EXHIBIT 99.1


Time Warner

                                                        NEWS
                                                        ------------------------


For Immediate Release


                       MILES R. GILBURNE TO STEP DOWN FROM
                        TIME WARNER'S BOARD OF DIRECTORS

NEW YORK,  January 17, 2006 - Time Warner Inc. (NYSE:  TWX) announced today that
Miles R.  Gilburne  has  decided  not to stand for  re-election  to its Board of
Directors in 2006.  Mr.  Gilburne  will  continue to serve as a Director of Time
Warner until the company's 2006 annual meeting of stockholders.

Time Warner's Chairman and Chief Executive Officer Dick Parsons said: "On behalf
of Time Warner's  Board of Directors and senior  management  team, I thank Miles
Gilburne  for his years of  dedicated  service to the  company,  both as a Board
member and as a senior executive at America Online, where he was instrumental in
building AOL into an industry leader. Our company has greatly benefited from his
pioneering  energy  and  forward-thinking   insights.  We  will  also  miss  his
intelligence and creativity. We wish him well."

Mr.  Gilburne said:  "Although Time Warner is a great company and serving on its
Board of Directors has been a great honor,  I have  concluded  that my expertise
and  skills  can best be  leveraged  at this time as a  participant  in  younger
companies  with a more exclusive  focus on digital  products and services for an
increasingly networked world. Although I will not stand for re-election,  I will
serve as a Director for the  remainder of my term and will continue to work with
Dick Parsons and my fellow Board members in our ongoing efforts to deliver value
for Time Warner shareholders."

Mr.  Gilburne,  54,  served as a Director of America  Online from 1999 until the
AOL/Time  Warner merger in January 2001,  and has been a Director of the company
since that date.  From 1995 to 1999,  he was Senior  Vice  President,  Corporate
Development at America Online,  where he was responsible for strategic  planning
and for major corporate acquisitions, joint ventures and alliances.

Since 2000,  Mr.  Gilburne  has been a managing  member of ZG  Ventures,  LLC, a
venture capital and investment company.

About Time Warner Inc.

Time Warner Inc. is a leading media and entertainment  company, whose businesses
include interactive services,  cable systems,  filmed entertainment,  television
networks and publishing.

Contact:
Susan Duffy               (212) 484-6686

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