Time Warner Welcomes FCC Approval of Adelphia-Comcast Transaction

July 13, 2006, Time Warner Inc. (NYSE:TWX) today issued the following statement in regard to the Federal Communications Commission’s approval of its transaction with Adelphia Communications Corporation and Comcast Corporation:

“We’re very pleased with the FCC’s approval of our Adelphia/Comcast transaction. Now, with virtually all regulatory approvals in hand, we are in good shape to close the transaction by the previously announced target date of July 31. We look forward to providing our new customers with Time Warner Cable’s advanced, digital products and services as well as high-quality customer care.”

About Time Warner Inc.
Time Warner Inc. is a leading media and entertainment company, whose businesses include interactive services, cable systems, filmed entertainment, television networks and publishing.

Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other factors affecting the operation of the businesses of Time Warner Inc. More detailed information about these factors may be found in filings by Time Warner with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Time Warner is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Information

Edward Adler

Media Contact

Time Warner Inc.

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