Jeff Bewkes Time Quotations

This is a very exciting day for Time Warner and its shareholders in the creation of what we believe will be a very strong and viable 5th broadcast television network. This new network will have all the strategic asset value as an outlet for our programming that The WB presented us, but with a much firmer and more secure financial present and future. The credit goes to Barry Meyer, who continues to have tremendous vision and extraordinary business acumen as the long time leader of Warner Bros. Entertainment, a company that we are proud to say continues to be number one in its class.