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The SEC encourages companies to disclose forward-looking information so that investors can better understand a company’s future prospects and make informed investment decisions. The information on this web site contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often include words such as “anticipates,” “estimates,” “expects,” “projects,” “intends,” “plans,” “believes” and words and terms of similar substance in connection with discussions of future operating or financial performance. Examples of forward-looking statements include, but are not limited to, statements regarding the adequacy of Time Warner Inc.’s (“Time Warner” or the “Company”) liquidity to meet its needs for the foreseeable future, the incurrence of additional restructuring charges in 2010, pension expenses in 2010, capital spending in 2010 and beyond, contributions to benefit plans in 2010, the Company’s international expansion plans and changes to existing reserves related to uncertain tax positions.

The Company’s forward-looking statements are based on management’s current expectations and assumptions regarding the Company’s business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. As with any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstances. The Company’s actual results may differ materially from those set forth in its forward-looking statements. Important factors that could cause the Company’s actual results to differ materially from those in its forward-looking statements include government regulation, economic, strategic, political and social conditions and the following factors.

	recent and future changes in technology, services and standards, including, but not limited to, alternative methods for the delivery and storage of digital media and the maturation of the standard definition DVD format;
	changes in consumer behavior, including changes in spending or saving behavior and changes in when, where and how they consume digital media;
	changes in the Company’s plans, initiatives and strategies, and consumer acceptance thereof;
	changes in advertising expenditures due to, among other things, the shift of advertising expenditures from traditional to digital media, pressure from public interest groups, changes in laws and regulations and other societal, political, technological and regulatory developments;
	competitive pressures, including, as a result of audience fragmentation;
	the popularity of the Company’s content;
	piracy and the Company’s ability to protect its content and intellectual property rights;
	lower than expected valuations associated with the cash flows and revenues at Time Warner’s segments, which could result in Time Warner’s inability to realize the value of recorded intangibles and goodwill at those segments;
	the Company’s ability to deal effectively with an economic slowdown or other economic or market difficulty;
	decreased liquidity in the capital markets, including any reduction in the Company’s ability to access the capital markets for debt securities or obtain bank financings on acceptable terms;
	the effects of any significant acquisitions, dispositions and other similar transactions by the Company;
	the failure to meet earnings expectations;
	the adequacy of the Company’s risk management framework;
	changes in applicable accounting policies;
	the impact of terrorist acts, hostilities, natural disasters and pandemic viruses;
	changes in tax laws; and
	the other risks and uncertainties detailed in Part I, Item 1A, “Risk Factors” in Time Warner’s Annual Report on Form 10-K for the year ended December 31, 2009 and in Time Warner’s other filings made from time to time with the SEC (copies of which may be obtained through the Investor Relations portion of this web site under “Reports & SEC Filings”).

Any forward-looking statements made by the Company speak only as of the date on which they are made. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise.