Warner Bros.-Seven Arts was formed in 1967, when Seven Arts Productions acquired Jack Warner's controlling interest in Warner Bros. for $95 million and merged with it. The deal also included Warner Bros. Records and Reprise Records. Later that same year, Warner Bros.-Seven Arts purchased Atlantic Records. Warner Bros.-Seven Arts was acquired in 1969 by Kinney National Company. Due to a financial scandal over its parking operations Kinney National spun off its non-entertainment assets in 1972, and changed its name to Warner Communications, which has since merged with Time, Inc. to form Time Warner.
