Complex sentence: The same year, the company was renamed H-B Production Co. then became Hanna-Barbera Cartoons, Inc. in 1994, and in October 1996, Turner merged with Time Warner.
Split into simpler sentences: The same year, the company was renamed H-B Production Co. then became Hanna-Barbera Cartoons, Inc. in 1994. In October 1996, Turner merged with Time Warner.