SEC Filings

S-4
TIME WARNER INC. filed this Form S-4 on 02/11/2000
Entire Document
 
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                                 TABLE OF CONTENTS

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QUESTIONS AND ANSWERS ABOUT THE MERGER....................................   1
SUMMARY OF THE JOINT PROXY STATEMENT-PROSPECTUS...........................   4
 The Companies............................................................   4
 The Structure of the Merger..............................................   7
 Recommendation of the Boards of Directors and Opinions of Financial
  Advisors................................................................   9
 Stockholder Approvals....................................................   9
 The Special Meetings.....................................................  10
 Board of Directors and Management Following the Merger...................  10
 Interests of Directors and Executive Officers in the Merger..............  10
 Treatment of Stock Options and Restricted Stock..........................  11
 Tax Consequences.........................................................  11
 Overview of the Merger Agreement.........................................  11
 Stock Option Agreements..................................................  13
 Voting Agreement.........................................................  13
 Market Price Information.................................................  13
 Selected Historical and Pro Forma Financial Data.........................  14
 Selected Historical Financial Data.......................................  14
 Ratio of Earnings to Combined Fixed Charges and Preferred Dividends......  15
 Time Warner Entertainment Group Selected Historical Financial Data.......  19
 Selected Unaudited Pro Forma Consolidated Financial Data.................  21
 Unaudited Comparative Per Share Information..............................  22
RISK FACTORS..............................................................  23
 The value of the shares of AOL Time Warner stock that you receive may be
  less than the value of your shares of America Online stock or Time
  Warner stock............................................................  23
 The combination of America Online and Time Warner to form an integrated
  media and communications company creates a new business model that the
  marketplace may have difficulty valuing.................................  23
 AOL Time Warner may fail to realize the anticipated benefits of the
  merger..................................................................  23
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 Directors of America Online and Time Warner have potential conflicts of
  interest in recommending that you vote in favor of adoption of the
  merger agreement........................................................  24
 AOL Time Warner may be subject to adverse regulatory conditions .........  24
THE SPECIAL MEETINGS......................................................  25
 Joint Proxy Statement-Prospectus.........................................  25
 Date, Time and Place of the Special Meetings.............................  25
 Purpose of the Special Meetings..........................................  25
 Stockholder Record Date for the Special Meetings.........................  25
 Vote Required for Adoption of the Merger Agreement.......................  26
 Proxies..................................................................  27
 Voting Electronically or by Telephone....................................  27
 Solicitation of Proxies..................................................  28
THE MERGER................................................................  29
 Background of the Merger.................................................  29
 America Online's Reasons for the Merger..................................  31
 Time Warner's Reasons for the Merger.....................................  34
 Recommendation of America Online's Board of Directors....................  39
 Opinion of America Online's Financial Advisor............................  39
 Recommendation of Time Warner's Board of Directors.......................  47
 Opinion of Time Warner's Financial Advisor...............................  47
 Interests of Certain America Online Directors and Executive Officers in
  the Merger..............................................................  54
 Interests of Certain Time Warner Directors and Executive Officers in the
  Merger..................................................................  55
 Completion and Effectiveness of the Merger...............................  56
 Structure of the Merger and Conversion of America Online and Time Warner
  Stock...................................................................  56
 Exchange of Stock Certificates for AOL Time Warner Stock Certificates....  57
 Treatment of America Online and Time Warner Stock Options and Other
  Equity Based Awards.....................................................  58
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