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2008 CORPORATE SOCIAL RESPONSIBILITY REPORT

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Cover Images from left to right: HBO Films’ Life Support, starring Queen Latifah, is a candid look at the HIV crisis through the eyes of a mother, former addict, and AIDS activist. People magazine features the “Heroes Among Us” stories about ordinary people making a difference in their communities. Warner Bros. installed the fi rst photovoltaic system in the entertainment industry, generating approximately 116,000 kilowatt hours (kWh) of clean renewable electricity from sunlight annually. CNN’s “Planet in Peril” is a multimedia investigation into the state of the earth with Dr. Sanjay Gupta and Anderson Cooper.

01 COMPANY AND REPORT OVERVIEW 16 DIVERSITY AND INCLUSION 33 EMPLOYEES AND WORKPLACE 02 Message from our President and CEO 17 Marketplace 34 Listening to Our Employees

03 Time Warner Overview 19 Workforce and Workplace 34 Employee Growth and Development

04 Changing Global Landscape 21 ENVIRONMENT 35 Employee Benefi ts 22 Climate Change 04 Citizenship at Time Warner 36 Health and Safety 25 Forestry and Paper 04 About this Report 38 SUPPLY CHAIN 26 Waste Reduction 39 Ethical Sourcing 05 Broad Engagement 26 Green Building 39 Green Procurement 05 Corporate Responsibility Goals and Objectives 28 ETHICS, GOVERNANCE 40 Supplier Diversity AND PUBLIC POLICY 07 CUSTOMERS AND CONTENT 29 Ethics 41 COMMUNITY 08 Journalistic Integrity 42 Education and the Arts 30 Governance 09 Freedom of Expression 44 Employee Engagement 31 Public Policy 09 Responsible Content

12 Access to Information

14 Recognition and Awards 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

01

COMPANY AND REPORT OVERVIEW

02 A MESSAGE FROM OUR PRESIDENT 05 CORPORATE RESPONSIBILITY AND CEO GOALS AND OBJECTIVES 05 2006-2007 Objectives and 03 TIME WARNER OVERVIEW Progress Update 03 Ownership 06 2008-2009 Objectives 03 Employees and Challenges

03 International Presence

03 Business Segment Profi le

04 CHANGING GLOBAL LANDSCAPE

04 CITIZENSHIP AT TIME WARNER 04 Citizenship Priorities by Business

04 ABOUT THIS REPORT

05 BROAD ENGAGEMENT

Time Warner is built on strong brands and businesses. Images from top left to right: Two and a Half Men, I Am Legend, Planet in Peril, TIME, FORTUNE, and Real Simple magazines, AOL Latino, Ben 10, Time Warner Cable’s All the Best, GreenDailey.com, Recount, The Dark Knight.

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“Time Warner’s commitment to corporate social responsibility Jeffrey L. Bewkes, is one of many ways we achieve long-term growth.” President and Chief Executive Offi cer

A MESSAGE FROM OUR PRESIDENT AND CEO

Time Warner has a proud tradition of leadership. information, diversity of viewpoints, and respon- goals are aligned – including our commitment sibility to community – are also at the heart of to providing high-quality journalism and enter- Our company helped lead the way in creating the our role as a corporate citizen. tainment, offering forums for diverse view- modern media industry. In fact, many aspects points, reducing our environmental footprint, of the media industry that we take for granted We are excited to build on that record of business observing high standards of ethical behavior, today – from weekly magazines to DVDs, and from and civic leadership. As we drive the growth of providing employees with opportunities for Jeffrey L. Bewkes 24-hour news networks to online services – were our businesses through bold digital innovation, development, and giving back to the commun- President and Chief Executive Offi cer pioneered by our predecessors at this company. international expansion, and serving increasingly ities where we do business. diverse populations, we also have a greater Our company also has a record of civic leader- opportunity to help create a more connected, As the world’s leading media and entertainment ship, including being the fi rst major U.S.-based well-informed, and better world. company, our goal is to deliver superior returns media company to issue a comprehensive to our stockholders and exceptional value to corporate social responsibility report in 2006. This Corporate Social Responsibility Report will our customers in a sustainable and long-term way. We believe that delivering a superior return provide you with an overview of our company’s to our stockholders goes hand-in-hand with role as a corporate citizen. You’ll see the many Time Warner’s commitment to corporate social fulfi lling our broader role as a corporate citizen. ways in which our business and citizenship responsibility is one of many ways we achieve Indeed, many of the principles that support long-term growth. I am proud to lead our the success of our businesses – journalistic company in that continuing endeavor. integrity, freedom of expression, access to

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ANNUAL REVENUE (IN MILLIONS) ANNUAL REVENUE FOR THE YEAR ENDED DECEMBER 31, 2007 (IN MILLIONS) A O L CABLE FILMED ENTERTAINMENT NETWORKS PUBLISHING 2007 $ 46,482 $ 5,181 $ 15,955 $ 11,682 $ 10,270 $ 4,955

2006 $ 43,690 TOTAL 2005 $ 41,835 $ 46,482 2004 $ 40,439

2003 $ 38,008 ($ 1,561) INTERSEGMENT ELIMINATIONS

COMPANY AND REPORT OVERVIEW

TIME WARNER OVERVIEW Business Segment Profi le December 31, 2007, Time Warner Cable served television programming services. HBO offers Time Warner Inc. is a leading media and enter- AOL: AOL is a leading global ad-supported Web approximately 14.6 million customers who the most-watched premium subscription tainment company whose businesses include company, with a comprehensive display advertis- subscribed to one or more of its services, rep- television services in the U.S. and produces interactive services, cable systems, fi lmed en- ing network in the U.S. and Europe, Platform-A, resenting approximately 32.1 million reve- some of the world’s most innovative and tertainment, television networks, and pub- a leading social media network, and a worldwide nue generating units. Among its products and widely acclaimed programming. lishing. Our company is home to some of the audience of approximately 250 million monthly services are RoadRunner High Speed Online best-known brands in the industry, from CNN unique visitors as of April 2008. AOL’s suite of and Digital Phone. Publishing: Time Inc. is one of the largest content and TIME magazine to the Harry Potter popular brands and products include AOL.com companies in the world, with a portfolio of more franchise and HBO. (available in 27 countries), AIM, Bebo, MapQuest, Filmed Entertainment: Warner Bros. Enter- than 120 magazines published worldwide. It is Moviefone and Truveo. Many of AOL’s program- tainment is a leader in fi lmed entertainment the largest consumer magazine publisher in the Ownership ming sites are leaders in their categories, and related businesses across current and U.S. and is a leading publisher in the U.K. and Time Warner is incorporated in Delaware, U.S. including Music, Television, Black Voices and TMZ, emerging media and platforms. These include Mexico. As of the spring of 2008, one out of every and headquartered in New York. Time Warner according to comScore Media Metrix. AOL also feature fi lm, television, home entertainment, two American adults reads a Time Inc. magazine, common stock is traded on the New York Stock operates one of the largest Internet subscrip- comic books, brand licensing, international and one out of every six who use the Internet Exchange, under the symbol “TWX.” As of tion businesses in the U.S. cinemas, and broadcasting. In 2008, New Line visits a Time Inc. website each month. Time Inc. December 31, 2007, there were 3.593 billion Cinema began to be operated as a unit of has also extended its most powerful brands – shares of TWX common stock outstanding. Cable: Time Warner Cable Inc. is the second- Warner Bros. People, Sports Illustrated, TIME, and others – largest cable operator in the U.S., delivering to online, mobile, and other media platforms. Employees video, high-speed data, and voice services Networks: The company’s Networks business At December 31, 2007, the company had a total to customers served by technologically advan- segment consists principally of domestic More information about our businesses can of approximately 86,400 employees. ced, well-clustered systems located mainly and international networks and pay television be found at www.timewarner.com. in fi ve geographic areas: New York, the Caroli- programming services. The networks owned International Presence nas, Ohio, southern California,and Texas. As of by Turner Broadcasting System include As of December 31, 2007, Time Warner entertain- popular and trusted brands such as CNN, TNT, ment, networks, programming and interactive Cartoon Network, TBS, and Turner Classic services reached more than 200 countries and Movies. Pay television programming consists territories around the world. of the multi-channel HBO and Cinemax pay

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Warner Bros. Inde- TIME highlights pendent Pictures’, individuals’ exceptional The 11th Hour, was contributions to public a climate-neutral service. production.

CHANGING GLOBAL LANDSCAPE With this Report, we have set out to describe • Enable global access to information • Develop socially responsible content on tele- Issues such as climate change, shifts in the global the ways in which the foundation of our and communication vision and in games targeted toward youth economy, and a new generation of employees citizenship strategy – freedom of expression, • Enable access to content on multiple platforms with new expectations have contributed to the journalistic integrity, access to information, Cable changing landscape in which every company diversity of viewpoints, and responsibility to • Lead the cable industry in the transition from Publishing operates. The media industry faces a unique set community – supports our business strategy. analog to digital broadcast television • Uphold the highest standards of journalistic of challenges and opportunities, as emerging • Implement sustainable environmental efforts independence and integrity technologies and changing consumer habits have We recognize that there is a connection among • Deliver high-quality customer service • Lead the publishing industry in promoting inspired our businesses to explore new and our responsibilities to our employees, custom- forestry certifi cation and sustainable forestry innovative forms of content and means of global ers, communities, and stockholders and that Filmed Entertainment practices by paper suppliers distribution. Technology has enabled us to dis- responsible corporate citizenship helps protect • Combat digital piracy • Nurture diverse viewpoints and coverage tribute content more cost-effectively around the long-term sustainability of our company. • Reduce the environmental impact of fi lm the world, but it also makes it easier for digital production and distribution ABOUT THIS REPORT pirates to copy content and sell it illegally. Citizenship Priorities by Business • Practice ethical sourcing of consumer products The Time Warner 2008 CSR Report includes: Our businesses also face risks relating to com- While some company-wide priorities are driven • Minimize and, when appropriate, eliminate • An update on the objectives we set in 2006, petition for the leisure and entertainment from the corporate headquarters, each business depictions of smoking and tobacco products plus information regarding the progress time of audiences, which has intensifi ed in part segment of Time Warner prioritizes citizenship • Broaden offering of local content for global we made toward reaching those objectives; due to advances in technology. efforts related to its specifi c industries, opera- audiences • A discussion of how we support our com- tions, and core business activities. Below are munities, stockholders, and employees; CITIZENSHIP AT TIME WARNER some highlights. Networks • Highlights of our efforts to reduce our While the changing global context presents us • Practice fair and accurate reporting environmental impact; with new challenges, meeting those challenges AOL • Investigate and report on important issues • A report on our efforts to attract and retain is part of a continuing process that can be • Protect customer privacy • Showcase a diverse range of viewpoints and employees representing diverse backgrounds traced back to the founding of our company. • Provide accessible online parental create opportunities for new voices to be heard and viewpoints; and controls and child-protection tools • Excerpts from interviews with senior executives • Advertise responsibly This Report is issued on July 24, 2008.

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CNN’s iReport enables Time Warner Cable is Bono and Jim Kelly, citizen journalism. the fi rst cable operator Time Inc.’s Managing to partner with Common Editor, during a Sense Media to help “Conversation on the parents make informed Circle,” Time Warner’s media viewing choices. interview sessions with prominent poli- tical, social and envi- ronmental fi gures.

You can learn more about Time Warner’s corporate In addition, over the last three years, we have Below is a list of items identifi ed through our 2 . A clearer articulation of the company’s CSR citizenship, as well as fi nd more examples and worked with Ceres, a nonprofi t coalition of stakeholder discussions, which we have set values and vision; and an explanation of updates concerning the topics discussed in this investors, environmental advocates, and pub- out to address in this Report. how CSR supports Time Warner’s long-term Report, at www.timewarner.com/citizenship. lic-interest groups to help us hear some of fi nancial success (Section 1 and through- the voices that comprise our stakeholders. Identifi ed CSR Opportunities out Report) BROAD ENGAGEMENT 1. Ethical sourcing: guidelines and monitoring 3. More international content The role of a publicly held company is to create This team helped Time Warner identify citizen- system (Section 7) (throughout Report) value for its stockholders. We believe that to ship challenges and opportunities that will 2. Energy and climate assessment: baseline 4. Diversity and its connection to Time Warner’s serve this mission well, we must listen to our strengthen our position as a responsible bus- data and development of reduction business strategy (Sections 2 and 3) many global stakeholders. First and foremost, iness and global citizen. These stakeholders strategy and targets (Section 4) we listen to our investors; we also listen to our have not endorsed or validated Time Warner’s 3. Depiction of tobacco in movies (Section 2) CORPORATE RESPONSIBILITY customers, employees, policymakers, suppliers, 2008 CSR Report, but have provided general 4. A broad view of diversity, which is inclusive GOALS AND OBJECTIVES and debt holders. Honoring our principle of a guidance on approach and areas covered. of sexual orientation, disability, and religion Below is a summary of our progress on the ob- diversity of viewpoints means that we engage (Sections 3 and 6) jectives we outlined in our 2006 CSR Report groups with a variety of opinions. For example, The team is composed of senior-level represent- 5 . CSR mission throughout the company and a description of our goals for 2008-2009. representatives from our Global Public Policy atives from organizations including: (Section 1 and throughout Report) offi ce meet with policymakers on an ongoing American Association for People with Disabilities, 6. Employee engagement and leveraging 2006-2007 Objectives and Progress Update basis to listen to and discuss concerns or issues American Library Association, Calvert Group, their creative strengths to support The following is a high-level update on our prog- about the media industry. Our businesses Ltd., Catalyst, Center for Democracy and CSR (throughout Report) ress on the goals we set and the commitments utilize customer service programs designed Technology, The Conference Board, Forum for we made in our 2006 Corporate Social Respon- to improve the overall customer experience. the Future, Gay and Lesbian Alliance Against Suggestions for Content Enhancement sibility Report. More information can be found Employee Opinion Surveys provide Time Warner’s Defamation (GLAAD), The Heinz Center for 1. Clarifi cation of the difference between in the specifi c sections throughout the Report. employees with a formal and anonymous Science, Economics, and the Environment, editorial and entertainment content mechanism to voice honest feedback about Kaiser Family Foundation, Natural Resources decisions (Section 2) the company. Defense Council, National Recycling Coalition, and World Wildlife Fund.

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Play a Leading Role Use This Guide to Make Warner Bros. believes that everyone Choices for Healthy Oceans can play a leading role in environmental stewardship. By making a few simple Best Choices are abundant, well choices, you can help conserve natural managed and caught or farmed in Warner Bros. Home Video SI.com covers important AOL’s India portal was resources and ensure a healthy environmentally friendly ways. Seafood environment for future generations. included a sustainable sports stories. launched in April 2007. Good Alternatives are an option, ® To learn more about Warner Bros. but there are concerns with how Environmental Initiatives, visit: they’re caught or farmed —or with the seafood watch pocket- www.wbenvironmental.com health of their habitat due to other human impacts. guide with Happy Feet WATCH Brought to you in partnership with: Avoid for now as these items are caught or farmed in ways that harm DVDs distributed in the other marine life or the environment. U.S. and Canada. Visit for more YELLOWFIN TUNA www.seafoodwatch.org detailed information on these and other seafood recommendations. National ©2007 Warner Bros. Ent. Inc. Seafood Guide Contaminant information provided by: The seafood recommendations in this guide are 2007 credited to the Monterey Bay Aquarium Foundation ©2007. All rights reserved. Printed on recycled paper. 112092-90-IN2

Determine our company-wide energy usage that all new employees receive SBC training when toring partners. Information about the company’s value, and create the greatest returns for our and greenhouse gas emissions they join the company. More information about ethical sourcing program is available in Section 7: stockholders. We will continue to recruit and In 2006 and 2007, we evaluated our domestic our ethics and compliance work is available in Supply Chain. promote the best talent to support the company’s environmental footprint. We conducted an energy Section 5: Ethics, Governance, and Public Policy. growth opportunities. More information about assessment initiative to determine Time Warner’s 2008-2009 Objectives and Challenges this goal is available in Section 3: Diversity and energy usage and greenhouse gas emissions. Continue to increase employee satisfaction We are proud of the signifi cant progress we’ve Section 6: Employees and Workplace. We found that overall satisfaction increased made and below are several of our citizenship The purpose of the energy assessment project from 70% in 2004/2005 to 74% in 2006/2007. goals for 2008 and 2009. Enhance ethical sourcing program was to develop a baseline against which we could More information on our employee and wellness We plan in 2008 and 2009 to reinforce our measure company energy reduction efforts, programs is available in Section 6: Employees Reduce our company-wide program by rolling out an information manage- to share best practices among divisions, and to and Workplace. environmental footprint ment system that will include a preferred generate cost savings opportunities. We view our work to date as the fi rst phase supplier database, partnering with industry Create Ethical Sourcing Guidelines in a greenhouse gas and environmental impact peers to optimize our effi ciency, and ex- More information about this effort and its chal- In early 2007, our Board of Directors approved reduction effort. In 2008 and 2009, we plan panding partnerships with organizations that lenges is available in Section 4: Environment. a set of Ethical Sourcing Guidelines for Time to evaluate the feasibility of expanding our car- can help strengthen our supply chain. More Warner. We developed these Guidelines in con- bon footprint analysis, increase employee en- information about this goal is available in Enhance ethics and compliance awareness sultation with more than 100 internal and exter- vironmental awareness, and continue reducing Section 7: Supply Chain. During 2006, we launched a multimedia campaign nal stakeholders. By the end of 2007, we com- energy usage and greenhouse gas emissions at the Corporate level to raise employee aware- municated the guidelines to licensees and in ways that make sense for our businesses. ness around ethics and compliance; the campaign vendors of consumer products under contract More information about this goal is available also extended to several of our businesses. with Time Warner, and began a pilot program in Section 4: Environment. We also developed interactive annual training to help us select third-party compliance moni- programs to refresh ethics and compliance train Support the company’s growth in international ing for current employees. All regular employ- and U.S.-based multicultural markets ees in the U.S. were educated about our Stan- A diverse company helps us to identify the best dards of Business Conduct (SBC), and we require growth opportunities, deliver the best customer

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02

CUSTOMERS AND CONTENT

08 JOURNALISTIC INTEGRITY

09 FREEDOM OF EXPRESSION 09 Election 2008 – The CNN/YouTube Debates

09 RESPONSIBLE CONTENT 09 Telling Important Stories

10 Awareness of Social Concerns

11 Public Service Announcements

12 ACCESS TO INFORMATION 12 Reaching Intended Audiences

12 Parental Controls

13 People with Disabilities

14 Customer Privacy and Online Safety

14 RECOGNITION AND AWARDS

HBO’s Autism: the Musical brings attention to a modern-day epidemic while celebrating the value of the human spirit.

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CNN reporters travel to iReporters cover the TIME reports on inno- the news to bring viewers 2008 U.S. presidential vative ideas that are the breaking stories. election. shaping the world.

Time Warner creates and distributes content that JOURNALISTIC INTEGRITY integrity and accuracy are of the utmost impor- Technology is changing the way that news is deli- informs, entertains, and inspires people of all ages Whether online, on demand, or on television, tance to the brand, and systems are in place to vered and received, and our businesses are and in all walks of life, around the world. It is in we strive to adhere to stringent standards monitor quality control. For example, CNN’s policy applying their standards for journalistic integrity this endeavor that we have the greatest impact of journalistic integrity and to meet the high is that no taped piece goes on air without going to new formats. For example, CNN.com invites on society and are guided by the values on which expectations of our audiences. We expect our through two different approval processes. the public to report on events they observe, in our businesses were founded: journalistic integ- reporters and editors to be fair and honest the form of iReports. Since CNN launched iReport rity; freedom of expression; responsible content; and to confi rm the facts before articles or TV Time Inc. has had a long tradition of journalistic in August 2006, over 100,000 news-related diversity of viewpoints; and access to information. segments are released to the public. At CNN, integrity dating back to its founding in 1923. photos and videos have been submitted from Time Inc.’s editorial guidelines cover important viewers. The pieces that are selected to appear aspects of reporting, writing, and editing, on CNN or CNN.com are subject to the same DISCUSSION POINT: including subjects such as privacy concerns and strict guidelines that CNN applies to traditional Jim Kelly, Managing Editor, Time Inc. confi dentiality. The Managing Editor of Time Inc. reporting. Rather than simply share iReports holds frequent seminars every few weeks with as they are posted, CNN.com verifi es both the groups of journalists and editors to discuss information and the identity of the person who the guidelines in detail and how they apply to submitted it before publicly broadcasting or “Over the last 10 years, it has been interesting to reporter brings his or her own life experiences real life examples. Several hundred employees posting the information online. Thanks to iReport, note how popular journalism with a slant has to their story. To be objective is to be a steno- have already been through the course. CNN – and therefore its audiences – has unparal- become. For example, if you are conservative or grapher and even a stenographer doesn’t leled access to up-to-the-minute, on-the-spot liberal you may be driven to fi nd your news from capture all the nuances. What we strive for at information from anywhere in the world. a source that shares your point of view. At Time Time Inc. is fair journalism. The best kind of Inc., no magazine tries to appeal to a specifi c journalist is never cynical, but is skeptical in a Similarly, at Time Inc., the editorial expectations political constituency. What we hope to do is pro- healthy way. Honest, fair, and straightforward – are as high for content published on the Web duce journalism that is fair, honest and doesn’t those are the kinds of journalists we have at as they are for content published in magazines. play favorites. The idea of producing objective Time Inc. We don’t just talk about journalistic Particularly controversial stories that appear journalism, a phrase that is often debated, is not integrity; we practice it every day in every one on the Web are reviewed by Time Inc.’s Managing possible in good journalism. Any editor or of our magazines.” Editor or Editor in Chief and are vetted before they are published online.

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HBO on Demand HBO Documentary Films’ CNN Heroes highlights delivers children’s Little Rock Central: the extraordinary programming to 50 Years Later is a heroism of ordinary millions of homes candid look at the people. across the U.S. Arkansas school that became a symbol of the struggles and hopes of the Civil Rights Movement.

FREEDOM OF EXPRESSION audiences with the platforms they need to magazines, news programs, and websites have RESPONSIBLE CONTENT It could be argued that no freedoms guaranteed share and amplify their own ideas. achieved their popularity by delivering independ- Determining the quality and social responsibility are more cherished than those protected by the ent, high-quality journalism. of media, especially entertainment, can be dif- First Amendment to the U.S. Constitution. As a We believe in a free and independent press. fi cult. What constitutes an entertaining night at media and entertainment company, we stand A fundamental principle of journalism in Election 2008 – The CNN/YouTube Debates the movies for one person may be provocative for freedom of expression. Whether it is through our networks and publishing businesses is Our commitment to freedom of expression and a and unsettling for another. To us, delivering high- our entertainment, networks, publishing, the ability of reporters to seek out and diversity of viewpoints, coupled with the power quality and socially responsible content does or interactive services, we nurture the creative report the facts without interference from of technology, are continuing to provide innova- not mean limiting the creativity of our fi lm and freedom of our employees, and we provide our government. Our many industry-leading tion in journalism. In 2007, CNN partnered with television producers or the investigative range YouTube to create a new kind of political debate of our journalists. In fact, it means just the that gave ordinary citizens from around the opposite. We encourage our people to bring a country the opportunity to question the presi- multitude of different perspectives to the work DISCUSSION POINT: dential candidates through self-created videos. they produce by spotlighting important issues, Jim Walton, President, CNN Worldwide Approximately 7,900 video questions were sub- provoking debate, and sometimes simply seeking mitted to YouTube for the two national debates. to provide audiences with some respite from The CNN/YouTube debates generated strong daily life. “At CNN, we want to be accurate above all else, Citizen journalism enables people to participate interest among voters, particularly younger timely, and to take our viewers to where the in the news and be a part of the process. CNN Americans. The debates broke audience records, Telling Important Stories news happens. We want to report the news from embraces the changing technology that gives with almost 4.4 million viewers tuning in to the We believe that important stories should be all sides, from every angle, without bias. To do us the tools for us to do our job better – to bring Republican debate on television and more than shared across all of our media platforms. this, we need to have a diversity of thought in more news to more people. It’s not enough for half a million online viewers watching this debate Recent examples include two of HBO’s Emmy® planning the stories we cover and the questions news organizations to report from on high with on CNN.com’s live simulcast, making it the most- Award-winning fi lms: Baghdad ER, which took we ask. We need the positive creative tension only one opinion. Balanced, unbiased news is watched primary debate in cable news history. viewers into a military emergency room in that comes as a result of employing journalists critical in a free society. We are an independent the capital of Iraq, and When the Levees Broke: and producers from different walks of life and and respected news source, and will continue A Requiem in Four Acts, Spike Lee’s probing with different experiences. to do whatever we can to hold on to that spot.” look at Hurricane Katrina’s devastation of New Orleans.

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HBO’s 14-part series, TIME reports on the HBO Documentary Films’ Addiction, brings science behind morality. Sand and Sorrow exam- together the nation’s ines the crisis in Darfur. leading experts on drug and alcohol addiction.

Warner Independent Pictures’ 11th Hour, with three of the leading national substance abuse Tobacco or/producer about the importance of avoiding the Leonardo DiCaprio, focused on the perils of organizations to extend the reach of the content We have steadily reduced the number of fi lms we depiction of tobacco unless it meets the criteria global warming. In early 2008, CNN launched as far as possible into local communities. HBO produce with tobacco depictions, particularly set out in our policy. “Autism: Unraveling the Mystery,” a series of believed that making the project accessible to those intended for younger audiences. Since the special reports that ran on all CNN platforms. as many people as possible by opening its signal, enactment of our tobacco policy in 2005, none Beginning with fi lms released in theaters after CNN.com features an “Impact Your World” streaming all the content for free on the Web, of the G-rated fi lms we produced have included January 1, 2008, Time Warner companies include section of the website that encourages viewers and making the series available free as podcasts smoking references of any kind. In 2007, only an anti-smoking Public Service Announcement to take action and create positive change. would create a meaningful shift in America’s 27% of fi lms rated PG or PG-13 contained (PSA) prior to all fi lms that depict tobacco pro- In addition, CNN produced and launched “Planet approach to addiction. As a result, the campaign tobacco depictions compared to 32% in 2006 ducts for standard defi nition DVDs that are dis- in Peril,” a multimedia worldwide investigation has succeeded in touching tens of millions of and 48% in 2005. Overall, since Time Warner’s tributed in North America. In addition, any fi lm into the state of the earth with Anderson Americans, building new awareness of what we policy was enacted, the number of fi lms we Cooper and Dr. Sanjay Gupta. know about addiction. produce or distribute in the U.S. that contain tobacco depictions has been reduced by 35%. DISCUSSION POINT: Addiction – A Multimedia Initiative Awareness of Social Concerns Our current system of data collection meas- Richard Plepler, Co-President, HBO Our businesses deliver content on multiple plat- We understand that our entertainment program- ures whether a fi lm contains tobacco or not. forms. In 2007, HBO’s “Addiction” exemplifi ed ming also has an impact on culture. Without the ways we are able to deploy our vast media curtailing artistic freedom, we’re sensitive to the Time Warner updated its policy on the depic- “HBO has a long and distinguished tradition of resources to deliver important information implications of the fi lms and television programs tion of tobacco in fi lms in 2007. The policy is addressing important issues through the about a devastating disease. HBO created we produce. available at www.timewarner.com/citizenship. various genres of our programming. Civil rights, “The Addiction Project,” which consisted of a 14- human rights, AIDS, and race are just a few part documentary series; a four-disc DVD set; The policy is now included in the Feature Produc- examples that we have tackled over the years. the book “Addiction: Why Can’t They Just Stop?”; tion Manual for our fi lmed entertainment division, We’re very proud of any small role we play four independent addiction-themed fi lms; and for every fi lm that is produced that contains in helping to elevate these issues further into a robust website; and a national 30-city com- one or more characters smoking, a creative the public dialogue.” munity awareness campaign. HBO also engaged executive has a discussion with the writer/direct-

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CNN’s Impact Your World “Rescuing Recess” is part Turner’s Cartoon helps viewers take action of Cartoon Network’s Network launched to make a difference in effort to promote child- “Get Animated” the world. hood health. to inspire a healthy lifestyle for kids ages 6-14.

on DVD depicting tobacco will contain the follow- by the Institute of Medicine and U.S. Dietary to motivate parents and community leaders In 2007, HBO teamed with the National Basket- ing certifi cation language in the end credits: Guidelines. Cartoon Network also pledged to to become recess monitors for their schools. ball Association (NBA), the Global Business “No person or entity associated with this fi lm integrate positive messages about nutrition In under two years, “Rescuing Recess” has Coalition on HIV/AIDS, Tuberculosis and Malaria received payment or anything of value, or enter- and exercise into its own original programming. received 14 nationally recognized awards (GBC), and the Kaiser Family Foundation to de- ed into any agreement, in connection with the As part of this pledge, Cartoon Network added for community service, program creativity, velop television and radio PSAs that promote HIV depiction of tobacco products.” a new dimension to its “Get Animated” initiative, and effective communication strategies. testing in the U.S. and abroad. Featuring Queen which was launched in 2005 to inspire kids to Latifah and Jamie Foxx, along with leading NBA Childhood Obesity “get active, get healthy, and get involved.” Public Service Announcements players, the PSAs aired on media outlets in the In light of the increasing rates of childhood Public Service Announcements (PSAs) are another U.S., and an international version was distributed obesity, Time Warner companies are responding This new initiative, “Rescuing Recess,” was laun- way that Time Warner is able to help promote throughout Africa, the Caribbean and Asia-Paci- in three ways: by limiting the use of popular ched in 2006 in partnership with several leading awareness about a range of important social is- fi c regions. characters from our children’s television shows child-advocacy groups. Its mission is to build sues. Through an array of our businesses’ media to healthy food and beverage advertising; by greater awareness of the value of daily recess resources in print, interactive, DVD, and televi- Total PSA Contributions launching new initiatives that focus on physical in the lives of elementary students – both for sion, Time Warner provides in-kind media support Time Warner is dedicated to supporting PSA activity as part of overall wellness; and by sup- personal and social health, and for better class- by donating media space to various local and contributions across the company. Over the porting child-advocacy groups. room performance. “Rescuing Recess” sets out national nonprofi t organizations. Many of our last two years, our in-kind media contributions to educate parents, administrators, teachers, donations are made through the Ad Council for PSAs have exceeded: In August 2007, Cartoon Network established and students to become community advocates (www.adcouncil.org). Time Warner’s support guidelines concerning how the network’s original for healthy physical activity as part of their of the Ad Council dates back to 1946 when 2007: $190,000,000 characters may be licensed to advertise food school wellness policies. It also uses high-visibili- Time Inc. provided space in magazines for non- 2006: $250,000,000 or beverages. The guidelines state that when ty campaigns such as “National Recess Week” profi t print ads. More recently, Time Warner Cartoon Network characters are used in mes- Cable and Turner Broadcasting have provided sages aimed at children under the age of 12, TV spots and AOL has provided online space the products in those advertisements must meet to run interactive PSAs. nutritional criteria based on standards issued

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POGO is Turner’s KOL is AOL’s unique site television channel for kids. created exclusively for kids in India.

ACCESS TO INFORMATION primarily for adults. To help ensure that our con- Our networks use a similar rating system, which parents manage their children’s Internet experi- Just as we support journalistic integrity and tent reaches appropriate audiences, we volun- we worked with industry experts to develop. ence, both AOL and Time Warner Cable provide freedom of expression, we support – and, tarily participate in a number of industry-wide The TV rating system divides shows into eight protections that help parents to observe, limit, indeed, our businesses are built on – access rating systems. Ratings enable consumers, different categories based on viewer maturity. or otherwise monitor their children’s online to information. parents, and organizations that carry our con- activities. AOL, for example, offers free parental tent to make informed decisions. Television networks use these TV ratings as guid- control software. Available at parental controls. Changing technologies continue to provide new ance to help determine appropriate scheduling AOL.com, the software offers standard age- opportunities to connect audiences and lay the The best-known rating system includes the G, times for programming and to determine whether based access controls, selective controls on AOL groundwork for a more inclusive global society. PG, PG-13, R and NC-17 ratings developed by parental advisories should be included before instant messaging (AIM) and chat, timers that When asked about CNN’s mission, founder the Motion Picture Association of America and programs begin airing. terminate online access at preset time limits, Ted Turner said it was “to provide information used by all of our fi lm production businesses. and email reports on children’s online activities. to people when it wasn’t available before.” Warner Bros. takes an additional step and uses Warner Bros. Interactive Entertainment and its own internal guidelines to further regulate Turner’s GameTap Entertainment submit their Parents are not required to use these tools, but At the same time that Time Warner is committed how its adult-oriented fi lms are advertised. video games for ratings by the Entertainment AOL actively informs its users that the tools are to making our content accessible to a wider Software Ratings Board (ESRB). This rating available and offers various forms of support audience, we also want to provide customers with For example, Warner Bros. Pictures does not system, developed by the entertainment software to parents to help them use the tools effectively. the tools they need to make informed viewing market R-rated fi lms in print or on television industry, uses symbols to indicate appropriate In 2008, AOL intends to make its parental con- decisions and we seek to make sure that our fi lms, when 35% of the expected target audience is age ranges for players and provides standardized trol software even more widely available on television programs, games, and other content under the age of 17. Furthermore, the studio content descriptors for game elements, such the Internet, which we believe will enhance its offerings reach their intended audiences. does not engage in toy-driven promotions for as violence, that may cause concern for players value to millions of users. any R-rated fi lms and does not attach trailers or parents. Reaching Intended Audiences for R-rated fi lms to G- or PG-rated fi lms. Many of our fi lms, television programs, and doc- Parental Controls umentaries can be enjoyed by people of all ages. We provide parents with tools they need to help In some cases, however, our content is suitable to safeguard their children and that are easy for our customers to understand and use. To help

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“Autism: Unraveling Time Warner Cable pro- the Mystery” was vides parents with a multi-platform the tools they need to CNN event. make viewing choices for their family.

Time Warner Cable and AOL have partnered with which was instituted in 2003, is made across AOL has a contract in place with a vendor that and hard-of-hearing people. In 2004, AOL Common Sense Media, the nation’s leading non- multiple SI platforms several weeks in advance employs people with disabilities to test accessibil- launched AIM Relay Services to allow users to partisan organization dedicated to improving the of publication. ity support developed for priority products. connect with telecommunication relay services impact of media and entertainment on children AOL is also actively engaged in community activ- right from their AIM Buddy Lists on their desk- and families. Through this partnership, Time People with Disabilities ities, and regularly sponsors conferences such tops or their cell phones. In 2007, AOL released Warner Cable and AOL customers receive easy- For people with disabilities, the Internet is more as the Assistive Technology Industry Association website Basic – Accessible Version, a webmail to-access, point-of-decision reviews, ratings and than a convenient way to interact with the world. Leadership Forum and the CSUN Technology and product that was lauded by the National Federa- program information designed to help parents It may be a primary way of expressing choices, Persons with Disabilities Conference, as well as tion of the Blind and other leading consumer make informed viewing choices about TV and handling money and shopping, pursuing personal consumer conventions hosted by the National organizations. Its interface allows users who movies. Time Warner Cable has integrated Com- interests, and being part of a community. Association of the Deaf, Telecommunications for are blind or have low vision to engage in a robust mon Sense Media’s extensive reviews and the Deaf Incorporated, and other organizations. email experience that is highly compatible with recommendations into its cable television and In July 2000, AOL adopted an accessibility policy screen reader software without the need for high speed data services. Time Warner Cable is designed to improve the usability of products In early 2008, AOL tested the fi rst real-time a computer mouse. Users will fi nd it by visiting the fi rst cable operator to partner with Common and services for people with disabilities. instant messaging (IM) feature targeted to deaf http://mail.aol.com and clicking “Accessible Sense Media to help parents make the best and hard-of-hearing users that also offers a Version” on the footer. entertainment choices for their families. The policy begins with educating employees and natural fl owing IM experience for everyone. establishing guidelines for product and techno- Built with guidance from Gallaudet University Warner Bros. makes its releases available with Sports Illustrated Swimsuit Issue logy development, and AOL is currently evaluating and the Trace Research and Development Center open and closed captions for the deaf and hard- Sports Illustrated recognizes that the annual its performance in these areas. Collaboration at the University of Wisconsin-Madison, this of-hearing audience. Warner Bros. DVDs have Swimsuit Issue depicting models in bathing suits with the disability community is also an essential feature is in the latest beta version 6.8 of the captioning or subtitles for the deaf and hard- may not be appropriate for children. Accordingly, component of AOL’s accessibility efforts. popular AIM software that is available as a of-hearing, and some titles have a description subscribers who do not wish to receive the edi- free download at http://beta.aol.com. narration track for the blind. Warner Bros. also tion are given the opportunity to skip to the next issue, thereby extending their subscription with AOL has a history of making its products access- no additional charge. Notifi cation of this policy, ible to a broad and inclusive group of users, and has made great strides on behalf of deaf

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Approximately 25% of AOL’s online education TIME.com’s traffi c helps customers comes from outside better understand the U.S. internet advising.

provides video description, captioning, and Where our web properties and access services how behaviorally targeted advertising works. According to TRUSTe, surveyed companies were subtitles on the enhanced content (extra feat- are concerned, we strive to provide more than The campaign includes banner ads featuring judged according to criteria including the read- ures) of the DVDs of all new theatrical releases. fast access and optimal usability for our millions an animated penguin that explains targeted ability of privacy statements and notices, the ac- In 2006, all 19 Warner Bros. releases were of customers. As part of our commitment to advertising quickly and simply, along with more cessibility to account information and the ability captioned, including Superman Returns, Happy media access, we recognize that protecting details available at PrivacyGourmet.com, to make changes, cookie practices, in-network Feet and The Departed; eight were released customer privacy is critical to the success of the blog run by AOL’s Chief Privacy Offi cer. and out-of-network data sharing practices, choice, with video description. In 2007, all 22 releases our business. We therefore offer consumers regulation, infrastructure, and customer service, were captioned and nine were also released a high level of privacy protection. AOL TRUSTe Award among others. AOL consistently met or exceeded with video description. At Turner, TNT carries In early 2008, TRUSTe, the leading Internet expectations on all 14 criteria. an average of 26 descriptive video service AOL has appointed a Chief Privacy Offi cer and privacy seal-of-approval, and Ponemon Institute, hours per week and TCM carries video descri- created a consumer advocacy and privacy an independent research fi rm, named AOL as RECOGNITION AND AWARDS ption on approximately 35 theatrical features team charged with ensuring best practices for one of the top three Most Trusted Companies Over the years, Time Warner has been recognized per month or approximately 70 descriptive protecting consumer privacy. In February of 2007 for Privacy, following a two-stage survey by many notable media and nonprofi t organiza- video service hours. 2008, AOL announced its participation (along- to gauge the privacy policies and practices of tions. Perhaps the nation’s most prestigious hon- side Google, Microsoft, Yahoo! and others) over 200 companies. The 20 companies rated ors for achievement and meritorious public ser- Customer Privacy and Online Safety in the Internet Safety Technical Task Force. most trusted, in an unaided consumer survey, vice by TV and radio stations, networks, producing Time Warner Cable had approximately 7.6 million Led by Harvard’s Berkman Center and created moved on to the expert review where policies, organizations, individuals, and the Internet are residential high-speed data subscribers at the in cooperation with 49 state Attorneys Gen- practices, and execution were tested for consis- the George Foster Peabody Awards. end of 2007. As of March 2007, the AOL Network eral, the task force evaluates a broad range tent care with regard to privacy issues. receives approximately 110 million average of existing and state-of-the-art online safety The review included an evaluation of policies Time Warner received eight Peabody Awards for monthly domestic unique visitors and operates technologies, including a review of identity and practices, as well as interaction with 2006 and 2007. In 2007 and 2008, our studios one of the web’s best-known portals along with authentication tools to help sites enforce min- support staff. and networks received a total of 16 Academy® a growing family of related websites that inclu- imum age requirements. Awards, in 2006 and 2007 we received a total of des MapQuest and Moviefone. 73 Emmy® Awards. In early 2008, CNN’s digital In April 2008, AOL launched an online education news gathering operations garnered its third campaign to help consumers better understand prestigious honor for innovation at the 59th

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Essence magazine covers important topics effecting our communities.

Annual Technology & Engineering Emmy Awards The GLAAD Media Awards are given for fair, • Family Television Award – for outstanding • The National Council of La Raza – for positive for developing technology that enables journal- accurate, and inclusive representations of the family television in 2006 portrayals of Latinos in 2007 ists to report, edit, and produce news packages lesbian, gay, bisexual and transgender com- from nearly anywhere on the globe. In September munity and the issues that affect their lives. • American Women in Radio and Television’s • The Native Voice Media Awards – for building 2007, the International Broadcasting Conference, Gracie Allen Awards – for positive portrayals bridges to Native American culture through a leading global association guiding content Since the publication of our 2006 CSR Report, of women in entertainment in 2006 and 2007 media in 2007 delivery innovations within the broadcast indus- many other organizations have also found many try, honored CNN with two of its IBC Innovation of our programs worthy of recognition, including: • iParenting Media Awards – for outstanding • Sentinel for Health Awards– for promoting Awards, including a “Judges’ Prize” for the top product in television in 2007 choices for healthier and safer lives in 2006 innovation of the past year. In addition, TIME, • Cable Positive – for AIDS awareness and action In Style, People, Entertainment Weekly and in 2006, 2007, and 2008 • IMAGEN – for positive portrayals of Hispanics • Women’s Image Network Awards– for positive Sports Illustrated collectively won eight Mag- in 2006 and 2007 portrayals of women in 2006 azine Publishers of America (MPA) Digital • EDGE – for entertainment depictions of gun Awards for 2008; they honor the excellence education in 2006 • International Health and Medical Media – for and innovation of magazine brands on digital health and medical programs in 2006 and 2007 platforms. In 2008, the Gay and Lesbian • Environmental Media Awards – for environmen- Alliance Against Defamation (GLAAD) recog- tal awareness and education in 2006 and 2007 • Media Access Awards – for positive portrayals nized People en Español for Maria Morales’ of disability in the entertainment industry in article, “RBD enfrenta la verdad” and Anderson 2006 and 2007 Cooper 360 for the news segment, “The First Casualty.” Time Inc. received two Champion • The National Association for Multi-ethnicity in in Diversity awards in 2008 from the National Communications – for outstanding achieve- Association of Minority Media Executives. ments in original, multi-ethnic cable program- ming in 2006, 2007, and 2008

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03

DIVERSITY AND INCLUSION

17 MARKETPLACE 17 Domestic Market

18 International Market

19 WORKFORCE AND WORKPLACE 20 Human Rights Campaign’s Corporate Equality Index

20 Implementation

Time Warner values diversity in front of and behind the camera. Images from top left to right: Harry Potter and the Half-Blood Prince, House of Payne, The Wire, The Situation Room, Hairspray, I am Legend, Class of 3000, People en Español.

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Turner’s House of Payne Essence magazine has is cable’s #1 ad-support- delivered quality content ed sitcom telecast of to African-American all time. women for 35 years.

DIVERSITY AND INCLUSION

As a leading media and entertainment company, MARKETPLACE We are also reaching diverse audiences with fi lms, television shows, documentaries and maga- Time Warner helps tell the world’s stories to a Domestic Market “mainstream” brands and businesses. For exam- zine articles – will need to change as well. More global audience. Therefore, cultivating diversity – Time Warner is a leader in serving diverse audi- ple, People magazine reaches one out of than 40% of the U.S. population under the age of our content, products, and people – is a ences in the U.S. and has an established tradi- every fi ve Hispanics; nearly one third of HBO’s of 35 is from a diverse background and about half business imperative. tion of building brands to reach these audiences. subscribers are people of color; over 20% the U.S. population growth over the next several For example, HBO Latino has offered Spanish- of “Adult Swim’s” audience is African-American; years is expected to be in the Hispanic community. In recent years, growth in the media industry language programming since November 2000 and “House of Payne” on TBS is cable’s #1 ad- We will need to continue to reach even larger has come increasingly from international and and AOL offers the #1 most-visited website for supported sitcom telecast of all time. diverse audiences with our “mainstream” brands. U.S.-based multicultural markets. Audiences African-Americans, Black Voices, and the #2 As a company, we are investing resources in are becoming more diverse, both in ethnicity most-visited website for Hispanics, AOL Latino. As the demographics in the U.S. continue to change, researching and understanding the changing and nationality, and are expecting greater diver- For 35 years, Time Inc.’s Essence magazine we know that our products – the content of our domestic marketplace so that we can continue sity in content. We are therefore striving to has been the most respected and established become more diverse as a company, both in our magazine for African-American women. With content and in our workforce. We believe that over 200,000 attendees in 2007, the Essence DISCUSSION POINT: achieving more diversity in these areas will Music Festival is the largest yearly gathering Sheryl Hilliard Tucker, Executive Editor, Time Inc. enable us to identify the best growth opportu- of African-American musical talent in the world. nities, deliver the best customer value, and In 2007, the Festival celebrated its 13th anni- “Designing content to meet the needs of a broad the cutting edge of trends, news, and big ideas create the greatest returns for our stockhold- versary in New Orleans, where a portion of viewership is important. When we are looking to make sure we are covering topics in ways ers. Accordingly, we are working to continue its proceeds went to support the Children’s De- at issues surrounding multicultural content or that are exciting, interesting, and fresh to all to foster and promote an internal culture that fense Fund Freedom Schools of New Orleans. diversity, it is important that these issues are of our readers.” values diversity of talent and ideas, as well relevant to a broad readership. We look at our as to identify and aggressively pursue growth content through a diverse lens to increase opportunities in multicultural and interna- our multicultural audience. We also have to tional markets. appeal to younger people who see their world as diverse. It’s important for us to remain on

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AOL Black Voices is the In early 2008, AOL Founded in 1930, People in Español is the #1 website for African- announced the beta FORTUNE magazine is the #1 magazine brand in Americans. launch of www.aol.hk, only business brand with the Hispanic market. a dedicated web destina- editions in Europe and tion in Hong Kong. Asia, including a Chinese- language edition.

to connect with it. In addition to company-wide International Market South America, and Asia. While many of our AOL efforts and research, all of our divisions are International expansion is another opportunity local-language fi lms may never be seen beyond AOL expects to have a presence in more than exploring how best to connect to their markets for growth for our company that is tied to divers- their national borders, we believe they repre- 30 countries by the end of 2008, with content in ways that make sense for them. For example, ity. In pursuing international growth, we seek sent not only important opportunities for our specifi cally designed for local audiences. Time Inc. conducts an in-depth Diversity Con- to form strong local relationships that can help business, but also an important contribution As of this Report’s publication date, AOL has a tent Review of its properties every three years us grow our business. to cultural diversity, local economies, and en- presence in 27 countries, including portals to understand how inclusive we are in print tertainment in their countries. Below are a in the U.K., Germany, France, Austria, Belgium, and online titles. The review looks at a range of In launching new ventures or partnering with few more examples of ways in which we are The Netherlands, India (Hindi and Tamil language topics including the ways its magazines cover existing businesses in other cultures, we start expanding local content to reach new interna- versions), Italy, Spain, Sweden, Switzerland, issues from a wide range of communities and by respecting the talent, experience, and track tional audiences. Poland, Australia, New Zealand, Mexico, Canada, the diversity of the celebrities and newsmakers record of our local partners, suppliers and Hong Kong, and Taiwan. that appear in our content. Time Inc. is also creative collaborators. We also look at a range examining ways to encourage journalists to of CSR-related business issues including the broaden the spectrum of voices in their stories regulatory environment, cultural considera- DISCUSSION POINT: by consciously reaching out to new sources. tions, and labor issues. Maneesh Dhir, EVP, AOL International

Among our divisions, Warner Bros. has gained “The key to delivering a differentiated AOL exper- ence. We evaluate each country before we make considerable experience with this process. ience in each global market is to provide rele- a decision to enter the market. We have chosen Since launching its local-language production vant local services in each country, through local to enter countries that we believe, based on initiative in 1999, the studio has released language websites, partnerships with local both experience and research, have a signifi cant more than 180 such fi lms produced in Europe, companies to deliver content relevant to each audience of consumers who will benefi t from market, and tailored search solutions. When it the range of products, services and content comes to locally-tailored solutions, we believe that we offer. The fundamental benefi t of the it is important to adapt the presentation and Internet is all about the ability to bring a global content in a manner that is appealing to consu- community together, so it is both natural and mers in the markets in which we have a pres- critical for AOL to have a global presence.”

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Pan’s Labyrinth, pro- Waar is Het Paard Van Sports Illustrated duced in Mexico and Sinterklaas is a Dutch China is written in distributed in the U.S. children’s fi lm produced Chinese and covers by Picturehouse, by Warner Bros. Chinese and West- became the highest- ern sports. grossing Spanish- language fi lm of all time in the U.S.

Time Inc. Turner WORKFORCE AND WORKPLACE throughout the company at all levels and in mana- Time Inc. is well established in international mar- In 2004, Turner launched its POGO channel for Attracting and retaining a diverse workforce is gerial positions. The representation of women kets. Its IPC Media unit is one of the U.K.’s con- Hindi-language family and children’s entertain- vital to our success. Time Warner has a broad company-wide in the U.S. in 2007 remained close sumer magazine publishers, and Grupo Editorial ment in India, and the channel has since fl our- and inclusive approach to diversity. We believe to the percentage of total women in the work- Expansión is the third-largest consumer maga- ished. In 2007, POGO produced 150 hours that people from different cultures, ethnicities, force, according to the U.S. Department of Labor zine publisher in Mexico. Time Inc. is active in of original programming in India and now ranks sexual orientations, disability communities, Bureau of Labor Statistics. other markets, too. second in the country in its viewer segment, geographic regions, viewpoints, and genders behind Cartoon Network, also a Turner property. bring important values and qualities to the We also track and look closely at the represent- As of 2008, Time Inc. has over 30 international Also in 2007, Turner formed a joint venture with creation of Time Warner’s products. ation of women and people of color in the top editions of its magazines under licenses with India’s Alva Brothers to launch general enter- levels of our company. In an effort to increase local publishers, including FORTUNE, Golf, Sports tainment television channels in India. In addition, We actively seek to recruit the most talented opportunity, most slates for open positions at Illustrated in China, and FORTUNE and In Style Turner distributes approximately 50 region- and diverse workforce. Over the last four years, the Vice President level and above must contain in Turkey. When Time Inc. expands internationally, specifi c versions and local-language feeds of the percentage of people of color has increased a diverse set of applicants including women it makes great efforts to select a partner that Cartoon Network, Boomerang, Turner Classic shares Time Inc.’s values. Time Inc. also reviews Movies, and TNT in over 175 countries around and discusses its editorial guidelines with the the world. DISCUSSION POINT: new partner. Lisa Quiroz, Senior Vice President, Corporate Responsibility, Time Warner Inc.

“For us, diversity is composed of three critical are valued. Third, all of our businesses contin- areas. First, we focus on attracting, hiring, uously examine emerging and diverse market- and developing the best and most talented place opportunities in the U.S. and abroad. workforce, and that talent comes from all More importantly, when we think of diversity of sectors of our society. Second, we make sure people, we don’t just think of racial and ethnic our employees have an inclusive work ex- designations, we think of gender, geography, perience where their thoughts and opinions people with disabilities, and sexual orientation.”

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U.S.-BASED REPRESENTATION – PEOPLE OF COLOR U.S.-BASED REPRESENTATION – WOMEN Total % of Managerial Positions Total % of Managerial Positions Total % of People of Color* held by People of Color* Total % of Women by Women* held by Women*

2007 39% 2007 28% 2007 41% 2007 42% 2006 38% 2006 27% 2006 41% 2006 41% 2005 35% 2005 25% 2005 43% 2005 41% 2004 34% 2004 24% 2004 43% 2004 42% 2003 33% 2003 24% 2003 44% 2003 42%

*Managerial positions include Top Management, Vice Presidents, Directors, Managers, and Professionals *Managerial positions include Top Management, Vice Presidents, Directors, Managers, and Professionals

and people of color. Many candidates for top man- and Transexual network), Alianza (HBO’s Hispanic Across all our businesses, our senior executives Time Warner’s 100 rating represents the fact agement positions are promoted from within Employee Networking Resource), BE@T (Black champion inclusion through communication that the company offers equal benefi ts and the company, and thus our efforts to hire women Employees at Time Inc.), APLAWD (AOL People to employees and customers, and by fostering protections for its employees based on gender and people of color into manager and director Living and Working with Disabilities)and TWWN an environment that encourages healthy debate. identity or expression and sexual orientation. positions are a long-term strategy to increase the (Time Warner Women’s Network). At many diversity of our top management. divisions, senior executives act as sponsors for In a global marketplace, we know that diversity Implementation these affi nity groups where they help provide is a business imperative. We believe that achie- Each division has an annual plan for diversity Finally, we work to make sure that we are not only guidance and act as a senior-level springboard ving greater diversity will enable us to identify that supports multicultural market expansion, attracting and hiring the best and most diverse for ideas. the best growth opportunities, deliver the best work-force diversity development, and work- talent, but also are retaining that talent as appro- customer value, and create the greatest returns place inclusion. Progress toward reaching priate by creating an inclusive work environment. Most of our businesses have also rolled out div- for our stockholders. the goals is considered by Time Warner senior As of the end of 2007, all Time Warner divisions ersity training and awareness programs that management when assessing the division CEO’s include identity, expression, or other legally are included as part of the overall training given Human Rights Campaign’s Corporate year-end compensation. We hold quarterly protected classifi cation in all EEO non-discrimina- to newly hired and newly promoted supervisors. Equality Index meetings of a cross-divisional Diversity Group tion or anti-harassment policies. In addition, Time Warner earned a perfect score of 100 on chaired by Time Warner’s Senior Vice President, most of our divisions provide fi nancial support the Human Rights Campaign’s Corporate Equality Corporate Responsibility to share best prac- to employee-based affi nity groups – professional Index (CEI) for 2008. The Human Rights Cam- tices, lessons learned, and ideas for enhancing development networks for diverse populations – paign is America’s largest civil rights organiza- diversity and inclusion on a company-wide basis. as one way to cultivate an inclusive work environ- tion working to achieve gay, lesbian, bisexual, ment. Examples of our affi nity groups include and transgender equality. The CEI rates employ- OUT@TW (Corporate’s Gay, Lesbian, Bisexual, ers on a scale from 0 to 100 percent based on their treatment of gay, lesbian, bisexual, and transgender employees, consumers, and investors.

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04

ENVIRONMENT

22 CLIMATE CHANGE 22 A Company-wide Approach

22 Energy Usage and Greenhouse Gas Reduction: A Local Effort

25 FORESTRY AND PAPER

26 WASTE REDUCTION

26 GREEN BUILDING

Time Warner is committed to reducing our environmental footprint and to raising employee and customer awareness about environmental issues.

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2007 SCOPE OF COMPANY VS. GREENHOUSE GAS EMISSIONS ASSESSMENT 2007 GREENHOUSE GAS EMISSIONS*

SCOPE 1: SCOPE INCLUDED IN TIME WARNER NOTES 101,222 CO2e (12%) MEASUREMENTS SCOPE 2: (80%) 666,006 CO2e SCOPE 3: 1 Natural gas, fuel oil, refrigerants, Scope 1 and 2 measurements consist of energy usage at 62,236 CO2e (08%) company-owned aircraft U.S.-based owned and leased properties and include a combination of actual data and estimated data. When act- 2 Purchased electricity and steam ual data was not available, estimates were made using a national sample survey of energy data from the U.S. * Scopes are defi ned in table to the left. Department of Energy (the Commercial Building Energy Consumption Survey or CBECS). Properties include, 2006 VS. 2007 EMISSIONS FROM PURCHASED ELECTRICITY AND STEAM* but are not limited to, studios, warehouses, offi ce space, (C02 IN METRIC TON EQUIVALENTS) server farms, and cable hubsites. Excluded are com- pany-owned or leased vehicles. 2006 Scope 2 Data 2007 Scope 2 Data TOTAL C02 EQUIVALENT 638,108 CO2e 666,006 CO2e 3 Business travel (originating in the U.S.) Scope 3 measurements consist of business travel origin- ating in the U.S. and arranged through Time Warner’s CO2E PER SQUARE FOOTAGE .02 CO2e/sq. footage .02 CO2e/sq. footage Travel Departments. Not included are taxi rides, daily em- ployee commuting or supply chain emissions. CO2E PER EMPLOYEE** 8.1 CO2e/employee 8.9 CO2e/employee EQUIVALENT PASSENGER CARS 388,748 cars 405,754 cars DRIVEN FOR ONE YEAR * Purchased steam was only included in the 2007 inventory and accounted for 121 CO2e. ** Per employee number is calculated using the number of U.S.-based employees as of December 31, 2006 and 2007. ENVIRONMENT

Environmental issues have become an impor- CLIMATE CHANGE In 2006, we decided to focus on electricity usage Energy Working Group tant topic with nearly every major news outlet As we indicated we would in Time Warner’s 2006 at domestic owned and leased properties, which While the effort was led by the company’s corpor- providing coverage of issues ranging from CSR Report, we conducted an energy assessment are a major source of our greenhouse gas emis- ate headquarters, the expertise, experience, the science of climate change to its economic initiative to determine the greenhouse gas (GHG) sions and the highest percentage of our energy and data resides with the company’s real estate, effects. Our publishing and fi lm businesses emissions associated with energy usage at our expenditure. We kept the focus narrowed to environmental, and facilities managers across have produced scores of articles and many domestic properties and with select U.S.-origi- electricity usage at domestic owned and leased the U.S. As we embarked on this effort to assess movies addressing pertinent environmental nated travel. We also shared best practices for properties because it allowed us to test our our company-wide domestic energy usage, issues. Stories about the effects of global energy reduction among divisions. process for gathering the data and measuring we created an Energy Working Group. Together, warming have even appeared in FORTUNE the GHG emissions associated with our elec- this cross-divisional working group developed and Sports Illustrated. A Company-wide Approach tricity usage. In 2007, after we had successfully our domestic baseline of energy usage and With guidance from ICF International, a global measured the electricity-usage, we expanded greenhouse gas emissions. As we move forward, In addition to addressing climate change and professional services fi rm, we focused the the parameters of our measurements to in- this Energy Working Group will continue to meet energy effi ciency, our company’s environmental scope of the energy assessment initiative on clude GHG emissions from other fuel sources, to share best practices in energy management. stewardship activities include our waste reduc- U.S.-based owned and leased properties and company-owned aircraft, and business travel tion initiatives, sustainable forestry and paper on select U.S.-based operations. We broke that is arranged through Time Warner’s Travel Energy Usage and Greenhouse Gas Reduction: practices, and green building design. the assessment into three defi ned scopes Departments and originates in the U.S. A Local Effort (details above). Many of our businesses have been addressing environmental issues for decades. Much work has already been done at each of our divisions

22 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

AOL is a leader in Time Inc. and partners Warner Bros.’ Oscar- energy effi ciency in expanded the ReMix winning Happy Feet data centers. program to promote highlights the impacts recycling in NYC. of over-fi shing and marine pollution.

to reduce usage and emissions. In the past two Highlighted here are other examples of the ways considered a PUE below 2.0. Since early 2002 After considering what would be both ambitious years, our divisions have altered their infrastruc- in which our divisions have made efforts to exa- through early 2008, AOL’s remaining data cen- and practical, Time Inc. became the fi rst U.S. tures and changed their business processes and mine and reduce their greenhouse gas emissions. ters have consistently demonstrated an average publisher to set targets for producing less green- procedures, with the goal of reducing energy use. PUE of below 1.6. In addition, AOL participates house gas throughout its supply chains. Time AOL – Energy Usage Reduction at Offi ce in the U.S. EPA’s “ENERGY STAR” program. It is Inc. asked the paper companies to reduce carbon U.S. EPA’s SmartWay Transport Partnership Facilities and Data Centers estimated that activation of this feature on AOL emissions 20% from a 2004 base by the year Time Warner’s Corporate Transportation & Logis- AOL has implemented energy conservation mea- employee computers prevents 30 tons of CO2 2012. Some suppliers pointed out that they had tics group joined the U.S. Environmental Protec- sures across its Northern Virginia offi ces that emissions annually. already achieved some reductions before 2004 tion Agency’s SmartWay Transport Partnership have reduced the energy usage by approximately and felt they deserved credit for their leadership in 2007 to demonstrate our commitment to 22% over 2005 usage data, which represents a In April 2008, AOL was a Best-in-Class Imple- role. To accommodate these suppliers, Time Inc. reducing greenhouse gas emissions and improv- 6,300 ton reduction in CO2 emissions, and saves mentation Winner for the 2008 Uptime Institute set some alternative but equally challenging goals. ing the fuel effi ciency of freight transportation. AOL approximately $300,000 annually in energy Green Enterprise IT Awards in the category Keeping the same target year of 2012, the paper As of May 2008, we are the only media and costs. Much has been written about “Green IT” of Facilities Site Physical Infrastructure (power companies have the options of cutting carbon entertainment company participating in the with respect to the infrastructure associated with and cooling) Overhead. output by 25% from a 2000 base or 30% from SmartWay Transportation Partnership. As a data centers and their round-the-clock computer a 1996 base. shipper partner, Time Warner is committed to servers, which require energy to run the systems Time Inc. – Lifecycle Analysis fuel effi cient practices, and supporting Smart- and to cool the temperature of the equipment. Time Inc. was the fi rst publisher to measure the More information about Time Inc.’s environmental Way carrier partners. We do this by encouraging greenhouse gas emissions of the entire supply efforts can be found in Time Inc.’s 2007-2008 carriers to join the program, promoting air-to- The energy conservation and effi ciency measures and disposal chain of two popular magazines, Sustainability Report at www.timewarner.com/ ground mode shift and other fuel saving practices, at the AOL data centers demonstrate results. from logging operations to landfi lls. Through this citizenship. increasing shipping with SmartWay partner Industry experts use metrics called the Power landmark study, Time Inc. and its partners, carriers, and encouraging third-party logistics Usage Effectiveness (PUE) to measure the energy Stora Enso, Canfor, Home Depot, and the H. John providers to seek out SmartWay carriers for effi ciency of data centers. Excellent results are Heinz Center for Science, Economics and the our shipments. We also let transportation Environment found that manufacturing pulp vendors know that bidding preference is given and paper uses a signifi cant amount of energy. to SmartWay partners.

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Turner employees in the Time Inc. was the fi rst U.S. and Europe are dedi- publisher to measure cated to reducing their the greenhouse-gas environmental impact. emissions of the entire supply and disposal chain of two popular magazines.

Time Warner Cable – Fleet Management Turner Broadcasting - Clean Air Warner Bros. – Energy Effi ciency at the the production of each DVD, to fi nd effi ciencies Time Warner Cable installed workforce manage- Commuter Program Studio Lot in WHV and supply chain production processes, ment systems (WMS) in almost all fi eld divisions Turner Broadcasting encourages employees at its Since 2002, Warner Bros. has made an ongoing and to deepen relationships among suppliers. in 2007. The WMS is designed to help fi eld tech- Atlanta headquarters to fi nd green alternatives investment in energy effi ciency that continues Warner Bros. has partnered with Wal-Mart nicians improve overall responsiveness to cust- to their daily commute by providing employees to save the division over 8 million kilowatt-hours to participate in Wal-Mart’s carbon scorecard omers while cutting their fuel usage. The WMS with a menu of environmentally responsible opt- of energy and approximately $1 million annually. pilot effort. achieves these results by adjusting vehicle routes ions. Employees who participate in Turner’s Energy effi cient conservation retrofi ts include to maximize time available for customer service, Clean Air Commuter Program can select their high effi ciency lighting, occupancy sensors and What’s Next: minimize miles traveled, reduce average speeds, preferred method of travel from a variety of timers, high effi ciency HVAC, thermostat controls, We view our company-wide environmental work and even avoid left turns that result in idling options. These include a van-pool effort that and variable speed motors. Warner Independent to date as the fi rst phase in a larger effort. time at stoplights. matches groups of employees by neighborhood Pictures’ The 11th Hour was a climate-neutral As we continue this effort to reduce our green- and provides van service for group transporta- production whose emissions were offset by house-gas emissions we are already: Time Warner Corporate Headquarters – tion to and from the offi ce; assistance in iden- investments in wind energy. Energy Conservation tifying carpool partners and special parking 1. Evaluating the feasibility of including interna- Time Warner occupies approximately one-third of privileges for carpoolers; access to a Guaran- Warner Home Video – DVD Production tional facilities and other emission sources the Time Warner Center building in New York teed Ride Home, a program that provides comp- Carbon Footprint Analysis in GHG measurements and reduction efforts City. The complex, which houses CNN broadcast limentary transportation if unforeseen circum- In 2007, Warner Bros. Home Video (WHV) con- 2. Increasing company-wide employee awareness space, corporate offi ces, and a conference center, stances such as working overtime or needing ducted a DVD carbon footprint analysis to 3. Reducing energy usage and greenhouse gas was designed to require 35% less energy than to pick up a sick child from school interfere with understand the greenhouse gas impacts of emissions the usage allowed by the New York State energy planned commute alternatives; and free weekly energy use and transportation in the manufact- 4. Piloting reduction programs code. Among multiple environmentally friendly public transportation passes. uring and distribution of its DVDs. The analysis, practices, unused lights in the conference cen- part of WHV’s larger commitment to climate ter are kept off when an event is not occurring change leadership, is intended to change how and plasma TVs are turned-off after hours in energy is used within the division and its supply an effort to conserve energy and reduce green- chain. The goal of the analysis is to quantify house gas emissions. the amount of carbon emitted as a result of

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Time Warner employees HBO is active Warner Bros. has a can visit the company in reducing its 15-year long tradition of intranet to learn about environmental leading the industry in reducing their carbon impact. environmental efforts. footprint.

FORESTRY AND PAPER ReMix – Recycling Magazines is Excellent In early 2008, Time Inc. launched ReMix in New and other packaging materials. We estimate that Because of the enormous volume of paper requi- In recent years, the demand for recycled paper York City, where residents throw away more these changes can prevent the emission of appro- red to publish magazines, sustainable forestry has surged and the supply has not kept up. than 400,000 tons of recyclable paper each ximately 1,311,800 pounds of greenhouse gases, and responsible paper use are most relevant for In 2004, Time Inc. launched a program called year – enough to fi ll the Empire State Building. conserve approximately 5 million gallons of water, our Time Inc. division. For nearly 20 years, Recycling Magazines is Excellent (ReMix) in part- For the New York City campaign, the original save more than 8 million BTU’s of energy, and save Time Inc. has been a prominent player in global nership with Verso Paper and the National partners have been joined by Hearst Corp., more than 12,500 trees annually. Warner Home sustainable forestry – the practice of harvesting Recycling Coalition. ReMix is a national public Pratt Industries, Time Warner Cable, and the Video also announced that it would release two trees in a way that does not deplete forests, education campaign aimed at increasing the nonprofi t Council on the Environment of New titles, Darfur Now, and The 11th Hour, with 100% hurt wildlife or damage the landscape. Sustain- recycling of magazines and catalogs. In addi- York City. Ads to promote the ReMix program certifi ed sustainable packaging that is made in able forestry helps confront global warming tion to helping meet the global demand for in New York City have run on subways, buses, the U.S. without petroleum products. The papers head on and is a good business practice. Through paper, recycling helps curb global warming by bus shelters, and taxis, as well as in movie are 100% post-consumer recycled stocks, the Time Inc.’s Certifi ed Sustainable Forestry pro- limiting the need to harvest trees to produce theaters and through Time Warner Cable. More inks are soy-based, and the shrink-wrapping is gram, the division has increased the amount of new paper and by lowering the amount of meth- information about Time Inc.’s environmental made of biodegradable corn. certifi ed fi ber in its magazines from 25% in ane released by decaying paper in landfi lls. efforts is available in its 2007 – 2008 Sustain- 2002 to approximately 70% in 2006 with a goal Successful ReMix programs are currently oper- ability Report which is available at www.time- In-store displays are also going green. of 80% by 2009. ating in Boston, MA; Prince George’s County, warner.com/citizenship. Warner Home Video now designs product displays MD; Milwaukee, WI; and Portland, OR. ReMix in ways that conserve natural resources and This was achieved by developing strict standards has had a measurable positive impact. Boston, Warner Home Video minimize over-all environmental impact. Initia- and working in partnership with governments for example, saw an 18% increase in magazine In the spring of 2007, Warner Home Video chan- tives include: redesigning the display pallets and landowners who provide the majority of fi ber recycling, Prince George’s County went up ged to chlorine-free, 30% post-consumer recy- to use approximately 25% less corrugated to the U.S. marketplace. 19%, and even Portland, where citizens are al- cled paper for wraps, inserts, slipcases, sleeves, paper; using approximately 35% recycled fi ber- ready frequent magazine recyclers, achieved fl uting and approximately 18-25% recycled a 3% jump. content liner board; switching to water-soluble and biodegradable inks with no heavy metals; and eliminating corrugated fi llers.

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In early 2008, FORTUNE Time Inc.’s publications magazine hosted a Brain- and websites play a lead- storm Green conference ership role in alerting for business leaders. the public to the dangers of climate change and helping them understand the action that needs to be taken.

WASTE REDUCTION HBO Time Warner Cable – Electronic Billing, of valuable materials from the division’s offi ce In addition to sustainable forestry efforts and HBO has a program in place to recycle offi ce Reduced Packaging, and Set Top Boxes and production areas. In 2007, donations recycled paper efforts, our businesses work supplies and equipment. In 2006, HBO sent 94 To reduce paper consumption and save money, included set materials from the Ocean’s 13 to reduce their environmental footprint by PCs and other computer-related equipment Time Warner Cable has set out to drive customer production to Habitat for Humanity and the limiting the resources required for products, to Dell’s Asset Recovery Program, through enrolllment in electronic bill payment to 30% Los Angeles Community College District; and packaging, and distribution and by cutting down which Dell properly disposes of end-of-life PCs. by the end of 2008. The company estimates that thousands of costumes and props to non- the amount of waste produced throughout In 2007, this number doubled. In 2006 and the incremental electronic bill payment and profi t organizations and local theater groups. our businesses. Following are a few examples of 2007, HBO also donated 673 computers and paperless billing enrollments could save Time In addition, Warner Bros. facilities recycle reduction efforts happening at our divisions. monitors to the Department of Education in Warner Cable approximately $6 million per year, 100% of all scrap corrugate, cartons, dunnage, New York City. reduce late payments, and cut down on customer and storage pallets. More information about AOL churn. Time Warner Cable is also working with Warner Bros.’ environmental stewardship efforts Although AOL recycles the usual materials (paper, HBO works with a kitchen-grease disposal com- its vendors to improve recycling of set-top box can be found at www.wbenvironmental.com. glass, aluminum cans, plastic bottles, cardboard, pany to recycle 100% the cooking oil used in packing materials. This will support environmen- cell phones, batteries, CDs, toner cartridges, and the network’s New York City cafeteria into high- tal efforts, and reduce the amount of money GREEN BUILDING shipping pallets), non-recyclable trash remains. energy fat for use in animal feed or biofuel that Time Warner Cable pays its vendor for the In 2006 and 2007, Time Warner’s divisions used that can replace fossil fuel in industrial environ- materials. Finally, Time Warner Cable is working the lens of green building when embarking on This non-recyclable trash from the AOL facility ments. HBO also donates set materials to various with its vendors to improve the energy-effi cien- new real estate development, retrofi tting efforts in Dulles, VA goes to a waste-to-energy-recovery nonprofi t organizations as part of its recycling cy of set-top boxes and develop a policy that or retrocommissioning endeavors. For example, facility where the trash is burned to generate program and created an in-house Environmental restricts the use of environmentally harmful HBO improved the effi ciency of its New York City electricity, rather than entering the landfi ll. AOL Awareness Handbook that provides various substances in the creation of set-top boxes. offi ces by completing cost-saving effi ciency also has a computer recycling program, where tips on reducing the environmental impact of measures, such as insulating the steam pipes usable desktop computer systems (CPU, monitor, HBO productions. Warner Bros. – Set Materials, Home Video, that enter the building and improving cooling accessories) are donated to charity, sold at low- and the Studio Lot effi ciency in the data center. cost to employees, or recycled appropriately. Warner Bros. reuses materials whenever possible. In 2007, AOL donated over 3,700 desktop com- Warner Bros.’ Encore: A Community Reuse Part- puter systems to charity and recycled over 420 nership continues to provide local schools and computer systems. nonprofi t organizations with hundreds of tons

26 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

In 2007, Time Inc.’s IPC Warner Bros.’ LEED™ Media moved into their Silver certifi ed green environmentally friendly building is the fi rst headquarters, the Blue in the industry. Fin Building in London.

AOL – LEED Certifi cation or renovated four buildings using the LEED York City is also targeted to be certifi ed to LEED- Learn More about Time Warner’s In the U.S., the Leadership in Energy and Environ- design standards as guidance. AOL’s new child- Silver standards. MapQuest buildings in Denver Environmental Efforts mental Design (LEED) Green Building Rating care center, which is anticipated to be the and Pennsylvania refl ect green design standards You can learn more about Time Warner’s environ- SystemTM is one benchmark for the design, fi rst childcare facility in Virginia that is LEED- with renewable materials (e.g. bamboo fl ooring, mental efforts, read Time Warner’s company- construction, and operation of high performance Silver certifi ed, was completed in November recycled content countertops), low volatile paints, wide environmental statement, and download green buildings. In 2006 and 2007, AOL built 2007 and AOL’s headquarters building in New carpets, and furniture, and energy management Time Inc.’s 2007 – 2008 Sustainability Report systems. at www.timewarner.com/citizenship.

DISCUSSION POINT: Warner Bros. – Solar Powered Building To learn more about our green procurement Alan Horn, President and Chief Operating Offi cer, In 2004, Warner Bros.’ retrofi tted the Interna- efforts, please go to Section 7: Supply Chain Warner Bros. Entertainment tional Television Distribution (ITD) building on page 38. in Burbank,CA. This retrofi t cut energy use in “Sustainability requires long-term thinking. Here again, we are utilizing long-term thinking the building by 40% and subsequently earned I’m proud that the studio has joined me in sup- and have proven the cost savings of designing it a 2006 Green Building of the Year award from porting longer-term investments that are with sustainability in mind. We will always con- the Building Owners and Managers Association now paying off signifi cantly. My favorite is the tinue to improve our production footprint and (BOMA). In addition, in 2006 Warner Bros. solar energy project. There’s something hopefully do a better job of explaining to the installed a 72-kilowatt solar electrical system, exciting about being able to harness sunlight public what we do; it demonstrates that this the fi rst in the industry, on the historic Mill and use it to help power our studio facilities. is a quality-driven company that also cares. Building where skilled craftsmen build sets for We are already thinking about putting up As far as talent goes, many actors are already the company’s fi lm and television shows. This more panels and taking advantage of our loca- involved and interested in environmental solar system generates enough clean, renew- tion, climate (sunny California!) and the roof issues, so working here validates their values able energy each year to power the equivalent space we have available. The other initiative that and ultimately makes them better spokes- of approximately 25 homes. I’m very proud of is our LEED Silver building, people on these issues. And we all know how as well as our integration of green building prin- powerful that can be.” ciples into all of our projects.

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05

ETHICS, GOVERNANCE, AND PUBLIC POLICY

29 ETHICS 29 Standards of Business Conduct

30 GOVERNANCE 30 Board Relationship to Corporate Social Responsibility

30 Board Composition

31 Board Compensation

31 Stock Ownership

31 Responsiveness to Stockholders

31 More Information

31 PUBLIC POLICY 32 Membership in Associations

32 Time Warner Political Action Committee

An unwavering commitment to ethics is a core value of Time Warner. In 2007, we launched an employee-based awareness campaign, and employees were invited to submit poster ideas to increase involvement.

28 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

The winning Ethics and Information about Time Compliance employee- Warner’s governance awareness poster practices is available at was chosen from over www.timewarner.com. 50 entries.

ETHICS, GOVERNANCE, AND PUBLIC POLICY

ETHICS and customers fi rst, and steering clear of ex- We have also provided additional training to those In 2007, Time Warner was recognized by Ethis- At Time Warner, we are committed to fostering cesses and ethical lapses. The Standards of employees involved in conducting international phere Magazine as one of the world’s most a business environment where fair, honest, Business Conduct are available at www.time- business to support compliance with the Foreign ethical companies – one of only two media and respectful dealings with each other, our cust- warner.com under Corporate Governance. Corrupt Practices Act (FCPA). As we continue entertainment companies awarded this honor. omers, stockholders, competitors, suppliers, to expand our company’s international business We also devote substantial resources to our government agencies, and communities are Since business situations can often be complicat- dealings, training and awareness of the FCPA system of internal control over fi nancial report- everyone’s responsibility. Our unwavering com- ed or unclear, and the laws governing ethics and and anti-corruption laws will continue to be a ing and compliance programs that are designed mitment to the highest ethical standards of compliance are numerous, a strong compliance focus for 2008 and beyond. to provide that the company’s fi nancial state- business conduct is a core value that is strongly environment needs more than codes of conduct. ments and disclosures are accurate and complete, endorsed at every level of management. It also requires training, education, and em- We welcome questions and concerns about any and in accordance with the applicable legal ployee trust. To that end, we pledged that by the conduct that may run counter to our values, requirements in all material respects. As part Standards of Business Conduct end of 2006, all regular employees in the U.S. and we will not tolerate retaliation for concerns of this effort, specialized training is provided to In 2004, our company’s Board of Directors revi- would be trained on the Standards of Business raised or reported in good faith. We want our fi nancial executives and lawyers to assist them sed and strengthened our Standards of Business Conduct and we are pleased to report that employees to understand that Time Warner’s in implementing standards effectively and to Conduct, which applies to corporate employees goal was met. In addition, new hires who are Ethics and Compliance representatives work not provide guidance on abiding by the comprehen- and serves as a model for similar codes of con- regular domestic employees of Time Warner only to safeguard the company’s reputation, sive internal controls and compliance proce- duct adopted at each of Time Warner’s business are required to receive training on the Stan- but also to protect employees from unsafe, dures we have in place. units. Our Standards of Business Conduct stress dards shortly after their arrival at the company, unethical or criminal conduct in the workplace. the importance of abiding by the law, being and annual ethics and compliance training is A recent employee survey confi rms that our Enforcement is also key to an effective ethics truthful, being transparent in our business deal- also conducted for existing employees. Ongoing employees know they can report concerns with- policy. A Corporate Compliance Review Committee ings, putting the needs of our stockholders, efforts in this area include multimedia training out jeopardizing their status in the company meets regularly to review individual compliance programs, as well as an award-winning aware- and know who to contact for guidance on ethics matters for the entire company. The Audit and ness campaign, that use a variety of media and and compliance issues. Finance Committee of the Board is responsible print outlets to reach our employees. for reviewing and recommending changes to the

29 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

The CNN YouTube debates broke ground with their coverage of the presiden- tial elections.

Standards of Business Conduct and for over- In 2008, the Board amended the Nominating and Board members and candidates stand for elect- The Compensation and Human Development Com- seeing the company’s Ethics and Compliance Governance Committee’s charter to codify its ion each year at the annual stockholders meeting, mittee approves compensation for senior exe- program. The Audit and Finance Committee role in overseeing the company’s corporate social and, as of February 2008, the company’s By-laws cutives and oversees compensation and benefi ts also appoints the company’s Chief Ethics and responsibility programs. require a majority vote of outstanding shares matters for the entire company. The Nominating Compliance Offi cer, who provides the Commit- for a director to be duly elected. In February of and Governance Committee oversees CEO suc- tee with reports on the company’s Ethics Board Composition 2006, the Board also created the position of Lead cession and performance, governance practices, and Compliance programs. As of June 2008, the Board had 12 members, Independent Director who, among other things, Director nominations, and Corporate Social drawn from distinguished careers in business, is responsible for serving as a liaison between Responsibility efforts. The Nominating and Gov- GOVERNANCE fi nance, academia, and public service. The Board the Chief Executive Offi cer and other Directors. ernance Committee also approves “related per- Time Warner is committed to strong corporate has determined that 10 of those 12 Directors son transactions” involving related persons and governance practices that allocate rights and qualify as “independent” under the New York Committee Structure the company. “Related persons” are Directors, responsibilities among the company’s owners, Stock Exchange criteria and the standards est- Having effective Board committees composed Director nominees or executive offi cers of Time directors, and managers in ways that maxi- ablished by company’s Corporate Governance of independent Directors who actively oversee Warner Inc.; signifi cant stockholders; and any mize long-term value for our stockholders. Policy. When considering new candidates, the specifi c areas of responsibility is a key element of their immediate family members or certain We frequently go beyond regulatory require- Board looks for a number of important qualities, of the company’s corporate governance structure. affi liated entities. ments to promote effective oversight and including a demonstrated reputation for inte- The Board has three standing committees: Audit management of our company. grity, independent judgment, and professional and Finance, Compensation and Human Develop- Meeting Schedule accomplishment. The Board also seeks members ment, and Nominating and Governance. The Board of Directors holds regular quarterly Board Relationship to Corporate who are drawn from a range of backgrounds and meetings and at least four special-purpose Social Responsibility an overall composition that refl ects diversity Among other responsibilities, the Audit and Fi- meetings each year to review the company’s The Board’s role in our corporate citizenship in gender, ethnic, and geographic backgrounds. nance Committee oversees the quality and integ- strategy, approve its business plan and budget, is seen most directly in its involvement in cor- rity of our fi nancial statements and accounting act on the company’s annual proxy statement, porate governance, workplace issues, ethics practices; appoints our Chief Ethics and Com- and approve fi nancial fi lings with the Securi- and compliance, as well as through our public pliance Offi cer; appoints the independent auditor ties and Exchange Commission (the “SEC”). policy, philanthropic, and community initiatives. of the company; and reviews and recommends changes to our Standards of Business Conduct.

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Time Warner’s Global Public Policy team not only seeks to provide policymakers with a trusted source of business and strategic input, but also works to uphold our company’s values, including freedom of expression, journalistic integrity, responsible content, and access to information.

The Board of Directors also communicates infor- Responsiveness to Stockholders Communicating with the Board of Directors Freedom of expression goes hand-in-hand with mally with management on a regular basis. Non- In determining the company’s corporate govern- Stockholders wishing to communicate protecting intellectual property. To help ensure employee Directors, all of whom are independent, ance policies, the Board carefully considers with the Board should address letters to: that people continue to create the movies, also meet by themselves, without management the views expressed by stockholders. In recent television shows, magazine articles, and Internet or employee Directors present, at every regularly years, the Board has taken action in a number Offi ce of the Corporate Secretary content that we all enjoy, it’s vital to ensure that scheduled Board meeting. Any Director may re- of areas in part in response to views expressed Time Warner Inc. those creators are compensated for their efforts. quest additional executive sessions. Additionally, either individually or collectively by stockholders, One Time Warner Center Accordingly, the protection of intellectual prop- the Audit and Finance Committee meets at least including: adopting Ethical Sourcing Guidelines; New York, NY 10019 erty is a key public policy priority for us. We work six times a year, and the Compensation and amending the company’s By-laws to enable stock- with both the U.S. government and governments Human Development, and Nominating and Gover- holders with at least 25% of the combined voting More Information around the world to take action against those nance committees meet at least four times power of the company’s outstanding capital For more information about the company’s who illegally copy and sell our fi lms and television a year. stock to request a special meeting of stockhold- corporate governance, including copies shows, whether online or from street-market ers; amending the By-laws to provide for a of its By-laws, Corporate Governance Policy, stands. In the marketplace, we continue to work Board Compensation majority-vote standard for the election of Direct- and committee charters, please visit with the electronics industries to develop new Currently, more than half of the annual compen- ors; eliminating super-majority voting provi- www.timewarner.com/governance. and secure ways to deliver our rich array of sation paid to non-employee Directors is in the sions that apply to stockholder votes; and adopt- content to consumers on a variety of devices. form of equity. ing certain policies in the area of executive PUBLIC POLICY compensation relating to performance-based Time Warner’s Global Public Policy team not only Freedom of expression also requires safeguards Stock Ownership compen-sation, performance-based equity seeks to provide policymakers with a trusted to protect our journalists. Time Warner takes All Directors are encouraged to establish and awards, and equity dilution. source of business and strategic input, but also great pride in the independence and integrity maintain an ownership interest in the company works to uphold our company’s values, including of our print and TV journalists. We are staunch (whether through exercising stock options freedom of expression, journalistic integrity, defenders of journalistic freedom and believe it or purchasing shares). It is expected that with- responsible content, and access to information. in three years of joining the Board, a Director will own at least 5,000 shares of Time Warner common stock.

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TIME magazine covers CNN.com/world covers the world’s most important global issues. infl uential people in the TIME 100 issue.

is an important tool for there to be fair and ment and technological innovation. We believe Membership in Associations are posted on our website at www.timewarner. transparent government. We support protect- that technological advances, new investment, Time Warner is a member of several trade associ- com/citizenship. The PACs are required to ing reporters from prosecution for refusing and rapid innovation are fundamentally changing ations, including the National Cable and Tele- regularly report all activities to the Federal Elec- to identify confi dential sources except in the communications and media marketplaces. communications Association (NCTA), the Motion tion Commission, and records of all PAC contribu- special circumstances. This infusion of new services and unprecedented Picture Association of America (MPAA), and the tions are available at www.fec.gov. competition will continue to benefi t consumers. Magazine Publishers of America (MPA). As part of our agenda to promote responsible Given this thriving and competitive marketplace, content, children’s online safety is a top priority we believe communications and economic reg- Time Warner Political Action Committee for us, and we have led the Internet industry ulation should be used only when needed, and it The Time Warner Political Action Committee (PAC) with our multi-pronged approach. Both AOL and should apply to all service providers on a tech- is a separate legal entity that is administered Time Warner Cable provide protections that nology and competitively neutral basis. by the Time Warner Global Public Policy Offi ce in allow parents to manage their children’s online Washington, D.C. In 2007, Time Warner Cable activities. The company also works appropriat- Similarly, in the areas of tax and trade, we sup- established the Time Warner Cable Federal PAC, ely with law enforcement to combat cyber- port fair and transparent regulation. To this end, which is also administered by the Time Warner crime. Time Warner promotes protecting the we are active proponents of free and fair trade Global Public Policy Offi ce. The Time Warner Cable security and privacy of customer data, and sup- and support the negotiation of market opening PAC is affi liated with the Time Warner PAC and ports efforts to educate consumers about agreements at the bilateral, regional, and glo- therefore both PACs are subject to the same con- those protections. bal level. With respect to taxes, we believe that tribution limits as if they were a single PAC. any taxation of our business should be simple The Time Warner and Time Warner Cable PACs Turning to the workforce and economic issues, and non-discriminatory. support federal candidates on a bipartisan basis. Time Warner supports the creation of a federal standard for workplace fairness for gay, lesbian, Our standards for PAC giving, which apply to both bisexual, and transgender employees. We also the Time Warner and Time Warner Cable PACs, support policies to encourage economic develop-

32 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

06

EMPLOYEES AND WORKPLACE

34 LISTENING TO OUR EMPLOYEES 36 HEALTH AND SAFETY 34 Employee Opinion Survey 36 AOL’s Ergonomics Program

34 EMPLOYEE GROWTH AND 37 Warner Bros.’ Emergency DEVELOPMENT Warden Program 34 Annual Performance Review 37 Feature and Television Productions 34 Leadership and Development Safety Pass Program Programs 37 Safety Website 35 EMPLOYEE BENEFITS 35 Health Benefi ts 37 Safety Bulletins

35 Dependent Care – A Broader Lens 37 Collective Bargaining and Freedom of Association 35 Wellness Programs

36 Childcare Options

36 Flexible Work Arrangements

36 Awards

Kristie Lu Stout anchors CNN International from CNN’s Asian headquarters in Hong Kong. As of December 31, 2007, CNN managed 39 news bureaus and editorial operations, of which 10 are located in the U.S. and 29 are located around the world.

33 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

Time Warner executives at the annual European Leadership Meeting.

EMPLOYEES AND WORKPLACE

Time Warner is committed to helping employees Analysis of the 2006 – 2007 survey data yielded a Our analysis of survey results also yielded guid- development. Across Time Warner we have feel valued and inspired. We aim to attract, number of positive conclusions. In particular, our ance on areas for improvement. In particular, processes in place that foster performance retain, empower, and motivate our employees employees: we found that: employees desire more support discussions between managers and employees. and to create an inclusive environment where • are more satisfi ed and more likely to remain for innovation, including willingness to take all feel welcome. with the company than in the 2004-2005 risks, and employees desire greater collabora- Leadership and Development Programs survey; tion across functions and departments. In 2006 and 2007, our company provided a LISTENING TO OUR EMPLOYEES • identifi ed multiple reasons for their satisfac- number of enterprise-wide leadership and Employee Opinion Survey tion and loyalty, particularly the quality of EMPLOYEE GROWTH AND DEVELOPMENT development programs that included: Chairman’s In 2007, we completed our third company-wide co-workers, confi dence in executive and In a highly competitive environment, it is increas- Leadership to provide the company’s senior set of employee opinion surveys. The purpose divisional leadership, challenging jobs, and ingly important to have a workplace that not only leaders with an opportunity to build leadership of this biannual survey is to understand overall positive work environments; attracts, but also develops and retains talent. skills and discuss business strategy; Break- employee satisfaction and to identify areas for • give senior leadership high ratings on valuing We strive to hire the most talented and diverse through Leadership designed for senior-level improvement in categories such as leadership, diversity, setting high-integrity standards, employees; provide ongoing opportunities for female executives; Time4Tomorrow, which diversity, innovation, and collaboration. Approxi- and communicating company strategy and professional training; and create increasing op- focused on high-potential executives based in mately 60,000 employees worldwide participa- performance; and portunities for internal mobility. Europe and Asia; Nonprofi t Board Leadership ted in the survey. • feel strong support from their immediate programs that provided employees with train- manager for the Standards of Business Annual Performance Review ing to serve on nonprofi t boards of directors; The survey provides us with a roadmap for im- Conduct and other ethics and compliance At the most basic level, employees benefi t from and, at many divisions, Leading for Results, provements, both within the divisions, and for policies. a formal mechanism for receiving feedback about which provided training and development to the company overall, that will help Time Warner their performance so that, together with their Vice President-level managers. remain a great place to work. managers, they can create pathways for career

34 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

An environmental pro- The AOL childcare center duction handbook in Dulles, VA is anticipat- is referenced by ed to be the fi rst LEED-

AN ENVIRONMENTAL PRODUCTION HANDBOOK Warner Bros. employ- Silver certifi ed childcare

How to cut costs and reduce the environmental impact of production ees, as well as tele- center in Virginia. vision and fi lm produ- ction teams.

Brought to you by the Environmental Initiatives Department Warner Bros. Entertainment Inc., Building 137 Telephone (818) 954-3470, Fax (818) 954-2409 http://www.wbenvironmental.com [email protected]

We continue to offer a variety of on going oppor- Health Benefi ts Health Support.” This program provides support of the employee’s immediate family. We provide tunities for thousands of employees to engage Full-time employees select healthcare from the and guidance if an employee or family member support for employees when they need to care for in professional development programs through- same menu of options and quality service that is dealing with a major health issue; managing a any loved one. As part of this inclusive approach, out the year. These include workshops in manage- is given to all employees. We also offer specialized chronic condition; or has been, or is planning we extend our core benefi ts offerings to domestic ment skills, communication and presentation programs to employees. For example, in 2007, to be, admitted to a hospital. partners, allow employees to purchase long term skills, career development, and team-building by we developed an initiative to assist the loved ones care insurance for their parents through our organizations such as the American Management of Time Warner employees who pass-away while Access is provided through a personal nurse who company plan, and provide additional paid time Association, the Center for Creative Leadership, employed by the company. Loved ones are offered is assigned to the employee’s family to confi den- off and a stipend of up to $5,000 to cover child and the Cornell Management Program. third-party assistance to help sort through fi nan- tially answer questions, fi nd available resources, adoption expenses. cial and legal matters that may arise. provide assistance in following a treatment plan, EMPLOYEE BENEFITS and work with the employee’s family to help Wellness Programs We value our employees and provide competitive Since the publication of our last CSR Report, manage symptoms and avoid complications. Time Warner invests in services and education medical employee benefi ts programs to support we introduced a healthcare service for employ- to help keep our employees healthy. Time Warner their well-being. Our Total Rewards program ees and their families who are faced with a Dependent Care – A Broader Lens businesses offer maternity support through includes medical, dental, 401(k) savings, fl exible serious or chronic medical condition. With just We understand that employees have a range access to personal obstetrics nurses (in some spending accounts for healthcare and dependent a phone call, employees gain access to third- of responsibilities outside of the workplace. locations the nurse assigned to an employee care transportation reimbursement accounts, party medical experts that provide current, Our employee assistance programs, therefore, may check in with the new mother at the hospital disability management, pension (in some divi- comprehensive, and objective information on take an inclusive approach in defi ning an to confi rm that she has the information she sions) and life-insurance offerings. We evaluate over 50 different medical conditions to enable employee’s “dependent” as someone who relies needs), employee assistance, and mental health the company’s benefi ts and compensation individuals to be more knowledgeable in making on the employee for fi nancial or emotional programs. Additionally, some of our businesses practices on an ongoing basis to make sure that medical decisions. well-being, even if this person is not a member offer cash reimbursement for wellness activ- we are rewarding our employees fairly for ities, onsite fi tness centers, and onsite health their efforts. In 2007, to further bolster Time Warner’s care services. We also provide information to our management offerings, we began a new program employees about health and wellness through for employees and their families called “Personal seminars, screenings, and awareness campaigns.

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Warner Bros. employees and customers can learn about the division’s environmental efforts at www.wbenvironmental.com.

Childcare Options of our publishing units, Southern Progress, Turner Awards: HEALTH & SAFETY Some divisions of Time Warner provide onsite offered a fl exible work arrangement program • In 2006 and 2007, Turner was listed as one of Time Warner goes beyond compliance with enviro- childcare, and a back-up care center is provided to more than 800 employees. Some participants the 100 Best Companies for Working Mothers nmental, workplace, health and safety laws and, in New York City for employees’ use when their have chosen to adjust their daily schedule, by Working Mother magazine. in many cases, leads our industry in safety prac- regular childcare is unavailable. In addition, beginning and ending the workday earlier. Others • In 2007, Turner ranked in the top fi ve in the tices. A few examples include: all employees can participate in an assistance are electing to telecommute using laptops and Women in Cable Telecommunications (WICT) program that offers referral services for fi nd- Internet-based telephony. At Time Warner’s Foundation PAR Initiative Survey in the follow- AOL’s Ergonomics Program ing day care options and nannies. corporate headquarters, we have found that ing categories: Best Programmers for Women In an industry where most employees are at the during 2006 and 2007, approximately the same in Cable, Best Companies for Women in computer for many hours each day, AOL’s ergo- Divisions also have programs in place to support percentage of men and women participated in Cable – Pay Equity, Advancement Opportunities, nomics program has reduced and prevented new parents. For example, AOL has a Well Baby fl exible work arrangements. and Resources for Work/Life Support. injuries associated with carpal tunnel syndrome. program open to new parents that is available • In 2006 and 2007, Turner ranked among the One-on-one computer workstation evaluations prior to conception through delivery. AOL also Awards Top 50 Companies for Diversity in Diversity are completed, either in person or via telephone, partners with Fatherhood Initiatives, a nonprofi t Time Warner companies received acknowledge- Inc. magazine. by a trained ergonomic specialist who evalu- organization that helps engage fathers in raising ment for their work/life programs from • In 2006 and 2007, Turner was picked as ates work processes, work habits, work station their children. numerous outside organizations in 2006 and one of eight Top Companies for Women by set-up, and ergonomic tool use, specialty key- 2007. Examples include the following: Pink magazine. board, mouse and wrist rest. AOL’s efforts are Flexible Work Arrangements refl ected in its very low injury rate. Although At some of our divisions, employees partner with Turner and Time Inc. Time Warner Cable: AOL is exempt from keeping U.S. Occupational their managers to develop fl exible work arran- In 2007 and 2008, these Time Warner divisions In 2007, Time Warner Cable ranked in the top Safety and Health Administration injury and ill- gement schedules. The purpose of these sched- ranked in the Top 100 List of Adoption four in the Women in Cable Telecommunica- ness data due to the low-hazard class of its ules is to enable employees increased fl exibility Friendly Workplaces, Dave Thomas Foundation tions (WICT) Foundation PAR Initiative Survey industry, for those sites where records are in how, when, and where they get their work for Adoption. in the following categories: Best Operators for kept, AOL has aninjury and illness rate of less done and to increase employee satisfaction and Women in Cable, Best Companies for Women than half the industry average. decrease unwanted turnover. For example, one in Cable – Advancement Opportunities, and Res- ources for Work/Life Support.

36 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

Time Warner is committed to helping employees feel valued and Time Inc. employees bring a diversity of inspired. We aim to attract, retain, empower, and motivate viewpoints to the stories they cover. our employees and to create an inclusive environment where all

feel welcome.

Warner Bros.’ Emergency Warden Program Feature and Television Productions Safety Website Safety Bulletins For 20 years, Warner Bros. has run an Emergency Safety Pass Program Warner Bros. Studio Facilities’ Safety and Environ- As of spring 2008, Turner Broadcasting and Warden Program, and in March 2008, the 212th Warner Bros.’ and Turner Broadcasting’s Safety mental Affairs department has developed elec- Warner Bros. have updated or newly created 40 class graduated from the program. The program Pass program has changed the safety practices tronic methods of providing safety information safety bulletins to guide the movie and television consists of a 16 hour curriculum offered in four of an entire industry. The program was developed to remote feature and television productions industry employees in safe workplace activity. sessions over a month’s time. The curricula in- by Warner Bros. through a collaborative effort through a unique website. The website provides The bulletins have been distributed by fi lm clude an overview of the various natural, techno- with dozens of unions, which represent the mot- safety information to local California produc- production companies in countries all over the logical, and man-made hazards that can affect ion picture and television industry workforce. tions and to remote productions that may not world and frequently, are considered to be the employee at work and at home. American Red In the last two years, the Warner Bros. Safety and have the time to wait for mailing or shipping of the industry standard. Cross CPR/AED/Triage/First Aid Classes, use of Environmental Affairs department and Turner hard copies of materials. The website contains a fi re extinguisher, Psychological/Stress Issues Broadcasting’s Production Safety and Loss division-specifi c information that includes Collective Bargaining and Freedom in emergency/disaster situations, and review Control department, along with other motion information about injury and illness prevention of Association of the Warden’s emergency procedures. picture and television studios, have participated programs, written safety programs, manage- Time Warner respects the rights of all employees in the creation, development, and approval of ment responsibilities, location check lists and under federal labor law, and the rights of all Once the Warden has graduated from the initial additional safety classes that continue to educate accidents reports, and links to other applicable contract professionals who provide services to course, he or she can take additional classes our workforce and provide them with skills to websites. More information is available at Time Warner under collective bargaining rela- in Terrorism, Damage Assessment, Search & safely make our movies and television shows. http://wbsafety.com. tionships. Contract professionals include writers, Rescue, Mortality Management, Radio and Com- Together, the Warner Bros. and Turner teams directors, actors, designers, and others involv- munications, just to name a few. developed new coursework and training pro- ed in the production of motion pictures and tele- grams that include Make-up Artists Using Air- vision programs in our Networks and Filmed brush Techniques (to protect talent and artists Entertainment segments. from equipment and chemicals associated with airbrush makeup), Rigging, Firearms Safety using Blank Ammunition, and Electrical Safety.

37 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

07

SUPPLY CHAIN

39 ETHICAL SOURCING

39 GREEN PROCUREMENT

40 SUPPLIER DIVERSITY 40 Website and Database

40 Awards and Recognition

40 Metrics

Diverse suppliers bring a variety of perspectives to the marketplace and help enhance our overall procurement process. Time Warner’s Supplier Diversity program is broad and robust. In 2007, Time Warner spent over $595.6 million with Minority and Women Owned Businesses (MWBEs).

38 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

The Supplier Diversity website & Database (www.TWSupplierDiver- sity.com) serves as a resource tool for emp- loyees and diverse suppliers.

SUPPLY CHAIN

Time Warner is a global company with a worldwide internal stakeholders comprised of representa- the Business for Social Responsibility’s (BSR) of our supply chain and to work with our business supply chain. We understand that our sphere of tives from divisional legal and marketing depart- Beyond Monitoring group, which brings together partners to monitor and continuously improve infl uence extends beyond our immediate custom- ments, as well as input from key external stake- different industry leaders to study and identify the profi le of our supply chain. ers and employees and that a company of our size holder groups. The Time Warner Board of Direc- the root causes of factory noncompliance. and scale affects the global community through tors approved the guidelines in February 2007. We also joined a newly established supply chain As we move forward, we plan to implement bus- our supply chain. We strive to be a responsible By the end of 2007, we communicated the new initiative within the media industry, so we can iness process adjustments as needed. We are corporate citizen in the communities in which we, guidelines to vendors and licensees in consumer improve ethical sourcing compliance among also scheduling semiannual check-ins with inter- or our suppliers, do business. products working under current contracts with our suppliers in partnership with other ested shareholders, non-governmental organiza- Time Warner. We then developed a risk asses- entertainment companies that have a similar tions, and other strategic stakeholders. ETHICAL SOURCING ment methodology that takes into account factors sourcing base. In 2006, we announced our plan to develop a such as country of manufacture, product type, GREEN PROCUREMENT Time Warner ethical sourcing program, and we current licensee efforts, and contract size. This We have taken these actions because we seek We are expanding efforts to collaborate with have made substantial progress in the last two enabled us to determine our risk-based priorities to benefi t from the success and learning of suppliers with whom we are already doing years. As background, Time Warner purchases for monitoring specifi c factories and licensees. the pioneers in this area. We understand that business, and with new suppliers, to reduce traditional products and services to run our while our program is relatively new, much work the environmental impact and costs associated business, such as offi ce supplies or furniture. After identifying leading candidates to serve as and innovation has occurred in the last decade with the use of their products and services. Our company also licenses its images, brands our third-party compliance monitors, we conduc- within the ethical sourcing arena. Based on For example, HBO has made an effort to purchase and characters to licensees who then use ted a number of pilot audits to further evaluate this learning, our program is being constructed products and establish environmental criteria in the images on toys, electronics, costumes, their capabilities and refi ne our own relevant around strategic monitoring and industry its purchasing processes to reduce the impact and other products that they sell. As we arti- strategies and procedures. Using a risk assess- partnerships. on the environment. In 2007, 46% of the offi ce culated in our 2006 CSR Report, our goal was ment methodology, we chose factories from supplies purchased by HBO contained recycled to develop a set of Ethical Sourcing Guidelines a wide cross-section of our licensee’s suppliers For 2008, we have put a priority on the develop- content, an increase of 5% from 2006. All copy and to begin implementing business process in order to gain a better understanding of our ment and implementation of a multi-platform paper purchased by HBO is 30% post-consumer adjustments as needed. supply chain. To further expand our knowledge data management system which we intend to roll content, and letterhead is printed on 100% post- and resources for ethical sourcing, we joined out to all of our business partners in the third In 2006, we developed a set of Ethical Sourcing quarter. This system will allow us to gain a clear Guidelines based on input from more than 100 understanding of the entire size and breadth

39 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

The Time Warner Supplier Diversity team works with MWBE organizations nation-wide.

consumer recycled, non-chlorine bleach paper • Internal Networking Activities Through this site, employees can access over • Turner Broadcasting has won numerous with the remaining business stationery printed • Goals & Measurements 20,000 diverse suppliers to include in their awards in Supplier Diversity. A few of its 2007 on 35% post-consumer content. In conjunction • Website & Database Management procurement opportunities. We recently com- recognitions include “Corporate Champion of with Canon Business Solutions, a “Think Green” • Awards & Recognition pleted a platform upgrade, making the web- the Year” award presented by the Asian campaign provides employee training on environ- site even more user friendly with expanded American Heritage Foundation, and the “Round mentally responsible and cost effective ways to In January of 2007, Time Warner launched and faster search capabilities, new reporting of Applause” award, presented by the Georgia use multi-functional printers and copiers in a program to encourage large corporations features, supplier testimonials, and simpler Governor’s Mentor Protégé Program. the most environmentally effi cient manner pos- doing business with Time Warner to utilize navigation features. The website averages • AOL was named the “2007 Outstanding Corp- sible. Since 2006, HBO’s NYC-based janitorial diverse suppliers as subcontractors. This “second over one million hits per month. oration of the Year” for the Washington, D.C. service companies have been using Green Seal tier” program – so-called because it is intended region presented by the Women Presidents’ cleaning solutions. to reach subcontractors – underscores the im- Awards and Recognition Education Organization (WPEO). This award portance the company places on the inclusion of Each year, our supplier diversity teams work represents AOL’s second recognition by the SUPPLIER DIVERSITY minority and women-owned businesses (MWBEs) with numerous MWBE organizations locally WPEO for its outstanding efforts with women- Diverse suppliers bring a variety of perspectives at all levels. The program began as a pilot with and nationally, sponsoring and participating owned businesses. to the marketplace and help enhance our over- 40 primary suppliers in 2007. in events, activities, and programs geared • Time Warner and its divisions also provide all procurement process. A diverse supplier base to support MWBE business development. scholarships to MWBE businesses to attend is important for business reasons and we have Website and Database The company has been recognized by many various advanced management and busi- a very broad and robust Supplier Diversity pro- The Supplier Diversity website and database organizations for its support of minority ness courses. gram. The program foundation consists of ten (www.TWSupplierDiversity.com) serves as business development. areas of major focus, which we use to implement the primary resource tool for employees and • Time Warner was named by Diversity- Metrics and manage supplier diversity throughout Time diverse suppliers. The website is used both Business.com as one of America’s Top 50 Through the combined efforts of our business Warner divisions: as an external website for suppliers to visit Corporations for Multicultural Business divisions, our MWBE spend continues to grow • Training & Education and begin the registration process and as Opportunities. This is an award that the year over year. In 2007, Time Warner spent • Business Development an internal tool for employees to receive up- company has received over the past over $595.6 million with MWBEs, representing • Communications dates on the program, new initiatives, and four years. 4.47% of our total discretionary spending. • Tracking & Reporting Second Tier supplier profi les to review when considering • External Outreach Activities bid opportunities.

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08

COMMUNITY

42 EDUCATION AND THE ARTS 42 Providing Opportunity for Diverse Talent to Grow and Succeed

43 Broadening Public Access to Arts

44 Employee Engagement 45 Recognizing Employees for Community Involvement

45 Recent Awards

As part of our effort to broaden public access to the Arts, Time Warner funded the launch of Signature Theatre’s $15 ticket initiative, making every seat for every performance available for the price of a movie and popcorn. Photo by Joseph Moran

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TOTAL TIME WARNER CONTRIBUTIONS TOTAL TIME WARNER IN-KIND CONTRIBUTIONS TOTAL TIME WARNER CASH CONTRIBUTIONS TO NONPROFIT ORGANIZATIONS TO NONPROFIT ORGANIZATIONS TO NONPROFIT ORGANIZATIONS

2007 $ 259 MILLION 2007 $ 214 MILLION 2007 $ 45 MILLION 2006 $ 315 MILLION 2006 $ 265 MILLION 2006 $ 50 MILLION 2005 $ 294 MILLION 2005 $ 235 MILLION 2005 $ 59 MILLION

COMMUNITY

Time Warner’s community investment is a cor- EDUCATION AND THE ARTS: AT THE CORE OF Providing Opportunity for Diverse Talent This program was conceived and developed nerstone of our company’s CSR efforts. Our goal OUR COMMUNITY INVESTMENT to Grow and Succeed with the input of executives from HBO and is to focus our resources smartly and strategi- Time Warner’s corporate philanthropy is focused A diversity of opinions and ideas is critical to the Warner Bros. cally so that our philanthropy connects directly on education and the arts. Thus, we support future of our business, our country, and the to our company and its values, as we support not-for-profi t organizations that are world. Through our grant programs, we nurture To help meet the needs of smaller arts organ- the communities where we live and do business. • Providing opportunity for diverse talent to diverse talent and enable new voices to be heard. izations, we created the Diverse Voices grow and succeed; and Small Theater Fund which provides support As a funder, Time Warner strives to develop • Broadening public access to arts experiences. In the Arts: to com-munity based theater and arts groups thoughtful partnerships with our grantees. Diverse Voices in the Arts Initiative in New York City that present or develop work Our corporate grantmaking process involves Our investments refl ect our commitment to pro- In early 2004, Time Warner launched our Di- by artists from diverse backgrounds. careful evaluation and selection. Our signa- moting diversity in Time Warner’s workplace and verse Voices in the Arts Initiative to help ture initiatives are funded through a request in the communities where we live and do busi- nurture emerging storytellers that represent Youth Media and Creative Arts Initiative for proposal process that involves research ness. As part of this effort, we ask the non-profi t diverse perspectives. Included in this initiative Through the Youth Media and Arts Fund, Time and due diligence; only select organizations organizations that receive Time Warner’s fi nan- are Time Warner supported programs at three Warner’s youth media and creative art initi- are invited to apply. Senior Time Warner exec- cial support to tell us how they address diversity renowned New York City theaters known for ative launched in 2005, the company supports utives from across our company are also as part of their larger mission – including board their work in cultivating emerging playwrights: high-quality New York City-based after-school engaged in the process, providing guidance membership, programs, and organizational pol- Playwrights Horizons, the Public Theater, and programs that engage underserved youth in and recommendations on the proposals. icies and hiring practices. Second Stage Theatre. In 2007, in conjunction a variety of arts disciplines – from visual arts Once awarded, grantee organizations are with the Sundance Institute, we launched the to performing arts to fi lmmaking. These pro- asked to provide progress reports detailing Time Warner Storytelling Advancement Fund, grams work with teens to give them the oppor- fund usage. a new program which seeks to cultivate the tunity to develop and express their voices works of diverse writers so their stories may be brought to the stage or fi lm.

42 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

Students participate in A scene from Macbeth Prep for Prep, one of performed by Classical the college-readiness Theater of Harlem at nonprofi t organizations Marcus Garvey Park in supported by Time Harlem as part of Warner. City Parks Theaters.

photo by Gary St. Fleur josephmoran.com

while using the arts to help them acquire learn- Time Warner College Prep Initiative Time Warner National Scholarship Initiative Signature Theatre Ticket Initiative ing skills that prepare them for success in school, Since 2005, Time Warner has supported a select The Time Warner National Scholarship Initiative In 2005, Time Warner launched a ground-break- life and work. An independent survey conducted number of college preparatory programs in New supports the work of several nationally recog- ing ticket program in partnership with one of by Policy Studies Associates in 2006 on Time York City that work to increase the academic nized scholarship organizations, including the New York City’s most respected not-for-profi t Warner’s youth-focused grantees indicated that, performance of under-served middle and high Hispanic Scholarship Fund (HSF); the Point Foun- theatres. Between the end of 2005 and the as a result of Time Warner funding, 71% of youth school students and help them make a successful dation, which focuses on Lesbian Gay Bisexual spring of 2007, the Signature Theatre Ticket arts grantees reported increased self-confi - transition to college. These programs include and Transgender (LGBT) youth; UNCF; and the Initiative gave more than 50,000 people the dence and self-esteem in their students and 64% rigorous academic components and communi- American Indian College Fund. chance to see quality theater at an affordable of grantees reported improved learning skills cate high expectations to students. In addition, $15 ticket price, including a trilogy of plays of participants. In 2007, annual reports from two we strengthened ties between the company’s Broadening Public Access to Arts by the late August Wilson. This opportunity was Time Warner grantees, Reel Works and Urban STARS (Students Taking a Right Step) internship Time Warner has a long tradition of supporting marketed through community groups across Word NYC, stated that 86% of Reel Works alums program and highly successful college prepar- the public arts. Our funding is directed toward New York which helped attract new audiences, are still in high school or higher education and atory nonprofi t groups with the long-term goal opportunities that support our company’s many experiencing live theater for the fi rst time. 90% of Urban Word’s core students fi nished high of creating a pipeline of talent into the company. efforts to reach new and diverse audiences. The program received a great deal of press school and went on to college. Two examples: attention and its success is being modeled in other cities as an innovative example of corpo- In Education: CityParks Theater rate involvement in the arts. In 2007, Time We believe that the long-term success of our In 2006, Time Warner and the CityParks Foun- Warner re-committed to another four years communities and company depends on growing dation developed and launched a pilot program of funding for the Signature Theatre Ticket a college-educated workforce that refl ects that brought free theater performances to Initiative which will keep tickets for all seats the diversity of the global marketplace. parks in New York City’s Harlem and Bedford- at all performances at $20 through 2011. Stuyvesant neighborhoods. New locations and With this in mind, we continue to support two additional park performances were added in thriving initiatives dedicated to increasing 2007, and plans are underway to continue grow- college access among underserved youth. ing the program’s community appeal in 2008.

43 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

In 2008, Turner U.K. Our West Coast employees visited employees are active KwaZulu Natal in South in Hollywood Habitat Africa and built two for Humanity. houses for villagers and AIDS orphans.

EMPLOYEE ENGAGEMENT IPC Media (U.K.-based division of Time Inc.) HBO Turner Our company-wide employee volunteer programs The Schools’ Design Programme is IPC’s fl agship HBO has a volunteer leave policy, which allows Thousands of Turner employees, family members are refl ective of the extraordinary talents that community project and complements Time eligible employees up to fi ve days’ paid leave and friends participate in the division’s annual comprise the Time Warner workforce. For example, Warner’s broader community focus on youth and to perform community service. Employees have Turner Volunteer Day, which takes place in Turner Time Warner’s Nonprofi t Board Leadership Train- arts education. The program targets art and used this time to for multiple volunteer efforts, communities across the world. Now in its 10th ing and Matching Program prepares executives design students at three schools in Southwark, including helping rebuild in the Gulf Coast follow- year, the day of local service brings together Tur- to serve on the boards of nonprofi t organizations. the London borough where IPC’s headquarters ing Hurricane Katrina and preparing the campsite ner volunteers for a variety of community acti- The program’s goal is to further develop leaders is located, who undertake a 10-week afterschool for Camp Homeward Bound, run by the Coalition vities including cleaning parks, painting daycare in the company and enhance the company’s repu- course in graphic design. Each student then for the Homeless through its Youth Services centers, delivering food and visiting the elderly. tation in the community. Since the program’s completes a week’s work experience at IPC, Program. HBO’s employee network and affi nity The division’s intranet offers information on creation in 2005, 161 executives have participa- where he or she is hosted by one of IPC’s art groups are key champions of the division’s vol- wide-ranging individual and group volunteer op- ted and 70% are being or have been matched to editors who helps the student put his or her unteer initiatives. HBO also organizes an annual portunities. In 2008, 20 Turner U.K. staff visited serve on nonprofi t boards. The program has been learning into practice and gain experience and charity drive, in which employee contributions the KwaZulu Natal in South Africa and built two offered in New York, Atlanta, and Los Angeles. understanding of designing magazine spreads. to nonprofi t organizations can be made through houses for villagers and AIDS orphans. In addi- payroll deductions, and all employees who donate tion to volunteering, the group raised £30,000 Our divisions also support the volunteer efforts IPC allows its employees two days’ paid leave a day’s pay receive a day off of work. In 2008, to support the South African community. Turner of their employees through other ongoing each calendar year to take part in volunteer employee participation in the drive increased U.S. employees are eligible for up to 40 hours programs. The following are a few examples: activities in the community. Employees can take by nearly 10%. Contributions from the campaign of volunteer release time each year to volunteer part in a wide range of charitable activities, went to Earth Share, Echoing Green, the Chil- during work hours. Participation in the program with many choosing to use one of their volun- dren’s Health Fund’s Operation Assist, and the has increased every year since it launched, teer release days to join with their colleagues Wounded Warrior Project. with use of Volunteer Release Time increasing and take part in the annual Time Warner Volun- 20% in 2007. teer’s Day. IPC hasset up a database, on their intranet, of possible volunteering options for people to consider.

44 01 02 03 04 05 06 07 08 COMPANY AND CUSTOMERS DIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

Time Warner’s community investment is a cornerstone of our company’s Lynn Nottage, Rajiv Joseph and CSR efforts. Our goal is to focus our resources smartly and strategically Tracey Scott Wilson, three playwrights to ensure that our philanthropy connects directly to our company and participating in the Time Warner its values. Community Program at Second Stage Theater in NYC. Photo by Joseph Moran

Warner Bros. Thanks and Giving campaign through program- nization. In addition, Time Warner recognizes Recent Awards The Warner Bros. Studios Volunteer Corps was ming initiatives and promotional advertising employees who have made exceptional contribu- November 2007, Mayor Bloomberg presented launched in 1996 as an initiative aimed at pro- in various parts of the AOL network with the goal tions to community service with the Andrew Time Warner with the Mayor’s Award for Arts moting and supporting employee volunteerism. of soliciting direct donations for the organization. Heiskell Community Service Awards, which are and Culture for its leadership in support of Volunteer Corps members receive a monthly AOL also supports other nonprofit organizations presented each June at a special luncheon in the Arts in New York City. newsletter via email, listing various volunteer that promote the health and well-being of chil- New York City. The awards are named in memory opportunities with nonprofit organizations dren. AOL is also a founding partner of Network of Andrew Heiskell, former Chairman and CEO of January 2008, Preservation Resource Center of throughout the Los Angeles area. Each month, for Good, one of the internet’s leading charita- Time Inc., and himself a noted philanthropist. New Orleans presented Time Warner with the PRC one volunteer opportunity is chosen as the ble resources, which brings together donors, Each year, senior management gathers to honor Citizenship Award for “keeping the nation focused “Pick of the Month” event. Employees partici- volunteers and charities online. Launched in May approximately ten winners who have been selec- through responsible journalism on the needs of pate in these volunteer activities as one unified 2008, AOL’s Employee Directed Giving Campaign ted from among hundreds of nominations sub- New Orleans as it works to recover and rebuild.” group representing Warner Bros. Studios. put philanthropic dollars on the local level and in mitted from across the company. the hands of employees to support their favorite April 2008, Point Foundation presented Time AOL local cause through funding and volunteerism. The awards include an honorarium for the emplo- Warner with the Point Inspiration Award for the AOL has a long history of leveraging the power yee and a company donation to the not-for-profit company’s championing of respect and inclu- of the Internet to benefit those in need and Recognizing Employees for Community organization of the winner’s choosing. In 2008, sion of the lesbian, gay, bisexual and transgender improve communities. AOL is focused on helping Involvement Time Warner will mark the 28th anniversary of (LGBT) community, and its support of the Foun- children, while giving its employees a greater Several Time Warner divisions match employee the Andrew Heiskell Community Service Awards. dation’s Scholarship program for LGBT youth. voice in directing philanthropic efforts. Through- contributions to nonprofits that focus on out the 2007 holiday season, AOL promoted arts or education. Some divisions also support the St. Jude Children’s Research Hospital’s the nonprofit organizations where employees volunteer for at least 30 hours per year by pro- viding a cash grant of up to $500 to the orga-

45 200801 02 03 04 05 06 07 08 TIMECOMPANY WARNER AND CORPORATE SOCIALCUSTOMERS RESPONSIBILITY REPORTDIVERSITY ENVIRONMENT ETHICS, GOVERNANCE, EMPLOYEES SUPPLY CHAIN COMMUNITY REPORT OVERVIEW AND CONTENT AND PUBLIC POLICY AND WORKPLACE

www.timewarner.com

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