 The court ruled twice in favor of Time, forcing Paramount to drop both the Time acquisition and the lawsuit, and allowing the formation of the two companies' merger which was completed on January 10, 1990.However, instead of the companies becoming defunct, the impact of the merger and its resultant financial shock wave gave off a new corporate structure, resulting in the new combined company being called "Time Warner".In 2008, Time Inc. launched Maghound, an internet-based magazine membership service that featured approximately 300 magazine titles from both Time Inc. brands and external publishing companies.