Turner Broadcasting System
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Turner Broadcasting System, Inc. is the holding company of one of four operative divisions of Time Warner.
Founded in 1970 as Turner Communications Group (TCG) by Ted Turner, the company owned local broadcast television station WTCG in Atlanta. Beginning with satellite transmission in 1976, WTCG became a Superstation, predating the concept of basic cable. When the company changed it's name into Turner Broadcasting System (TBS) in 1979, the television station became WTBS, the origin of basic cable channel TBS.
Ted Turner acquired Metro-Goldwyn-Mayer (MGM) in 1986, but sold the company back shortly after, while retaining most of the MGM film library. The new subsidiary Turner Entertainment immediately assumed control of those assets. In 1991 TBS acquired animation company Hanna-Barbera, followed in 1994 by film companies Castle Rock Entertainment and New Line Cinema.
In 1996 TBS merged with new parent company Time Warner, leading to re-alignements of the TBS assets. Hanna-Barbera and Castle Rock became units of sister company Warner Bros. Entertainment, while New Line Cinema became itself another sister company. As one of then seven mostly autonomous divisions, TBS gets concentrated on its basic cable networks, Turner's sports assets and limited television production and distribution units, including full control of Turner Entertainment and new Cartoon Network Studios.