Hacker News Reader

I think CNN is being hyperbolic because Time Warner (CNN's parent company) sees them as a threat.

Isn't Turner Broadcasting (http://www.turner.com/) the parent of CNN? Or am I missing some information?

I think the news program is part of Turner Broadcasting System, but the organization is owned by Time Warner. But I only know this from Wikipedia. https://secure.wikimedia.org/wikipedia/en/wiki/CNN

Turner is an "autonomous" subsidiary of Time Warner.