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Time Warner Corporate Actions

Time Warner Inc. has engaged in a number of mergers, acquisitions and other corporate actions over the years, which have resulted in payments in cash, stock and/or other forms of consideration. The following tabs include information on significant corporate actions completed since 2009.

FAQs

Time Warner Stock History

When was the company's IPO?
AOL Time Warner (now named Time Warner Inc.) was created through a merger of America Online, Inc. and Time Warner Inc. (now named Historic TW Inc.), which closed on January 11, 2001.

America Online became a publicly traded company on the NASDAQ on March 19, 1992, at an original price of $11.50. Adjusting for stock splits, this is an IPO price of $0.09.

Time Inc. merged with Warner Communications Inc., on January 10, 1990, to form Time Warner Inc. (a predecessor to the company now named Historic TW Inc.). The initial corporation named Time Inc. was incorporated on November 28, 1922 in the state of New York. Trading of its common stock on the New York Stock Exchange began on April 29, 1964, under the symbol TL. Prior to that date, the common stock was traded over the counter.

Has Time Warner announced a stock split?
Time Warner effected a 1-for-3 reverse stock split on March 27, 2009 at 7pm EST. 

America Online - Historic TW Merger

When did America Online and Historic TW Inc. (formerly named Time Warner Inc.) merge and what was the exchange ratio?
America Online and Historic TW Inc. (formerly named Time Warner Inc.) completed their merger on January 11, 2001.

Prior to Time Warner's 1-for-3 reverse stock split at 7:00 pm on March 27, 2009, former shareholders of America Online, Inc. were entitled to one share of common stock of Time Warner Inc. (formerly named AOL Time Warner) in exchange for each common share of America Online, Inc. Prior to the 1-for-3 reverse stock split, former shareholders of Historic TW Inc. were entitled to 1.5 shares of Time Warner Inc. common stock in exchange for each common share of Historic TW Inc. After March 27, 2009, the number of shares of Time Warner Inc. that former shareholders of America Online, Inc. and Historic TW Inc. received after exchanging their shares was 0.333 and 0.5 shares, respectively, reflecting the 1-for-3 reverse stock split.

Because of the spin-offs of Time Warner Cable Inc., AOL Inc. and Time Inc., you may also receive shares of those companies in connection with the exchange of your shares of America Online, Inc. and Historic TW Inc.

How do I determine the tax basis of the Time Warner common stock I received for my stock of Historic TW Inc. in the merger of America Online, Inc. and Historic TW Inc. (formerly named Time Warner Inc.)?
You should discuss this matter with your own tax advisor. In general, a holder of common stock who received Time Warner Inc. (formerly known as AOL Time Warner) common stock as a result of the merger between America Online, Inc. and Historic TW Inc. did not recognize a gain or loss as a result, except to the extent cash was received instead of a fraction of a share. Generally, the aggregate tax basis of the Time Warner Inc. common stock equals the aggregate tax basis of the common stock held (excluding the portion of such basis allocated to the fractional share), and the holding period includes the holding period of the Historic TW Inc. common stock. If cash was received instead of a fraction of a share of Time Warner Inc. common stock, the holder would realize a capital gain or loss equal to the difference between the ratable portion of the tax basis of the Historic TW Inc. common stock that is allocated to such fractional share and the cash received.

Other Mergers

Warner Communications Inc. (“WCI”)

Time Inc. merged with WCI on January 10, 1990, to form a company then named Time Warner Inc., which was subsequently renamed Time Warner Companies, Inc. (a predecessor of the company now known as Historic TW Inc.). A holder of WCI common stock at the time of the merger was entitled to receive the following for each such share:

  • 0.7188774 of a share of Time Warner Inc. Series C 8 3/4% Convertible Exchangeable Preferred Stock ("Series C"), and
  • 0.5421044 of a share of Time Warner Inc. Series D 11% Convertible Exchangeable Preferred Stock ("Series D"), and
  • 0.15166 of a share of Class A common stock of BHC Communications, Inc. ("BHC").

Turner Broadcasting System, Inc. (“TBS”)

Historic TW Inc. (formerly named Time Warner Inc.) acquired the remaining 80% interest in TBS that it did not already own on October 10, 1996. Each outstanding share of TBS Class A common stock and Class B common stock was converted into the right to receive 0.75 shares of Historic TW Inc. common stock. As a result of a 1998 stock split, the exchange ratio in the merger of America Online, Inc. and Historic TW Inc. (formerly named Time Warner Inc.) in 2001 and the 1-for-3 reverse stock split in 2009, each such TBS share is now exchangeable for 0.75 shares of Time Warner common stock.

Separations of Time Warner Cable Inc., AOL Inc. and Time Inc.

Where can I find more information regarding the separation of Time Warner Cable Inc., AOL Inc. and Time Inc. from Time Warner Inc.? 

  • The separation of Time Warner Cable Inc. from Time Warner Inc. became effective on March 12, 2009. For more information regarding the separation of Time Warner Cable Inc., click here.
  • Time Warner Inc. completed the spin-off of AOL Inc. on December 9, 2009. For more information regarding the separation of AOL Inc., click here.
  • Time Warner Inc. completed the spin-off of Time Inc. on June 6, 2014. For more information regarding the separation of Time Inc., click here.

Who can I contact about the distribution of shares resulting from these transactions?

If you are a registered Time Warner shareholder: If you would like additional information regarding the distribution of shares resulting from these transactions, the cash payment in lieu of fractional shares, or how to exchange Time Warner stock certificates issued prior to March 27, 2009, please contact our transfer agent, Computershare, for instructions on how to exchange your stock certificate(s) for new Time Warner shares. Contact information for Computershare can be found in the Contacts section under the Resources tab.