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Time Warner has a proud tradition of leadership.

Our company helped lead the way in creating the modern media industry. In fact, many aspects of the media industry that we take for granted today – from weekly magazines to DVDs, and from 24-hour news networks to online services – were pioneered by our predecessors at this company.

Our company also has a record of civic leadership, including being the first major U.S.-based media company to issue a comprehensive corporate social responsibility report in 2006. We believe that delivering a superior return to our stockholders goes hand-in-hand with fulfilling our broader role as a corporate citizen. Indeed, many of the principles that support the success of our businesses – journalistic integrity, freedom of expression, access to information, diversity of viewpoints, and responsibility to community – are also at the heart of our role as a corporate citizen.

As the world’s leading media and entertainment company, our goal is to deliver superior returns to our stockholders and exceptional value to our customers in a sustainable and long-term way. Time Warner’s commitment to corporate social responsibility is one of many ways we achieve long-term growth. I am proud to lead our company in that continuing endeavor.

Jeffrey L. Bewkes
President and Chief Executive Officer
June 2008