 The rapid decline of WCW's viewership can be attributed to the Fingerpoke of Doom (which occurred on January 4, 1999) and the company's mounting losses.On March 23, 2001, the WWF acquired most of the assets of WCW, which had been up for sale since late 2000; "Monday Nitro" aired its last episode three days later.On September 22, 1995, Time Warner – a New York City-based media company formed in 1989 through the merger of Time Inc. and Warner Bros. corporate parent Warner Communications – reached an agreement to acquire the Turner Broadcasting System and its associated properties (including TNT, TBS, CNN, Headline News and Cartoon Network as well as Turner Entertainment) for $7.5 billion; the deal would also expand Time Warner's pay television holdings, as it had owned HBO and sister premium service Cinemax as well as cable television provider Time Warner Cable since the Time-Warner Communications merger six years prior.