By 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.
By 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