“When Time Inc. and Warner Communications announced their merger, the new company lacked a trademark. Warner was primarily concerned with entertainment, Time with journalism. So their common denominator needed to be much broader: looking and listening, reading and hearing, receiving and sending. The new logo was a pictograph combination of an eye and ear, the essence of communication.”
— Quoted from Decoding Design and the C&G Partners website.
Time Warner logo
Today the symbol is used by Time Warner Cable, updated by The Brand Union (below).
Update: 20 June 2013
London-based johnson banks asked Steff Geissbuhler, “What’s the worst design crime you’ve seen?”
“The redrawing of my Time Warner logo, making it weaker, and then calling it theirs.”