to the content by competing providers. On February 15, 2017, Time Warner shareholders approved the merger. On February 28, Federal Communications Commission (FCC) chairman Ajit Pai refused to review
9768-402: The standard format for home video in the late 1990s and early to mid-2000s. In 1999, HBO became the first national cable television network to broadcast a high–definition version of its channel. In January 2000, America Online (AOL) stated its intentions to purchase Time Warner Entertainment for $ 183 billion. Due to the larger market capitalization of AOL, their shareholders would own 55% of
9879-463: The value of professional wrestling for cable television in the early 1970s. WTCG aired Georgia Championship Wrestling's programming on Saturday evenings, and wrestling provided his then-fledgling enterprise (the future SuperStation WTBS ) a source of cheap live entertainment which was well-suited to the station's target demographics. Turner could run per inquiry advertisements (for products like Slim Whitman albums and Ginsu knives) and take part of
9990-697: The younger Crockett and under the guidance of a new creative force—former wrestler-turned-match- booker George Scott —the promotion moved away from generally featuring just tag teams , to primarily focusing on singles wrestling (although tag-team matches continued to play a big part in the company). By the early-1970s, JCP had gradually phased-out its multiple weekly television tapings in such cities as Charlotte, North Carolina , Greenville, South Carolina , and High Point, North Carolina , consolidating its production schedule into just one shoot (a Wednesday night videotaping at WRAL-TV in Raleigh ), and then syndicating
10101-890: Was a promoter of live events including professional wrestling , music concerts , plays , minor league baseball , and ice hockey . In 1931, he founded his own professional wrestling promotion , Jim Crockett Promotions. Crockett built JCP as a regional promotion centred on the Carolinas and Virginia . Although the business was always called Jim Crockett Promotions, it used a variety of pseudonyms as brand names for specific TV shows, newspaper and radio ads, and even on event tickets, themselves. Among those brand names that JCP created were "Championship Wrestling", "All Star Wrestling", "East Coast Wrestling", "Eastern States Championship Wrestling", "Mid-Atlantic Championship Wrestling", "Mid-Atlantic Championship Sports", "Wide World Wrestling", and "NWA Pro Wrestling", NWA World Wide Wrestling", and "NWA World Championship Wrestling" following its membership in
10212-506: Was added to Crockett's national expansion ambitions when, after Frank Tunney's death, his nephew and successor Jack joined forces with the WWF. Crockett would now have to either find other willing partner-promoters or buy them out if he wanted to run shows outside the Mid-Atlantic territory. This period also marked Crockett's first attempt to create a national promotion; Crockett and other wrestling companies needed this opportunity after
10323-785: Was also hosted by the team of Rich Landrum and Johnny Weaver . In 1978, JCP later added a short-lived show, The Best of NWA Wrestling , which was taped at the WCCB studios in Charlotte (across the street from the now- Bojangles' Coliseum , a regular venue for Mid-Atlantic live events) and featured then-active wrestler Johnny Weaver sitting down with top stars in a "coach's show" format (in which host and guest did running commentary over 16 millimeter film footage of matches from local arenas). Rich Landrum and David Crockett appeared on "Best Of", doing promo interviews for local arena shows. JCP gradually began to expand, running shows in eastern Tennessee, parts of West Virginia , and even Savannah, Georgia . In
10434-440: Was basically a re-packaged version of Mid-Atlantic , and it was also announced by Billy "Big Bill" Ward. In 1975, JCP premiered a new, syndicated show, Wide World Wrestling (renamed World Wide Wrestling in 1978). The original host of this show was former Georgia Championship Wrestling announcer Ed Capral. Subsequent Wide World / World Wide announcers included Les Thatcher, George and Sandy Scott , and Dr. Tom Miller. It
10545-542: Was collapsing under increasing competitive pressure from Vincent K. McMahon 's World Wrestling Federation (WWF, now WWE )—itself a family-owned territory promotion covering the northeastern U.S. — which was aggressively expanding into a nationwide promotion. Crockett had similar expansion goals, envisioning a united NWA through JCP's buyout of or merger with all of the NWA's regional promotions. Ted Turner , whose Atlanta television station WTCG would become distributed nationally via satellite starting in 1976, had realized
10656-482: Was confirmed on June 12, 2018, after AT&T won an antitrust lawsuit that the U.S. Justice Department filed in 2017 to attempt to block the acquisition, and was completed two days later, when the company became a subsidiary of AT&T. The company's final name was adopted a day later. Under AT&T, the company moved to launch a streaming service built around the company's content, known as HBO Max. WarnerMedia refolded Turner's entertainment-based networks under
10767-450: Was considered a potential source of scrutiny for the deal, as Trump had repeatedly criticized the network for how it covered his administration , and stated during his campaign that he planned to block the acquisition because of the potential impact of the resulting consolidation. Following his election, however, his transition team stated that the government planned to evaluate the deal without prejudice. On November 8, 2017, reports of
10878-478: Was eventually elevated to President of Programming at HBO and Cinemax in May 2016—added oversight of WarnerMedia's basic cable networks and HBO Max to his purview. In October 2020, it was announced that the company was planning to execute over a 1,000 job cuts in order to reduce costs. WarnerMedia plans to reduce costs by at least 20% in order to deal with the profit shortage caused by the COVID-19 pandemic . As
10989-404: Was firmly entrenched as CEO. Pittman's departure was seen as a great victory to Time Warner executives who wanted to undo the merger. In a sign of AOL's diminishing importance to the media conglomerate, Pittman's responsibilities were divided between two Time Warner Entertainment veterans; Jeffrey Bewkes who was CEO of Home Box Office, and Don Logan who had been CEO of Time. Logan became chairman of
11100-544: Was frequently referred to in the influential Pro Wrestling Illustrated and its sister publications by the WCW name or more commonly as "the World Championship area." As a result of the success World Championship Wrestling now had from acquiring the Saturday night time slots, Crockett (along with JCP booker Dusty Rhodes ) was able to establish an annual summer arena tour, " The Great American Bash " starting with
11211-420: Was hosted by Bob Caudle , (a longtime WRAL weatherman). Caudle was joined by a rotation of co-hosts (everyone from Les Thatcher all the way to Dr. Tom Miller ), before David Crockett (another son of Jim Crockett Sr.) became Bob's permanent co-host/ color commentary man (after ending a very brief career as a wrestler, himself). For a brief period, a secondary show, East Coast Wrestling , was taped at WRAL; it
11322-559: Was known as Williams Publishing ; thanks to a prior acquisition (from Gilberton World-Wide Publications ), it had European-language branches in the United Kingdom, Denmark , Finland , France , Germany , Italy , the Netherlands, Norway , and Sweden . Most of these publishers were sold off around 1979. During its time as Warner Communications, the company made several further acquisitions. In 1979, Warner formed
11433-518: Was launched on May 27, 2020. In September 2019, Stankey was promoted to AT&T president and chief operating officer. By April 1, 2020, former Hulu chief Jason Kilar took over as WarnerMedia CEO. In August 2020, the company had a significant restructuring laying off around 800 employees including around 600 from Warner and 150+ from HBO. At WarnerMedia's Atlanta base, marketing and cable operations teams were particularly affected. On August 10, 2020, WarnerMedia restructured several of its units in
11544-457: Was on the verge of bankruptcy . In November 1988, Turner Broadcasting System purchased a majority interest in JCP for $ 9 million. The Crockett family retained a minority interest, with Crockett, Jr. becoming a consultant. Turner Broadcasting System ultimately rebranded the promotion World Championship Wrestling . In 1993, JCP ceased to exist. On May 16, 2022, Ric Flair announced he would return to
11655-612: Was re-elected NWA President. This was to help counter the WWF, after it became America's dominant wrestling business in the wake of WrestleMania. Crockett then purchased both Saturday evening TBS time slots from Vince McMahon and filled the time slot with two hours of original programming filmed in Ted Turner's Atlanta studios . The programming aired under the World Championship Wrestling banner, which had been adopted by GCW before its demise. The entire company
11766-493: Was renamed the Universal Wrestling Corporation. Soon after, it was renamed again to World Championship Wrestling (WCW). The eventual downfall of JCP, leading to its eventual sale to Ted Turner (and thereby the birth of WCW) can be attributed to several key factors. Magnum T. A. — one of JCP's top babyfaces , and the performer scheduled to become NWA World Heavyweight Champion at Starrcade 1986 —
11877-477: Was reported that AT&T was in talks to acquire Time Warner. The proposed deal would give AT&T significant holdings in the media industry. AT&T's competitor Comcast had previously acquired NBCUniversal in a similar bid to increase its media holdings, in concert with its ownership of television and internet providers. On October 22, 2016, AT&T reached a deal to buy Time Warner for $ 85.4 billion. The merger would bring Time Warner's properties under
11988-449: Was reported that AT&T was in talks with Discovery, Inc. —which primarily operated television channels and platforms devoted to non-fiction and unscripted content—for it to merge with WarnerMedia, forming a publicly traded company that would be divided between its shareholders. The proposed spin-off and merger was officially announced the next day, which is to be structured as a Reverse Morris Trust . AT&T shareholders would receive
12099-418: Was scheduled to air the same night. Not wanting to possibly lose to the WWF in a direct PPV competition, Crockett decided to move Starrcade's starting time to Thanksgiving afternoon instead of the evening. However, the WWF then threatened cable companies that if they chose to air Starrcade, they would not be offered future WWF PPVs, including that year's Survivor Series and the forthcoming WrestleMania IV . Since
12210-530: Was severe, as the show's Southern fans were incensed to see their beloved stars suddenly replaced—without advance notice—by an "invading force" of wrestlers from "up North", an event that has since become known in pro wrestling lore as Black Saturday . In response to the ensuing deluge of complaints, TBS granted an upstart promotion called Championship Wrestling from Georgia (backed by holdout GCW shareholder and NWA member Fred Ward and former GCW wrestler/booker Ole Anderson) an early Saturday morning time slot so that
12321-721: Was severely injured in a car accident over two months before Starrcade (October 14), and could never wrestle again. So, JCP turned major "heel" Nikita Koloff , into a face on October 25, to take Magnum T. A.'s place while still being able to have a profitable build-up to Starrcade's main event. JCP alienated loyal fans in the Carolinas by moving Starrcade '87 and the Bunkhouse Stampede to arenas in Chicago and New York City, respectively. JCP had no real history and market presence in either of these non-southern metro areas, and its ability to drawing sellout crowds for arena shows in
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