SEC Filings

425
TIME WARNER INC. filed this Form 425 on 02/25/2000
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Set forth below are selected "talking points" that may be used from time to time
        by representatives of America Online, Inc. and Time Warner Inc.
      in discussing the proposed merger of America Online and Time Warner
                 and the combined company, AOL Time Warner Inc.


Q.   What will the combined company be called?

A.   AOL Time Warner Inc.

Q.   Where will the company be headquartered?

A.   AOL Time Warner's corporate headquarters and principal executive offices
     will be in New York City, with additional executive offices in Dulles,
     Virginia.

Q.   Where will the new company's stock be listed for trading?

A.   The common stock will be listed for trading on The New York Stock Exchange
     under the symbol AOL.

Q.   What are some of the strategic advantages that America Online expects to
     gain from the merger with Time Warner?

A.   By combining the leading interactive services and media companies, AOL Time
     Warner will advance the strategic goals of America Online and Time Warner
     and will provide the potential for stronger operating and financial results
     than either company could achieve on its own.  America Online's Internet
     resources will drive the digital transformation of Time Warner's divisions,
     and Time Warner's resources will advance the development of next-generation
     broadband AOL Anywhere services, as well as build subscription and
     advertising and e-commerce growth throughout America Online's brands and
     products.  With leading global brands, cost-efficient infrastructure,
     technological expertise and a shared vision for the Internet age, the two
     companies' complementary assets will act as catalysts to accelerate the
     growth of both subscription and advertising/e-commerce revenues, while also
     creating whole new business opportunities.

     America Online's success has been guided by the principle that mass market
     consumers seek convenience, ease-of-use and trusted brands in their
     Internet experience.  AOL Time Warner will have an unmatched ability to
     provide these through a full range of interactive services delivered across
     current and emerging platforms.  The combined company will be able to lead
     the next wave of Internet growth as