 This would leave 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's 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 is now part of Charter Communications), and later AOL, as independent companies; AOL was later purchased by Verizon in 2015.