Warner Bros. is a film and television production company founded in 1923 that is now owned by Time Warner. It has a history of success as one of the earliest major film studios in Hollywood. Some key facts about Warner Bros. include its $12 billion annual revenue, $1.3 billion operating income, and production of films with budgets ranging from $4 million to over $250 million. While blockbuster films like The Dark Knight Rises have extremely high production costs, they are also hugely profitable at the box office.