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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Time Warner Inc.
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(Last) (First) (Middle)
75 Rockefeller Plaza
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(Street)
New York, New York 10019
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
01/10/00
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3. IRS or Social Security Number of Reporting Person (Voluntary)
13-3527249
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4. Issuer Name and Ticker or Trading Symbol
America Online, Inc. (AOL)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[ ] Officer (give title below) [ X ] Other (specify below)
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6. If Amendment, Date of Original (Month/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
[ X ] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v)
Page 1 of 4
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Option to Purchase See Ex- See Ex- Common Stock, par 452,535,148 See Expla- D
planation planation value $0.01 per nation of
of of Responses share Responses
Responses
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</TABLE>
Page 2 of 4
<PAGE>
Explanation of Responses:
On January 10, 2000, Time Warner Inc. ("Time Warner") and America Online, Inc.
("America Online") entered into an Agreement and Plan of Merger (the "Merger
Agreement"). In connection with the Merger Agreement, Time Warner and America
Online entered into a Stock Option Agreement (the "Stock Option Agreement")
pursuant to which America Online granted to Time Warner an option (the
"Option") to purchase up to 452,535,148 shares of common stock, par value
$0.01 per share, of America Online ("America Online Common Stock"), subject to
adjustment, representing approximately 19.9% of the America Online Common
Stock issued and outstanding on January 5, 2000, at a purchase price per share
equal to $73.75, subject to adjustment. The Option may be exercised by Time
Warner at any time after the occurrence of any event as a result of which Time
Warner becomes entitled to receive, pursuant to the Merger Agreement, the
America Online Termination Fee (as defined in section 8.2(c) of the Merger
Agreement). The Option will terminate upon the earliest of (i) the effective
time of the Mergers, (ii) written notice of termination of the Stock Option
Agreement by Time Warner, (iii) 12 months after the date Time Warner becomes
entitled to the America Online Termination Fee and (iv) the date of
termination of the Merger Agreement (unless Time Warner has the right to
receive the America Online Termination Fee, in which case the Option will not
terminate until the later of (x) 15 business days following the date the
America Online Termination Fee becomes payable and (y) the expiration of the
period in which Time Warner has the right to receive the America Online
Termination Fee).
The Option is not currently exercisable and only becomes exercisable under
certain circumstances. Time Warner expressly disclaims beneficial ownership of
all shares of America Online Common Stock that may be purchased upon exercise
of the Option.
Page 3 of 4
<PAGE>
*Name and Address of Reporting Person:
Time Warner Inc.
75 Rockefeller Plaza
New York, New York 10019
Additional Reporting Persons: N/A
Date of Event Requiring Statement: January 10, 2000
Issuer Name and Ticker or Trading Symbol: America Online, Inc. (AOL)
**Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.
/s/ Christopher P. Bogart January 19, 2000
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**Signature of Reporting Person Date
Name: Christopher P. Bogart
Title: Executive Vice President,
General Counsel and
Secretary
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form
displays a currently valid OMB Number.
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