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TIME WARNER ANNOUNCES OFFERING OF DEBENTURES

 NEW YORK, Jan. 7 /PRNewswire/ -- Gerald M. Levin, CEO and president of Time Warner Inc. (NYSE: TWX), announced today an offering of $1.0 billion principal amount of Time Warner Inc. 9.125 percent senior debentures due 2013. It is the company's intention to use the net proceeds of the offering to repurchase or redeem outstanding indebtedness, series C preferred stock or series D preferred stock, although any decision to repurchase or redeem will depend on a number of factors, including market conditions at the time.
 The closing of the offering is scheduled for Jan. 19, 1993.
 The underwriters of the issue are Merrill Lynch & Co., BT Securities Corporation and J.P. Morgan Securities Inc. The offering is made only through a prospectus, which may be obtained from one of the underwriters.
 Time Warner Inc. is the world's leading media and entertainment company, with interests in magazine and book publishing, recorded music and music publishing, filmed entertainment, cable television and cable television programming.
 -0- 1/7/93
 /CONTACT: Jeanette P. Lerman of Time Warner, 212-484-6602/
 (TWX)


CO: Time Warner Inc. ST: New York IN: ENT SU:

SM -- NY059 -- 2635 01/07/93 11:46 EST
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Publication:PR Newswire
Date:Jan 7, 1993
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