Time Warner always seems to be at the center of the media industry’s most important deals. The union of Time Inc and Warner Communications in 1990 kicked off a decade of merger mania by challenging the long-held belief that journalism would suffer at an entertainment company. When AOL and Time Warner combined a decade later it became a symbol of corporate hubris, and one of the worst deals ever with a loss of $54 billion of its asset value. Now Time Warner seems to be…