Time Warner ranks No. 122 on FORTUNE's 2006 Global 500

(Fortune) -- Time Warner (Charts) ranks no. 122 on FORTUNE's Global 500 this year, with $43.7 billion in revenues, up 1.8% from the previous year. The New York, New York-based company was ranked no. 100 on the 2005 list. Its 2005 profits were $2.9 billion, down 13.6% from a year earlier. 2005 was a banner year for most Global 500 companies.

It took $13.7 billion in revenue just to make this year's list - up from $12.4 billion last year. And profits for the 500 companies jumped 30%. Total revenues for the Global 500 in 2006 add up to $18.9 trillion, a third of the world's GDP.

In the Entertainment industry, profits were down 2.8% from the previous year. The world's biggest companies in the sector are: Walt Disney (Charts), ranked no. 180 on the Global 500 with $31.9 billion in revenues; News Corp. (Charts), ranked no. 256 on the Global 500 with $23.9 billion in revenues; Bertelsmann AG, ranked no. 287 on the Global 500 with $22.2 billion in revenues; and CBS Corporation (Charts), ranked no. 468 on the Global 500 with $14.5 billion in revenues.

The Global 500 list is an annual ranking of the world's largest corporations by revenues.

Next: Full list: 2006 Global 500 at http://money.cnn.com/global500

Plus: See Time Warner's Global 500 details, including financial stats and contact information. Top of page

Next: See 2006 FORTUNE Global 500

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