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OMB APPROVAL
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OMB Number: 3235-0104
Expires: December 31, 2001
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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*
America Online, Inc.
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(Last) (First) (Middle)
22000 AOL Way
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(Street)
Dulles, VA 20166
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
January 10, 2000
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Time Warner Inc. (TWX)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/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. 4)
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<S> <C> <C> <C>
N/A
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
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
Common Stock (1) (2) (3) Common Stock 233,263,204 (4) $110.63 per share D
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</TABLE>
Explanation of Responses:
(1) The option (the "Option") to purchase shares of common stock, par value
$0.01 per share ("Common Stock"), was granted pursuant to the Stock Option
Agreement, dated as of January 10, 2000 (the "Stock Option Agreement"),
between the Reporting Person and the Issuer (filed as Exhibit 10.1 to the
Reporting Person's Report on Form 8-K dated January 10, 2000).
(2) The Option becomes exercisable upon the date on which the Reporting
Person becomes unconditionally entitled to receive certain termination fees
pursuant to Section 8.2(b) of the Agreement and Plan of Merger, dated as of
January 10, 2000, between the Reporting Person and the Issuer (filed as
Exhibit 2.1 to the Reporting Person's Report on Form 8-K dated January 10,
2000, which section is incorporated herein by reference).
(3) The Option expires upon the earliest to occur of certain events
described in Section 1.2(a) the Stock Option Agreement, which is
incorporated herein by reference.
(4) The number of shares of Common Stock subject to the Option adjusts to
equal 19.9% of the issued and outstanding shares of the Issuer's Common
Stock.
/s/J. Michael Kelly January 20, 1999
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J. Michael Kelly Date
Senior Vice President, Chief Financial Officer
and Assistant Secretary
**Signature of Reporting Person
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.