Late Friday night, Time Warner Inc. completed the separation of Time Inc. into an independent publicly-traded company, which started trading on the New York Stock Exchange this morning. That means that the value of Time Inc. is no longer reflected in Time Warner’s stock price—and has its own symbol as TIME (Time Warner’s stock symbol remains TWX). You can learn more at timewarner.com/investors.

It’s a milestone for both companies, and reflects Time Warner’s strategy over the past few years of becoming more focused on creating, acquiring and distributing valuable and compelling video content around the world through the Turner Broadcasting and HBO networks and the TV and film production businesses of Warner Bros.

As Time Warner Chairman and CEO Jeff Bewkes noted in a press release issued this morning: “The spin-off of Time Inc. completes the process we began several years ago to position Time Warner as the world’s leading video content company. Our strategy reflects our commitment to delivering strong returns to our shareholders as we light up the world with the best storytelling.”