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TIME WARNER ENTERTAINMENT CO ANNOUNCES SEC DECLARES EFFECTIVE TWE'S REGISTRATION STATEMENT RELATING TO TWE'S PLANNED OFFER TO EXCHANGE

 NEW YORK, Dec. 18 /PRNewswire/ -- Time Warner Entertainment Company, L.P. (TWE) announced today that the Securities and Exchange Commission has declared effective TWE's registration statement relating to TWE's planned offer to exchange:
 -- up to $600 million aggregate principal amount of its 9-5/8 percent senior notes due 2002;
 -- up to $250 million aggregate principal amount of its 10.15 percent senior notes due 2012; and
 -- up to $350 million aggregate principal amount of its 8-7/8 percent senior notes due 2012; each for a like principal amount of the corresponding series of TWE's already outstanding privately placed senior notes with an identical maturity and interest rate.
 The exchange offer will expire at 5:00 p.m., New York City time, on Feb. 19, 1993, unless extended. The exchange agent for the exchange is The Bank of New York.
 Time Warner Entertainment Company, L.P., a limited partnership, is principally comprised of Time Warner Cable, Warner Bros. and Home Box Office. It is 87-1/2 percent owned by Time Warner Inc., with Toshiba Corporation and Itochu Corporation each holding 6-1/4, percent limited partner shares.
 Time Warner Inc. (NYSE: TWX) 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- 12/18/92
 /CONTACT: Edward Adler of Time Warner, 212-484-6630/
 (TWX)


CO: Time Warner Entertainment Company; Time Warner Inc. ST: New York IN: ENT SU: OFR

AH -- NY090 -- 0011 12/18/92 14:26 PST
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Publication:PR Newswire
Date:Dec 18, 1992
Words:254
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