The third largest business group and family of record labels in the recording industry, making it one of the big four record companies. For three decades the comglomerate was known as WEA, which stood for Warner Bros-Elektra-Atlantic Records, three major labels in the music industry. Each of these labels also distributes other record labels and imprints in turn. The current incarnation of the company as Warner Music Group was formed in 2004 when it was spun off from Time Warner, and as a result Time Warner no longer retains any ownership whatsoever in Warner Music Group, despite its name. WMG also has a music publishing arm called Warner/Chappell Music which is currently one of the world's largest music-publishing companies.