Time Magazine 2012 Annual Report Download - page 15

Download and view the complete annual report

Please find page 15 of the 2012 Time Magazine annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 134

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134

This same discipline has enabled us to return almost $15 billion to our stockholders through
dividends and share repurchases since 2009; in fact, we’ve raised our dividend by at least 10%
each year over that time period. It also helped inform our decision to separate Time Inc. into an
independent public company. After a thorough review of options, we concluded it would put both
Time Warner and Time Inc. in the best positions to thrive. And having successfully completed
similar spin-offs in past years of Time Warner Cable and AOL, we expect the spin-off of Time Inc.
will create additional value for our stockholders.
Time Warner is a much stronger and, in many ways, a very different company today
from what it was even a few years ago. But as we evolve, we continue to be guided by a set
of common ideals that underlie our company’s success. First and foremost, we value the
creativity of our artists and independence of our journalists. We also take pride in, and draw
confidence from, the legacy of innovation and industry leadership that infuses each of our
businesses. We believe in diversity as both a social good and a business imperative in an
increasingly multicultural and global marketplace. And we recognize the impact Time Warner
has on the world as a corporate citizen, knowing that by continuing to conduct our businesses
in a responsible and ethical manner, we strengthen our reputation and help foster a better-
connected and well-informed world.
Taken together, our brands, our scale, our people and our culture reinforce Time Warner’s
stature as the preferred home for talent and creativity – giving us great confidence in our
future. On behalf of all of Time Warner’s employees, I want to thank you, our stockholders, for
the trust that you place in us.
Jeff Bewkes
Chairman and CEO
April 3, 2013
This is a scene where Allison Williams’ character, Marnie,
is going for a job as a hostess. I was talking with
my hands, which I do very often: ‘Can I do this, can
I surrender my intellectual ambitions
to keep me alive?’ We were talking about that sort of duality.
Lena Dunham, creator and star of Girls, with
Allison Williams shooting in Soho, New York.
2012 Annual Report 13