SEC Filings

WARNER MEDIA, LLC filed this Form 425 on 02/25/2000
Entire Document

Q.   What accounting treatment will be given to the transaction?

A.   The merger will be accounted for as a purchase transaction and is currently
     expected to be accretive to America Online's cash earnings per share before
     the amortization of goodwill.

Q.   Will the merger be effected on a tax-free basis to stockholders?

A.   Yes.


     AOL Time Warner Inc., together with Time Warner Inc. and America Online,
Inc., filed a preliminary joint proxy statement/prospectus regarding the
proposed business combination transaction referenced in the foregoing
information with the Securities and Exchange Commission.  In addition, AOL Time
Warner, Time Warner and America Online will prepare and file a definitive joint
proxy statement/prospectus and other documents regarding the proposed
transaction with the Commission.  Investors and security holders are urged to
read the definitive joint proxy statement/prospectus, when it becomes available,
because it will contain important information.  The definitive joint proxy
statement/prospectus will be sent to stockholders of Time Warner and America
Online seeking their approval of the proposed transaction.  Investors and
security holders may obtain a free copy of the definitive joint proxy
statement/prospectus (when it is available) and other documents filed by AOL
Time Warner (as well as by America Online and Time Warner) with the Commission
at the Commission's web site at  The definitive joint proxy
statement/prospectus and these other documents may also be obtained for free by
America Online stockholders by directing a request to:  America Online, Inc.,
22000 AOL Way, Dulles, VA 20166, Attention:  Investor Relations, telephone:
(703) 265-2741, e-mail:  AOL, and by Time Warner stockholders by
directing a request to Time Warner Inc., 75 Rockefeller Plaza, New York, NY
10019, Attention:  Shareholder Relations, telephone:  (212) 484-6971, e-mail: