NEW YORK, NY and SAN BRUNO, CA - Time Warner Inc. (NYSE:TWX - News) and YouTube(TM) today announced an online video distribution agreement that will give consumers access to an extensive variety of high-quality, short-form content owned by Time Warner, including clips from movies, television shows and news programming. The agreement will allow Time Warner's Warner Bros. Entertainment and Turner Broadcasting System, Inc. to program videos on YouTube using a Time Warner embeddable player.

YouTube will host the content made available from a wide range of Time Warner-owned television shows and movies. Consumers will have easier access to a wide selection of existing and future clips, ranging from CNN news coverage to Cartoon Network and Adult Swim animated shows to TNT's hit dramas to Warner Bros. Television productions like "Gossip Girl" and "The Ellen DeGeneres Show." Another Time Warner property, HBO, has been programming a branded channel on YouTube since early last year with promotional content from shows including "True Blood," "Hung" and "Entourage."

In addition, this deal gives Time Warner the ability to create separate channels for its key participating brands as well as to control and sell the ad time on YouTube. Warner Bros. Entertainment and Turner Broadcasting will work with YouTube to offer their advertising and agency partners unique packages of targeted advertising, supplemental marketing and branded channels.

Time Warner Chairman and Chief Executive Officer Jeff Bewkes said: "Our agreement with YouTube helps us expand the amount of our promotional content, animation and news that we already make available online. Working with YouTube, we expect to improve our ability to monetize this short-form content through new and creative advertising initiatives."

"This partnership with Time Warner will provide our community with some of the most popular video content produced," said Chad Hurley, co-founder and CEO of YouTube. "We hope to build on this deal and look forward to a long and productive relationship."

Under the agreement, videos from Time Warner properties will appear on YouTube and across Google's product suite. Clips will include advertising, with time sold by Warner Bros. Entertainment and Turner Broadcasting System. Time Warner's properties will share ad revenue with YouTube. The flexibility of this ad sales model differentiates YouTube from its competitors in the industry and was a key factor in the agreement with Time Warner. YouTube also will feature Time Warner content in marketing and promotional campaigns, including display ads.

Many of the Time Warner brands or television shows will have the opportunity to create and program YouTube channels, beginning this year.

About YouTube
YouTube has more premium partners than any other online video site and is actively working hand-in-hand with a growing list of content creators and advertisers across the entertainment industry to help them generate revenue and innovate in the digital era. YouTube's sophisticated analytics and online tools show content creators how, when and why their audiences are engaging with their material. From major, household names like Disney to small, independent studios and aspiring filmmakers, YouTube provides a platform where anyone from around the globe can connect, share and enjoy much of the world's best entertainment online.

About Time Warner Inc.
Time Warner Inc., a global leader in media and entertainment with businesses in television networks, filmed entertainment, publishing and interactive services, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide through multiple distribution platforms. For more information about Time Warner Inc., please visit www.timewarner.com.