 
Time
Warner Inc.
Profile:
"Time Warner Inc. is the world's leading
media company. With an array of world-class brands and the best corporate
and divisional management, Time Warner is helping transform the global
information and entertainment landscape.
Time Warner Digital Media manages the company's
diverse digital media businesses.
Time Warner Inc. operates five businesses:
Cable Networks:
Time Warner's Cable Networks group, including
Turner Entertainment's basic cable networks, CNN News Group and Home Box
Office, includes many of the most valuable franchises in television news
and entertainment.
Publishing:
Time Inc. is the foremost creator of publishing
and information brands, including many of America's most successful magazines,
best-selling books, popular book clubs and informative Web sites.
Music:
Time Warner's Warner Music Group is one of
the world's leading music entertainment companies.
Filmed Entertainment:
Time Warner's filmed entertainment group,
consisting of Warner Bros. and New Line Cinema, is home to the world's
most popular feature films, television programs and animation.
Cable Systems:
Time Warner Cable is the most technologically
advanced cable operator." (according to the Time
Warner Inc. website)
European Headquarters
Boulevard Brand Whitlock 42
1200 Brussels Belgium
Main Telephone: (32) (2) 735.4242
  
History:
Times
Warner Inc. was formed when two leading media companies Time Inc. and Warner
Inc. merged. The merger proved to be among the most successful mergers
of the time. The company is continuously expanding its horizons.
Time Warner Inc. bought up every possible cable company within it's grasp.
It continues today buying out small cable companies, and with the new merger
with AOL on the horizon they are sure to gain success through the internet
as well.
Time Warner Inc. has a variety of branches
it currently deals with:
Officers:
Position/Name:
Chairman and CEO
Gerald
M. Levin
Age: 61
Director of the company: 1988
Mr. Levin became Chairman of the Board of Directors and Chief Executive
Officer of the Company on January 21, 1993 having served in other executive
positions at the Company prior to that. He previously served as a Director
of the Company from 1983 until January 1987. He is also a member of the
Board of Representatives of Time Warner Entertainment Company, L.P. and
a Director of The New York Stock Exchange, Inc. Mr. Levin is an Affiliated
Director. After the merger with American Online, Levin will become CEO
of AOL TimeWarner Inc.
VC
R.
E. "Ted" Turner
Age: 61
Director of the company: since October 10, 1996
Mr. Turner became Vice Chairman of the Company upon acquisition of
Turner Broadcasting System, Inc. on October 10, 1996. Prior to that, Mr.
Turner served as Chairman of the Board and President of TBS from 1970.
Mr. Turner is also on the Time Warner board of directors.
President
Richard
D. Parsons
Age: 52
Director of the company: since January 1991
Mr. Parsons became President of the Company on February 1, 1995. His
responsibilities include overseeing the company's filmed entertainment
and music businesses, and for all corporate staff functions, including
all corporate financial activities, legal affairs, corporate public affairs
and administration. Prior to that, he served as the Chairman and Chief
Executive Officer of The Dime Savings Bank of New York, FSB from January
1991. He served as a Director of American Television and Communications
Corporation, then an 82%-owned subsidiary of the Company, from 1989 until
1991. He is currently Director of Citigroup Inc., Estee Lauder Companies
Inc. and Philip Morris Companies Inc. and a member of the Board of Representatives
of Time Warner Entertainment Company, L.P. Mr. Parsons is an Affiliated
Director. Committee membership: Values and Human Development Committee
(Chair).
EVP and CFO
Joseph
A. Ripp
EVP, Secretary, and General Counsel
Christopher
P. Bogart
  
Plans:
"Time Warner had a strong financial performance in 1999, as measured
by the operating performance of its businesses and the improved strength
of its financial condition, as more fully described herein. This performance
was driven primarily by solid business fundamentals at most of its businesses
and a disciplined financial focus on cost management and controlled capital
spending. This financial performance enabled Time Warner to use its increasing
free cash flow and financial capacity to repurchase close to $2 billion
of common stock in 1999, while continuing to invest in the growth of its
businesses. Moreover, in early 2000, consistent with its ongoing
strategy to focus on growth opportunities across its businesses, Time Warner
announced two transactions of high strategic importance. These transactions
consist of:
· A proposed merger with America Online, Inc. (“America Online’’),
the world’s leader in interactive
services, web brands, Internet technologies and electronic commerce
services; and
· A proposed merger of the global operations of Time Warner’s
Music division and EMI Group plc
(“EMI’’), a leading recorded music company and music publisher.
Each of these transactions is discussed separately below. America
Online-Time Warner Merger
In January 2000, Time Warner and America Online announced that they
had entered into an agreement to
merge (the “Merger’’) by forming a new holding company named AOL Time
Warner Inc. (“AOL Time
Warner’’). The Merger will create a leading, fully integrated media
and communications company that will
combine Time Warner’s collection of media, entertainment and news brands
and its technologically advanced cable infrastructure with America Online’s
extensive Internet franchises and technology. Management believes that
the combined company will be well positioned to expand the use of the Internet
in consumers’ everyday lives and, accordingly, provide Time Warner’s content
businesses with increased access to consumers through a new and growing
distribution medium. Management further believes that the Merger will result
in significant new business and other value-creation opportunities, including
additional opportunities for e-commerce, growth in subscribers for each
company’s products and services, and cost and operating efficiencies from
cross-promotional and other opportunities.
As part of the Merger, each issued and outstanding share of each class
of common stock of Time Warner
will be converted into 1.5 shares of an identical series of common
stock of AOL Time Warner. In addition, eachv issued and outstanding share
of each class of preferred stock of Time Warner will be converted into
one share of preferred stock of AOL Time Warner, which will have substantially
identical terms except that such shares will be convertible into approximately
6.25 shares of AOL Time Warner common stock. Lastly, each issued and outstanding
share of common stock of America Online will be converted into one share
of common stock of AOL Time Warner." (Shareholders statement 2000)
Key
Competitors
News Corp. | Viacom
| Walt
Disney
 
   
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10/13/00
Amanda
Dean Taylor |
