SEC Filings

HISTORIC TW INC filed this Form 425 on 04/04/2000
Entire Document

RICHARD J. BRESSLER - Executive Vice President, Time Warner Inc. and
                        Chairman and CEO, Time Warner Digital Media

-  Defining the Digital Experience

Our mission in our new combined  company of AOL Time Warner is to really  define
the digital  experience for the consumer.  By fully  integrating the AOL assets,
the distribution system ... the ability of AOL to repurpose our content,  and to
get it to the consumer,  and to integrate  that fully into the Time Warner asset
base,  this  merger  of equals  ... of AOL and Time  Warner  ...  enables  us to
supercharge  that ... to  turbocharge  it. To bring it to the consumer on a more
accelerated basis.

-  Reaching Billions of Consumers

When you look at the power of the new AOL Time Warner,  our products  will reach
over two and a half  billion  people on a  monthly  basis.  We'll  have over 100
million  subscriptions.  Those are people that pay us subscription  revenue on a
monthly basis. And the combined company of AOL Time Warner will generate over 40
billion dollars in revenue in its first full year of operation.

-  A New Company, A New Vision

There is no other Time  Warner out there.  There is no other AOL out there.  And
therefore AOL Time Warner is a company that nobody can duplicate, and it will be
unsurpassed in its success. But maybe even more importantly, nobody else has the
management  that  we've  created  here.  At the end of the  day,  this is  about
execution.  It's about  people.  It's about what we're  trying to create  with a
common vision.

TERENCE F. MCGUIRK - Chairman and CEO, Turner Broadcasting System, Inc.

-  Building Networks

We're in the  business of building  networks  out of content.  When we have more
distribution,  that  fuels  the  economics  underneath  that  business.  And the
opportunity to create more networks and more content off of that distribution is
very high. And that's, I think,  part of the magic of this merger in that as the
distribution  comes,  we have the machine that can build the  networks  that can
fill those pipes.  I've heard AOL'ers recently say, that they don't subscribe to
a world of 100 channels or 500 channels, but really of thousands and hundreds of
thousands and infinite numbers of channels.  And in that world of fragmentation,
of more places to go, I think we will be very successful.

-  Growth in the Merged Company

The  ability  to grow our  analog  business  and our  channels  within the cable
universe  is there.  We'll  continue  the very  strong  growth  that  we've been
providing  for Time  Warner and for the Street  over the last three years of our
merger. We expect accelerated growth out of the Internet. We expect, accelerated
growth  out  of our  association  with  AOL  just  as AOL  expects  to  grow  in
association with us.