Time Magazine 2010 Annual Report Download - page 65

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The Company’s forward-looking statements are based on management’s current expectations and assumptions
regarding the Company’s business and performance, the economy and other future conditions and forecasts of
future events, circumstances and results. As with any projection or forecast, forward-looking statements are
inherently susceptible to uncertainty and changes in circumstances. The Company’s actual results may vary
materially from those expressed or implied in its forward-looking statements. Important factors that could cause the
Company’s actual results to differ materially from those in its forward-looking statements include government
regulation, economic, strategic, political and social conditions and the following factors:
• recent and future changes in technology, services and standards, including, but not limited to, alternative
methods for the delivery, storage and consumption of digital media and the maturation of the standard
definition DVD format;
• changes in consumer behavior, including changes in spending behavior and changes in when, where and
how digital media is consumed;
• changes in the Company’s plans, initiatives and strategies, and consumer acceptance thereof;
• competitive pressures, including as a result of audience fragmentation and changes in technology;
• the popularity of the Company’s content;
• the Company’s ability to deal effectively with an economic slowdown or other economic or market
difficulty;
• changes in advertising expenditures due to, among other things, the shift of advertising expenditures from
traditional to digital media, pressure from public interest groups, changes in laws and regulations and other
societal, political, technological and regulatory developments;
• piracy and the Company’s ability to protect its content and intellectual property rights;
• lower than expected valuations associated with the cash flows and revenues at Time Warner’s segments,
which could result in Time Warner’s inability to realize the value of recorded intangible assets and
goodwill at those segments;
• decreased liquidity in the capital markets, including any limitation on the Company’s ability to access the
capital markets for debt securities or obtain bank financings on acceptable terms;
• the effects of any significant acquisitions, dispositions and other similar transactions by the Company;
• the failure to meet earnings expectations;
• the adequacy of the Company’s risk management framework;
• changes in U.S. GAAP or other applicable accounting policies;
• the impact of terrorist acts, hostilities, natural disasters and pandemic viruses;
• changes in tax, federal communication and other laws and regulations; and
• the other risks and uncertainties detailed in “Risk Factors” in this report.
Any forward-looking statements made by the Company in this report speak only as of the date on which they are
made. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-
looking statements, whether as a result of new information, subsequent events or otherwise.
53
TIME WARNER INC.
MANAGEMENT’S DISCUSSION AND ANALYSIS
OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION – (Continued)