8-K

                  SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, D.C. 20549


                               FORM 8-K


                            CURRENT REPORT


                Pursuant to Section 13 or 15(d) of the
                    Securities Exchange Act of 1934


           Date of Report (Date of earliest event reported):
                          September 12, 1996


                           TIME WARNER INC.
        (Exact name of registrant as specified in its charter)

          Delaware                 1-8637             13-1388520
(State or other jurisdiction     (Commission       (I.R.S. Employer
       of incorporation)         File Number)     Identification No.)


               75 Rockefeller Plaza, New York, NY 10019
          (Address of principal executive offices) (zip code)

                            (212) 484-8000
         (Registrant's telephone number, including area code)

                            Not Applicable
     (Former name or former address, if changed since last report)





Item 5. Other Events.

          Time Warner Inc. ("Time Warner") issued a press
release on September 12, 1996, announcing that the Federal
Trade Commission (the"FTC") had given its initial approval to
the Agreement Containing Consent Order (the "FTC Consent
Decree"), dated August 14, 1996 among Time Warner, Turner
Broadcasting System, Inc. ("TBS"), Tele-Communications, Inc. 
("TCI"), Liberty Media Corporation and the FTC. Initial 
approval of the FTC Consent Decree satisfies a condition to 
the obligations of Time Warner, TBS and TCI to consummate the 
combination of Time Warner and TBS.

Item 7.  Financial Statements and Exhibits.

         (c) Exhibits:

         (i) Exhibit 99: Press release dated September 12, 1996.





                           SIGNATURE

          Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of New York, State of
New York, on September 12, 1996.


                              TIME WARNER INC.,

                              By: /s/ Peter R. Haje
                                  -------------------------------
                                  Name:  Peter R. Haje
                                  Title: Executive Vice President
                                         and General Counsel





                         EXHIBIT INDEX

                                                  Sequential
Exhibit No.    Description of Exhibit            Page Number

   99          Press release dated 
                 September 12, 1996.

EX-99

                                                    Exhibit 99



                          TIME WARNER

News Release


For Immediate Release

TIME WARNER WINS F.T.C. INITIAL APPROVAL
FOR MERGER WITH TURNER

NEW YORK, Sept. 12, 1996--Time Warner Inc. announced today that the
Federal Trade Commission had given its initial approval to the Consent
Order, enabling the Time Warner acquisition of Turner Broadcasting
System, Inc. (TBS) to go forward. The Consent Order was entered into
by the FTC staff with Time Warner, Turner Broadcasting System, Inc.
and Tele-Communications, Inc. (TCI). The Consent Order is subject to a
60-day public comment period and final acceptance by the FTC. Time
Warner also said that both it and TBS will hold shareholder meetings
on October 10, 1996, in New York to approve the merger.

Time Warner Inc., the world's leading media company, consists of three
fundamental businesses: entertainment, news and information and
telecommunications, with interests in filmed entertainment, television
production, broadcasting, recorded music, music publishing,
cable-television programming, theme parks, magazines, book publishing
and cable-television systems.


From:
Edward Adler
(212) 484-6630

To receive a copy of this press release through the Internet, access
Time Warner's Factfinder located at http://pathfinder.com/Corp/