SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 4, 1996
TIME WARNER INC.
(Exact name of registrant as specified in its charter)
Delaware 1-8637 13-1388520
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation File Number) Identification No.)
or organization)
75 Rockefeller Plaza, New York, NY 10019
(Address of principal executive offices) (zip code)
(212) 484-8000
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)<PAGE>
Item 5.
Time Warner Inc. issued a press release on April 4,
1996 in the form attached hereto as Exhibit 99.
Item 7. Exhibits
99 Press Release dated April 4, 1996.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of New York, State of New York, on
April 4, 1996.
TIME WARNER INC.
By: /s/ Thomas W. McEnerney
Name: Thomas W. McEnerney
Title: Vice President<PAGE>
EXHIBIT INDEX
Pursuant to Item 601 of Regulation S-K
Sequentially
Exhibit No. Description of Exhibit Numbered
99 Press Release, dated 4
April 4, 1996.
For Immediate Release
TIME WARNER DEBT-REDUCTION PROGRAM AT $3.2 BILLION
--Company to Issue 100,000 Additional Series K Preferred Shares--
NEW YORK, Apr. 4, 1996--Time Warner Inc. announced today that in
connection with its offering of $1.5 billion liquidation
preference of 10 1-4% Series K Exchangeable Preferred Stock, the
underwriters have exercised an option to issue an additional
100,000 shares of the Series K Preferred to cover overallotments.
In making the announcement, Time Warner Chairman and CEO Gerald M.
Levin said, "I am pleased with this additional issue of Series K
Preferred, which will now bring our debt-reduction program to $3.2
billion. Our debt-reduction efforts have strengthened our balance
sheet, demonstrating our continuing commitment to an investment-
grade rating. As we go forward, we will continue to work toward
further strengthening our balance sheet and our ratios."
The offering will consist of 1.6 million shares of 10 1-4%
Series K Exchangeable Preferred Stock with an aggregate
liquidation preference of $1.6 billion.
The securities will initially be offered in a private placement
under rule 144A, will not be registered under the United States
Securities Act of 1933 and may not be offered or sold in the
United States absent registration or an applicable exemption from
the registration requirements.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be an offer or
sale of the securities in the proposed offering in any state in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any
such state.
Time Warner Inc., the world's leading media company, consists of
three fundamental businesses: entertainment, news and information
and telecommunications, with interests in filmed entertainment,
television production, broadcasting, recorded music, music
publishing, cable-television programming, theme parks, magazines,
book publishing and cable-television systems.
