The Warner Brothers studio was founded in 1923 and is now owned by Time Warner, a global media corporation. Time Warner owns a vast library of over 61,000 hours of programming including 6,500 feature films and 3,000 TV shows. The Warner Brothers started in the film business in 1903 as traveling exhibitors showing early films. Their Looney Tunes cartoons showcased musical compositions and featured characters like Bugs Bunny. Time Warner now owns the video rights to the entire Looney Tunes library through its acquisition of Turner Entertainment.