Home Box Office (HBO) is an American premium cable and satellite television network that is owned by Time Warner through its respective flagship company Home Box Office, Inc. Programming featured on the network consists primarily of theatrically released motion pictures and original television series, along with made-for-cable movies and documentaries, boxing matches, and occasional stand-up comedy and concert specials. HBO is the oldest and longest continuously operating pay television service (basic or premium) in the United States, having been in operation since November 8, 1972. In 2014, HBO had an adjusted operating income of US$1.79 billion, compared to the US$1.68 billion it accrued in 2013.