Stock

Where is Time Warner comm on stock traded?
Time Warner common stock is traded on the New York Stock Exchange under the symbol "TWX".

What is Time Warner's CUSIP number?
The CUSIP number for Time Warner's common stock is 887317303.
From October 13, 2003 through March 27, 2009, the CUSIP number was 887317105.

How can I invest?
Time Warner does not offer a direct stock purchase plan. If you would like to purchase shares in the Company, please contact your broker.

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Stock History

When was the company's IPO?
AOL Time Warner (now named Time Warner Inc.) was created through a merger of America Online, Inc. and Time Warner Inc. (now named Historic TW Inc.), which closed on January 11, 2001.

America Online became a publicly traded company on the NASDAQ on March 19, 1992, at an original price of $11.50. Adjusting for stock splits, this is an IPO price of $0.09.

Time Inc. merged with Warner Communications Inc., on January 10, 1990, to form Time Warner Inc. (a predecessor to the company now named Historic TW Inc.). The initial corporation named Time Inc. was incorporated on November 28, 1922 in the state of New York. Trading of its common stock on the New York Stock Exchange began on April 29, 1964, under the symbol TL. Prior to that date, the common stock was traded over the counter.

Has Time Warner announced a stock split?
Time Warner effected a 1-for-3 reverse stock split on March 27, 2009 at 7pm EST. Click here to view a complete list of the Company's stock split history.

How many shares does Time Warner have outstanding?
As of April 28, 2017, there were approximately 775.5 million shares of common stock outstanding.

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Financial

When does Time Warner Inc. announce quarterly earnings?
Time Warner Inc. currently announces quarterly earnings four times a year. To find the scheduled date and details for the next earnings announcement, please refer to the Investor Relations Events & Presentations section of our Web site.

When is the next shareholders' meeting?
The 2017 Annual Meeting of Shareholders will be held on Thursday, June 15, 2017, at 9:30 a.m. (local time) at Warner Bros. Studios, 4000 Warner Boulevard, Burbank, CA 91522. Click here for more information.

When does Time Warner's fiscal year end?
The Company's fiscal year ends on December 31.

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America Online - Historic TW Merger

When did America Online and Historic TW Inc. (formerly named Time Warner Inc.) merge?
America Online and Historic TW Inc. completed their merger on January 11, 2001.

Information on exchanging your shares

The exchange ratio: Prior to Time Warner's 1-for-3 reverse stock split at 7:00 pm on March 27, 2009, former shareholders of America Online, Inc. were entitled to one share of common stock of Time Warner Inc. (formerly named AOL Time Warner) in exchange for each common share of America Online, Inc. Prior to the 1-for-3 reverse stock split, former shareholders of Historic TW Inc. (formerly named Time Warner Inc.) were entitled to 1.5 shares of Time Warner Inc. common stock in exchange for each common share of Historic TW Inc. After March 27, 2009, the number of shares of Time Warner Inc. that former shareholders of America Online, Inc. and Historic TW Inc. will receive after exchanging their shares will be 0.333 and 0.5 shares, respectively, reflecting the 1-for-3 reverse stock split. Click here for more information .

Because of the spin-offs of Time Warner Cable Inc., AOL Inc. and Time Inc., you may also receive shares of those companies in connection with the exchange of your shares of America Online, Inc. and Historic TW Inc.

If you have not yet exchanged your shares of America Online or Historic TW Inc. for shares of Time Warner Inc. (formerly named AOL Time Warner), you must exchange your shares in one of the following ways:

1. Shareholders who own stock through a brokerage account

If your shares were held in a brokerage account, your broker is responsible for exchanging your shares into Time Warner shares. No action was required on your part.

2. Shareholders who own stock in their own name

If you hold certificates of Time Warner Inc. dated prior to February 2001 or of America Online, you need to exchange your existing certificates for new shares of Time Warner Inc. (formerly AOL Time Warner) common stock. If you have not yet exchanged your shares, you should contact our transfer agent, Computershare, at 800-254-5193 or 781-575-2879.

How do I determine the tax basis of the Time Warner common stock I received for my stock of Historic TW Inc. in the merger of America Online, Inc. and Historic TW Inc. (formerly named Time Warner Inc.)?
You should discuss this matter with your own tax advisor. In general, a holder of common stock who received Time Warner Inc. (formerly known as AOL Time Warner) common stock as a result of the merger between America Online, Inc. and Historic TW Inc. did not recognize a gain or loss as a result, except to the extent cash was received instead of a fraction of a share. Generally, the aggregate tax basis of the Time Warner Inc. common stock equals the aggregate tax basis of the common stock held (excluding the portion of such basis allocated to the fractional share), and the holding period includes the holding period of the Historic TW Inc. common stock. If cash was received instead of a fraction of a share of Time Warner Inc. common stock, the holder would realize a capital gain or loss equal to the difference between the ratable portion of the tax basis of the Historic TW Inc. common stock that is allocated to such fractional share and the cash received.

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Other Mergers

I recently found certificates for Warner Communications Inc. ("WCI") in my possession. What should I do with them, and what are they worth to me now?
Former holders of WCI common stock are not entitled to receive shares of Time Warner Inc. common stock.

Time Inc. merged with WCI on January 10, 1990, to form a company then named Time Warner Inc., which was subsequently renamed Time Warner Companies, Inc. (a predecessor of the company now known as Historic TW Inc.). A holder of WCI common stock at the time of the merger was entitled to receive the following for each such share:

• 0.7188774 of a share of Time Warner Inc. Series C 8 3/4% Convertible Exchangeable Preferred Stock ("Series C"), and
• 0.5421044 of a share of Time Warner Inc. Series D 11% Convertible Exchangeable Preferred Stock ("Series D"), and
• 0.15166 of a share of Class A common stock of BHC Communications, Inc. ("BHC").

The Series C and Series D preferred stock have since been redeemed for cash. As a result, upon submission of your WCI common stock certificates, you are entitled to receive cash and BHC Common stock. BHC was a separate, publicly traded company that is not affiliated with Time Warner Inc. BHC was acquired by The News Corporation Limited in 2001.

Pursuant to state abandoned property laws, Time Warner Inc. is required to remit to states certain property that has been unclaimed. As a result, your property should have been so remitted. Please contact Time Warner's Investor Relations department to inquire about the procedure for reclaiming your property. Due to the lengthy history underlying your shares, you are encouraged to correspond by written inquiry and to include a photocopy of the stock certificates you have found. Provided below is the contact information:

Time Warner Inc.
ATTN: Investor Relations
One Time Warner Center
New York, NY 10019-8016
PHONE: 866-INFO-TWX (866-463-6899)
EMAIL: ir@timewarner.com

How do I calculate the cost basis for shares of Class A common stock of BHC Communications, Inc. ("BHC") that I received as a result of the Time Inc.-WCI merger?
In the Time Inc.-WCI merger, a fraction of a share of Class A common stock of BHC Communications, Inc., was part of the merger consideration for each share of WCI common stock. The exchange of WCI common stock for such merger consideration was a taxable event in 1990. The tax basis of the shares received as merger consideration is the fair market value of the shares of stock you were entitled to receive or received in 1990. We urge you to consult your own tax advisor regarding this valuation. Please note that certain published sources, such as the Capital Changes Reporter compiled by Commerce Clearing House, Inc., have indicated what the market value of the merger consideration was as of January 10, 1990, the effective date of the merger. This publication identified $49.875 (the average of the high and low trading prices) as the market value of one share of BHC Class A Common Stock on such date.

NOTE: BHC was a separate, publicly traded company, and was acquired by The News Corporation Limited in 2001.

I recently found certificates for Turner Broadcasting System, Inc. ("TBS") common stock in my possession. What should I do with them, and what are they worth to me now?
Historic TW Inc. (formerly named Time Warner Inc.) acquired the remaining 80% interest in TBS that it did not already own on October 10, 1996. Each outstanding share of TBS Class A common stock and Class B common stock was converted into the right to receive 0.75 shares of Historic TW Inc. common stock. As a result of a 1998 stock split, the exchange ratio in the merger of America Online, Inc. and Historic TW Inc. (formerly named Time Warner Inc.) in 2001 and the 1-for-3 reverse stock split in 2009, each such TBS share is now exchangeable for 0.75 shares of Time Warner common stock.

If you have not yet exchanged your TBS Class A or Class B common stock, you may contact the Exchange Agent, Bank of New York at 800-507-9357.

How do I determine the tax basis of the Historic TW Inc. common stock I received for my stock of TBS in Historic TW Inc.'s acquisition of TBS?
At the time of the acquisition, TBS's counsel gave an opinion about the federal tax treatment of such exchange of TBS capital stock, based on a variety of assumptions and the federal tax laws and regulations at the time of the transaction. You are urged to discuss this matter with your own tax advisor. In general, a holder of TBS capital stock who received Historic TW Inc. common stock as a result of Historic TW Inc.'s acquisition of TBS did not recognize gain or loss as a result, except to the extent cash was received instead of a fraction of a share. Generally, the aggregate tax basis of the Historic TW Inc. common stock equals the aggregate tax basis of the TBS capital stock held (excluding the portion of such basis allocated to the fractional share) and the holding period includes the holding period of the TBS capital stock. If cash was received instead of a fraction of a share of Historic TW Inc. common stock, the holder would realize a capital gain or loss equal to the difference between the ratable portion of the tax basis of the TBS capital stock that is allocated to such fractional share and the cash received.

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Separations of Time Warner Cable Inc., AOL Inc. and Time Inc.

Where can I find more information regarding the separation of Time Warner Cable Inc., AOL Inc. and Time Inc. from Time Warner Inc.?
The separation of Time Warner Cable Inc. from Time Warner Inc. became effective on March 12, 2009. For more information regarding the separation of Time Warner Cable Inc., click here .

Time Warner Inc. completed the spin-off of AOL Inc. on December 9, 2009. For more information regarding the separation of AOL Inc., click here .

Time Warner Inc. completed the spin-off of Time Inc. on June 6, 2014. For more information regarding the separation of Time Inc., click here .

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Shareholder Contact Information

How can I get a copy of Time Warner’s Annual Report and other investor materials?
Archived annual reports on Form 10-K and quarterly reports on Form 10-Q are available for download on the Earnings Releases & Related Materials page and on the SEC Filings page. Archived annual reports to shareholders are available for download on the Annual Reports page, and the most recent proxy materials are available for download on the Annual Meeting Materials page.

How can I update my address, transfer my shares, or request a stock certificate?
Our transfer agent, Computershare, is responsible for maintaining all records of registered shareholders (including change of address, telephone number and name), canceling or issuing stock certificates and resolving problems related to lost, destroyed or stolen certificates. If you are a shareholder, and you own your shares directly, not through a broker, and need to change your records pertaining to the stock, please contact Computershare directly:

E-mail Time Warner's Transfer Agent, Computershare

Or, some transactions can be done online at www.computershare.com

Or you may send postal mail to Computershare Investor Services as follows:

If by First Class, Registered or Certified Mail:

    Computershare Investor Services
    P.O. Box 30170
    College Station, TX 77842

If by overnight courier:

    Computershare Investor Services
    211 Quality Circle, Suite 210
    College Station, TX 77845

If you would like to transfer your stock certificates to someone else, please call Computershare at 800-254-5193 or 781-575-2879, or visit the Web site, at www.computershare.com, to review the requirements for transfer of shares.

Beneficial shareholders (who hold their shares through brokers) should contact the broker directly on all administrative matters.

Whom do I contact with additional questions?
Contact Time Warner Investor Relations.

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Dividend History

Does the Company pay a dividend?
Time Warner Inc. currently declares quarterly dividends four times a year. To find the record date and payment date and details for dividend announcements, please refer to the Investor Relations Dividend Information section of our Web site.

Does the Company offer a dividend reinvestment plan (DRIP)?
The Company does not offer a DRIP plan at this time.

May I have my dividends directly deposited into my bank account?
Yes. You may elect to have your future dividends deposited directly into a bank account of your choice. Enrollment information is included on the back of the dividend check stub. You can also enroll online by going to www.computershare.com . To access your account, you will need your account information, which is included on your dividend check.

Beneficial shareholders (who hold their shares through brokers) should contact the broker directly on all administrative matters.

How may I obtain information about my dividend payment (replacing lost or missing checks, mailing address changes)?
1. Shareholders who own stock through a brokerage account: Your broker is responsible for all account maintenance.

2. Shareholders who own stock in their own name: You should contact our transfer agent, Computershare, at 800-254-5193 or 781-575-2879, for questions or requests about your account.

When will I receive or what if I did not receive my Form 1099 for tax purposes?
The Form 1099 pertains to dividends received. Depending on how you hold your stock (please see descriptions in prior FAQ), please contact either your broker or our transfer agent, Computershare, in the event you do not receive a Form 1099.

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