OREANDA-NEWS. Time Warner Inc. (NYSE:TWX) today announced that it has commenced an underwritten public offering of senior notes due 2026 of benchmark size. The net proceeds from the issuance of the notes will be used for general corporate purposes.

The notes will be issued by Time Warner and guaranteed by Historic TW Inc. In addition, Home Box Office, Inc. and Turner Broadcasting System, Inc. will guarantee the obligations of Historic TW Inc. under its guarantee. The guarantee structure for the notes will be the same as the structure for the notes and debentures Time Warner has issued since 2010.

The offering is being made pursuant to an effective registration statement on Form S-3 filed with the Securities and Exchange Commission ("SEC"). Interested parties should read the prospectus included in such registration statement and the preliminary prospectus supplement for the offering and other documents that Time Warner has filed with the SEC for more complete information about Time Warner and the offering.

The offering is being made only by means of a prospectus and a related prospectus supplement. Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Mizuho Securities USA Inc. are the active joint book-running managers for the offering. Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting Citigroup Global Markets Inc. at 800-831-9146, Credit Agricole Securities (USA) Inc. at 866-807-6030, Merrill Lynch, Pierce, Fenner & Smith Incorporated at 800-294-1322 and Mizuho Securities USA Inc. at 866-271-7403. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is also available on the SEC's website, www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the notes and guarantees in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Time Warner Inc., a global leader in media and entertainment with businesses in television networks and film and TV entertainment, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide on a multi-platform basis.