Time Magazine 2013 Annual Report Download - page 29

During the third quarter of 2013, Time Inc. appointed a new chief executive officer and chief financial
officer, who have been reviewing Time Inc.’s existing operating plans and are developing new strategies and
initiatives as part of a new long-range plan. The new long-range plan is intended to enhance the scale of Time
Inc.’s digital platforms and associated revenues, generate new sources of revenues and stabilize operating income
trends. In February 2014, Time Inc. began a significant restructuring plan that includes streamlining its
organizational structure to enhance operational flexibility, speed decision-making and spur the development of
new cross-brand products and services.
Other Television Network Assets
As of December 31, 2013, Time Warner held an approximate 49.9% voting interest and a 65.0% economic
interest in Central European Media Enterprises Ltd. (“CME”), a publicly-traded broadcasting company that
operates leading television networks in Bulgaria, Croatia, the Czech Republic, Romania, the Slovak Republic and
Slovenia. CME also operates Voyo, a Central and Eastern European regional VOD service.
The CW broadcast network (“The CW”) is a 50-50 joint venture between Warner Bros. and CBS
Corporation. The CW’s 2013-2014 schedule includes, among other things, a 5-night, 10-hour primetime lineup
of advertising-supported original programming such as America’s Next Top Model,Arrow,Beauty and the Beast,
The Carrie Diaries,Hart of Dixie,Nikita,The Originals,Reign,Supernatural,The Tomorrow People and The
Vampire Diaries, as well as a five-hour block of advertising-supported, animated children’s programming on
Saturday mornings. Advertising-supported full episodes of The CW’s series are also available on cwtv.com. The
CW programming is also available for streaming through Netflix and Hulu.
Available Information and Website
The Company’s annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K
and any amendments to such reports filed with or furnished to the Securities and Exchange Commission (the
“SEC”) pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), are available free of charge on the Company’s website at www.timewarner.com as soon as reasonably
practicable after such reports are electronically filed with or furnished to the SEC. The Company is providing the
address to its website solely for the information of investors. The Company does not intend the address to be an
active link or to incorporate any information included on or accessible through the website into this 2013 Annual
Report to Shareholders.
Caution Concerning Forward-Looking Statements and Risk Factors
This 2013 Annual Report to Shareholders contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements are based on management’s current
expectations and beliefs. As with any projection or forecast, forward-looking statements are inherently
susceptible to uncertainty and changes in circumstances, and the Company is under no obligation to, and
expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of
new information, future events or otherwise. Time Warner’s actual results may vary materially from those
expressed or implied by the statements herein due to changes in economic, business, competitive, technological,
strategic and/or regulatory factors and other factors affecting the operation of Time Warner’s businesses. For
more detailed information about these factors and risk factors with respect to the Company’s operations, see
“Risk Factors,” and “Management’s Discussion and Analysis of Results of Operations and Financial
Condition — Caution Concerning Forward-Looking Statements” in this 2013 Annual Report to Shareholders.
13