Dick Parsons Company Quotations

We wanted to move to a place where our cable company is separately structured, so we'd have cable-based currency to take advantage of further consolidation in the cable space, ... And we wanted to be able to dial up or down our ownership of cable, based on our view of the industry and of the needs of the company at a given point in time.

As Steve is one of our major individual shareholders, we'll look forward to his wise counsel as the company continues to move forward.

Ted Turner's legendary record as a media pioneer and executive at Turner Broadcasting and Time Warner speaks for itself. He is a visionary leader who has made an extraordinary contribution to this company and, indeed, to the world at large.

I'm pleased to report that our company once again posted strong results for the quarter. Revenues rose 4 percent and Adjusted Operating Income before Depreciation & Amortization (in short, OIBDA, the new metric that we are using to track profitability, which is roughly comparable to EBITDA) increased 11 percent.

In the fourth quarter, we'll continue to extend the competitive advantages of our cable company and our other businesses to fuel growth in 2006 and beyond.

In short, our company is strong and getting stronger.