I don't think you're necessarily out of touch, but you might be looking at it with the wrong lens. Time Warner is a media company. Their business is creating a

I don't think you're necessarily out of touch, but you might be looking at it with the wrong lens. Time Warner is a media company. Their business is creating and monetizing media, either by selling it or by selling advertising for it. Traditionally they did most of it by TV and cable. With the advent of the internet and sites like Hulu and Youtube, Time Warner is also moving online. But that's if you're trying to focus on selling the content. If you're trying to sell the advertising around the content, then you've got a problem. Traditionally you make all of that money on highly valuable ad placements between segments of your TV shows right? Sports broadcasts, for example, are premium advertising inventory, but in the last few years things have been hurting badly because of increasing numbers of cord cutters. They all went to Snapchat, Facebook, Netflix, Google (Youtube), so all of these tech giants are trying to eat traditional media's lunch. It's a blatantly obvious move with the sports broadcasting agreements that Twitter, Facebook, Amazon, etc. have been signing. This is Time Warner going "well if you can't beat 'em, join 'em." Better to embrace all formats that would let you reach (and monetize) audiences than to get left in the dust. Snapchat has somewhere around 150 million active-ish users, and your average TV show (not the blockbusters) probably sees somewhere around 5-10 million viewers? So the numbers actually work out in terms of just reach. I'm not so sure about monetization.