PROFILE EUROPE 2004—05

PROFILE EUROPE 2004—05
Time Warner Inc.
NYSE: TWX
www.timewarner.com
Corporate Headquarters
One Time Warner Center
New York, NY 10019-8016
Investor Relations
Tel: +1-212-484-8870
AOL Keyword: IR
www.timewarner.com/investors
[email protected]
Media Relations
Tel: +1-212-484-7450
Time Warner Public Policy Europe
Lacon House
84 Theobald’s Road
London WC1X 8WA
Tel: +44-(0)-20-7693-1850
Front Cover (from left):
(Top Row)
The No.1 Ladies’ Detective Agency by Alexander McCall Smith/Time Warner Book Group; Daniel Radcliffe and Emma Watson in Harry Potter and the Prisoner of
Azkaban/Warner Bros. Pictures/Warner Bros. Entertainment; Orlando Bloom, Ian McKellen and Viggo Mortensen in The Lord of the Rings: The Return of the King/
Photo: Pierre Vinet/New Line Productions 2003/New Line Cinema; The Powerpuff Girls/Cartoon Network.
(Bottom Row)
Lauren Ambrose, Michael C. Hall and Mathew St. Patrick in Six Feet Under/Photo: John P. Johnson/HBO; Country Life/IPC Media; AOL Germany Welcome Screen/AOL Europe;
Christiane Amanpour/CNN.
Design by Bandujo Donker & Brothers, www.bandujo.com
Executive photography by Brad Trent
Printed by Wyndeham Hubbard, UK
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4
A MESSAGE FROM
RICHARD D. PARSONS,
CHAIRMAN AND CEO
PUBLISHING
Time & Fortune Group
IPC Media
Time Warner Book Group
12
10
FILMED ENTERTAINMENT
Warner Bros. Entertainment
New Line Cinema
contents
16
NETWORKS
Turner Entertainment Networks
CNN
Home Box Office
22
AOL
AOL Europe
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TIME WARNER
People
Corporate Responsibility
European Businesses at a Glance
Who’s Who
A Message from the Chairman and CEO
Time Warner’s European presence is long-standing, extensive and growing. It is driven by the same strategic focus that
defines our operations around the world: to ensure our businesses are best in class and work together in ways that create
even more value. In Europe, our success reflects the universal reach of hugely popular and critically acclaimed productions
such as Warner Bros.’ Harry Potter franchise and New Line’s Lord of the Rings trilogy, as well as the local appeal of such
publications as IPC Media’s highly popular magazines.
Time Warner’s European divisions and brands contribute significantly to the region’s economy, helping develop its
immense resources of creativity, artistry and technical know-how. In 2004, for example, Warner Bros. will release 16
European films that it acquired or produced — twice as many as in 2003 — including movies from France, Spain, Italy and
the UK. Along with providing quality entertainment and information, we are also playing an important role in spreading the
interactive technologies so critical to Europe’s future.
Ultimately, our ability to enhance the best-in-class status of our operations and find new ways for them to work together
depends on the people who staff and manage them. Along with Jeff Bewkes and Don Logan, chairmen respectively of our
Entertainment & Networks and Media & Communications groups, and the rest of our senior management team, we are
fortunate to have a vibrant European workforce, drawn from a wide range of cultures and countries and committed to Time
Warner’s creative and competitive leadership. These talented men and women are constantly adding to the overall
strength of our company.
As proud as we are of our participation in the evolution of the European marketplace, we are confident that the period of
our greatest growth is still ahead. Thanks to our solid financial footing, the robust health of our businesses, the positive
trends in the media and entertainment industries and, above all, the imagination and energy of our people, Time Warner
looks forward to bringing new momentum to the local and global dynamism of the European community.
Richard D. Parsons,
Chairman of the Board and CEO
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TIME WARNER PROFILE EUROPE 2004–05
(from left)
Jeffrey L. Bewkes Chairman, Entertainment & Networks Group
Richard D. Parsons Chairman of the Board and CEO
Don Logan Chairman, Media & Communications Group
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TIME WARNER PROFILE EUROPE 2004–05
Ann S. Moore
Chairman and CEO
With 134 titles and a global
readership of nearly 300 million,
Time Inc. leads the magazine
publishing world. Time Inc.’s
commitment
to
journalistic
integrity and excellence extends to
all of its publications, offering its
European readers the best in
serious journalism and popular
magazines — from Time and
Fortune to the IPC Media family
of magazines.
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PUBLISHING
TIME INC.
Ann S. Moore
Chairman and CEO
Richard Atkinson
Executive Vice President and CFO
Tom Angelillo
President and CEO,
Southern Progress Corporation
Kerry Bessey
Senior Vice President
Jack Haire
Executive Vice President
Mike Klingensmith
Executive Vice President
Nora McAniff
Executive Vice President
John Redpath
Senior Vice President
and General Counsel
John Squires
Executive Vice President
EDITORIAL EXECUTIVES
Norman Pearlstine
Editor-in-Chief
John Huey
Editorial Director
Isolde Motley
Corporate Editor
Time & Fortune Group
TIME and FORTUNE INTERNATIONAL
Time Magazine
Time was first introduced to London in the 1930s. Its popularity grew quickly throughout Europe after World War II, when
it became the region’s most widely read English-language weekly. Today, with a European circulation of more than half a
million, Time continues to deliver the best in international news as well as relevant coverage for its European readers.
Time’s European editor, based in London, manages a network of bureaus around the region. While the European edition
employs its own photographers, designers and production staff, the magazine is printed at regional plants and customised
for markets across Europe, the Middle East and Africa.
In addition to covering current domestic and international news, Time also produces extensive editorial features, including
special issues, country reports and other reports of special interest to European readers. The magazine is regularly recognised
as a leader in international news through its award-winning journalism.
Fortune Magazine
As the leading biweekly global business magazine, with a circulation of 100,000
in Europe, Fortune is renowned for its unrivalled access to industry leaders and
decision-makers throughout the world.
Fortune profiles the people behind Europe’s biggest corporations and seeks out the
latest trends in industry and finance — from the impact of the euro to Italian fashion.
Offering in-depth reporting on the key issues affecting businesses today, Fortune’s
editorial mix makes it an invaluable resource for Europe’s business leaders.
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PUBLISHING
TIME & FORTUNE GROUP
Eileen Naughton
President, TIME
Edward McCarrick
Worldwide Publisher, TIME
Taylor Gray
Associate Publisher and
Global Marketing Director, TIME
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PUBLISHING
Richard Evans
Executive Vice President
and CFO,
TIME & FORTUNE International
Eric Pooley
Editor, TIME Europe
Christopher Poleway
President, The Fortune Group
Michael Federle
Worldwide Group Publisher,
The Fortune Group
Rik Kirkland
Managing Editor, FORTUNE
Robert Friedman
International Editor, FORTUNE
Nelson Schwartz
Europe Editor, FORTUNE
IPC MEDIA
Sylvia Auton
Chief Executive Officer
Bill Aley
Finance Director
Georgina Crace
Managing Director, IPC Advertising
and The Wallpaper* Group
Philippa Brown
Managing Director, IPC tx
Sandy Whetton
Managing Director, IPC SouthBank
Evelyn Webster
Managing Director, IPC Connect
Paul Williams
Managing Director,
IPC Country & Leisure Media
Tim Brooks
Managing Director, IPC ignite!
Mike Soutar
Editorial Director
David Stam
Managing Director, Marketforce
Dee Mair
Human Resources Director
IPC MEDIA
In 2001, Time Inc. acquired IPC Media, the UK’s largest consumer magazine publisher and a leader in many of the
publishing sectors in which it operates. The company’s portfolio of nearly 100 titles includes 11 magazines that have
been published continuously for more than a century, including The Field, Country Life, Amateur Gardening, Horse &
Hound and Motor Boat & Yachting.
IPC Media is comprised of six publishing divisions — IPC Connect, IPC SouthBank, IPC tx, IPC ignite!, IPC Country
& Leisure Media and The Wallpaper* Group. It also owns Marketforce, the UK leader in magazine marketing, distribution
and sales.
IPC Media sells 330 million magazines each year, reaching 28 million adults in the UK. In a highly competitive market, its
titles are read by more than two-thirds of the women and half of the men in the UK. In addition, IPC Media publishes magazines in more than 15 countries around the world through joint ventures, strategic alliances and licensed editions.
IPC Media focuses on five core areas — Women, Home Interest, Leisure, Men’s Lifestyle & Music, and Television. It is
responsible for publishing many of the best-known magazines in the UK, including What’s on TV, Britain’s biggest-selling
magazine, Marie Claire, In Style, Country Life, Wallpaper*, Now, Chat, Ideal Home and Loaded. Building on its success in
the consumer magazine arena, in 2004 IPC Media launched Nuts, the world’s first weekly lifestyle magazine for men.
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PUBLISHING
Laurence J. Kirshbaum
Chairman and CEO
Time Warner Book Group, which
includes Warner Books; Little, Brown
and Company; Time Warner AudioBooks; and Time Warner Book Group
UK, is a leader in the publishing
industry. With a remarkable roster
of award-winning authors, Time Warner Book
Group continues to strike the right balance
among entertainment, quality literature and
informative nonfiction.
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PUBLISHING
TIME WARNER BOOK GROUP INC.
Laurence J. Kirshbaum
Chairman and CEO
Maureen Mahon Egen
President and COO
Rick Hall
President, Distribution
Thomas Maciag
Executive Vice President and CFO
Carol Ross
Executive Vice President,
Business Affairs, and General Counsel
David Young
Chief Executive,
Time Warner Book Group UK
Ursula Mackenzie
Publisher, Time Warner Book Group UK
TIME WARNER BOOK GROUP UK
In 2003, Time Warner Book Group UK placed 25 titles on the London Sunday Times bestseller list, including five ranked
number 1. Among its bestsellers were The Road to Nab End and Beyond Nab End by William Woodruff, The No. 1 Ladies’
Detective Agency by Alexander McCall Smith and Serious by John McEnroe.
Time Warner Book Group UK was named Publisher of the Year at the 2004 British Book Awards, and one of its most
popular writers, Alexander McCall Smith, captured the award for Author of the Year. The prestigious Miles Franklin Literary
Award in Australia was presented in 2004 to Shirley Hazzard for The Great Fire. In addition, Time Warner Book Group UK had
three of the six short-listed titles for the 2004 Orange Prize for Fiction: The Great Fire by Shirley Hazzard, Oryx and Crake by
Margaret Atwood and Ice Road by Gillian Slovo.
In 2005, the Time Warner Book Group’s release schedule includes: The Mind Gym by Mind Gym
A Brother’s Journey by Richard Pelzer
Lifeless by Mark Billingham
Two Lives by Vikram Seth
Blink by Malcolm Gladwell
Honeymoon by James Patterson
Fleshmarket by Ian Rankin.
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PUBLISHING
Barry M. Meyer
Chairman and CEO
>>
WARNER BROS. ENTERTAINMENT has
dedicated itself for more than 75 years
to providing the European community
with the finest entertainment — through
the creation, production, distribution,
licensing and marketing of feature
films, television, home video and DVD,
animation, comic books, interactive
entertainment and games; product and
brand
licensing,
and
international
cinemas. Committed to working with local
people and resources, the company
directly employs some 1,400 people in
more than 20 European countries.
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FILMED ENTERTAINMENT
Troy, starring Brad Pitt as Achilles, made more than
$217 million in Europe during its summer 2004 release.
WARNER BROS. ENTERTAINMENT
Barry M. Meyer
Chairman and CEO
Alan Horn
President and COO
Steven Mertz
Senior Vice President
and General Counsel, Europe
Jodi A. Nesis-Benaim
Senior Vice President,
Worldwide Anti-Piracy Operations
Steve Southgate
Senior Vice President,
European Technical Operations
WARNER BROS. ENTERTAINMENT UK
Josh Berger
Managing Director
and Executive Vice President
WARNER BROS. PICTURES
Sue Kroll
President, International Marketing
Veronika Kwan-Rubinek
President,
International Distribution
David Brander
Senior Vice President,
International Operations
Monique Esclavissat
Senior Vice President,
European Theatrical Distribution
Con Gornell
Senior Vice President,
European Marketing
Paolo Ferrari
Managing Director, Italy
Willi Geike
Vice President and Managing Director,
Germany (Theatrical and Home Video)
>>
The Last Samurai, starring Tom Cruise (below right), was one of
Warner Bros. Pictures International’s biggest releases in Europe in
2004, with more than $158 million in European box office receipts.
WARNER BROS. PICTURES
Film Production and Distribution
In 2003, European audiences contributed over $1 billion of the
$1.63 billion in box office receipts garnered by Warner Bros.
Pictures International.
In the first half of 2004, Warner Bros. Pictures released in
Europe such hit films as The Last Samurai, Troy and Harry
Potter and the Prisoner of Azkaban. The most recent installment
of the Potter series broke a number of box office records in the UK and has made more than $300 million in European box
office receipts through the first week of September 2004. Upcoming 2004 European releases include The Polar Express
and Ocean’s Twelve, scenes of which were filmed in Amsterdam, Paris, Rome and Sicily. Currently being filmed in the UK
are Batman Begins, Charlie and the Chocolate Factory, Harry Potter and the Goblet of Fire and Tim Burton’s Corpse Bride.
In addition to producing and distributing international blockbuster films, Warner Bros. Pictures is committed to acquiring,
producing and distributing local films across Europe. The Studio’s local involvement is reflected in the 16 films — double
its 2003 total — that it will acquire or produce and release in 2004. The titles include Jean-Pierre Jeunet’s A Very Long
Engagement (France), Trauma (UK) and Pedro Almodóvar’s Bad Education (Spain, Italy).
Further demonstrating its commitment to partnering with European businesses, Warner
Bros. Pictures International recently agreed to collaborate with the Italian filmmakers the
Vanzina brothers on three movies.
Television
With European offices in London, Madrid, Paris and Rome, Warner Bros. International
Television is one of the world’s largest distributors of feature films, television
programmes and animation to all television media, including broadcast, pay cable, basic
cable, satellite, pay-per-view, video-on-demand and digital platforms. The subsidiary
currently licenses 48,000 hours of programming, dubbed or subtitled in more than 40
languages, to TV channels in more than 175 countries.
(from left) Harry Potter and the Prisoner of Azkaban broke
a number of UK box office records when it opened in May
and, as of September 2004, has made more than $300 million
in Europe. The Polar Express opens in Europe in the fall of 2004.
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FILMED ENTERTAINMENT
>>
WARNER HOME VIDEO
Jim Cardwell
President
Philippe Cardon
Senior Vice President
and Managing Director,
United Kingdom
Philippe Bastard De Crisnay
Managing Director, France
Alejandro DeMuns
Managing Director, Spain and Portugal
Neil McEwan
Managing Director, United Kingdom
Martin Treu
Managing Director and President, Italy
WARNER BROS. INTERNATIONAL
TELEVISION DISTRIBUTION
Jeffrey Schlesinger
President
Simon Kenny
Executive Vice President, Europe
Jose Abad
Senior Vice President, Southern Europe
Chris Law
Managing Director, United Kingdom
Michel LeCourt
Vice President
and General Manager, France
Rosario Ponzio
Managing Director, Italy
Sylvia Rothblum
Managing Director,
German-Speaking Territories
WARNER BROS.
INTERNATIONAL CINEMAS
Millard Ochs
President
>>
Without A Trace (left) and Smallville (right) are popular
with television audiences across Europe.
Warner Home Video
Warner Home Video has the world’s largest distribution infrastructure, and has a well-established presence in Europe with
multiple in-country offices as well as affiliates and licensees operating in more than 30 countries.
By spearheading the development of the DVD, Warner Home Video has achieved an industry-leading position in the UK
and other major European markets, distributing its own and acquired films and other video products. Recent major
successes have been the Harry Potter films, The Last Samurai, the Matrix films and Friends.
The French home video release of An American in Paris. >>
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FILMED ENTERTAINMENT
WARNER BROS. ONLINE
Jim Noonan
President
WARNER BROS. CONSUMER PRODUCTS
Dan Romanelli
President
Pilar Zuleta
Senior Vice President
and General Manager,
Europe, Middle East and Africa
Karen Benattasse
General Manager, France
Katie Black
Vice President and General Manager,
United Kingdom
Maurizio Distefano
General Manager, Italy
Warner Home Video is well established throughout Europe. Seen here, >>
a UK box set of Elvis Presley films and a Swedish Marx Brothers box set.
Warner Home Video also distributes rental and sell-through video products in a wide range of formats, including
VHS, VCD (video compact disc) and DVD. All Warner Home Video DVD and VHS products sold in Europe are manufactured in
the territory.
Consumer Products
Warner Bros. Consumer Products, a leading merchandising and licensing organisation, handles the licensing and
merchandising for all of the intellectual property in Warner Bros.’ vast film and television libraries.
In 2004, Warner Bros. Consumer Products served as the exclusive worldwide licensing agent for the Union
des Associations Européennes de Football (UEFA) European Football Championship, and recently granted a license
to London-based Rainbow Productions to produce Looney Tunes live shows in the UK, France, Germany, Italy
and Spain.
Online
In 2004, Warner Bros. Online and Vodafone signed a global distribution agreement that will bring
Warner Bros. brands to Vodafone live! customers in 16 countries in Europe, including the UK,
Germany, Italy and Spain.
Warner Bros. Online maintains separate Warner Bros. Web sites in the UK, France, Italy, Germany
and Spain, and designs sites throughout Europe for the Studio’s event films, including Harry
Potter and the Prisoner of Azkaban, Troy and Ocean’s Twelve.
>>
TM & © Warner Bros.Ent.
(from left) Long-running television hits Third Watch and ER are consistent performers
in a number of key territories, including the UK, France and Germany.
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FILMED ENTERTAINMENT
L: Robert K. Shaye
Co-Chairman and Co-CEO
R: Michael Lynne
Co-Chairman and Co-CEO
>>
Elijah Wood as Frodo in The Lord of the Rings: The Return of the King.
Photo: Pierre Vinet/New Line Productions 2003.
New Line Cinema is the oldest and
most successful independent film
company in the world. In addition
to the production, marketing and
distribution of theatrical motion
pictures, the fully integrated studio
has divisions devoted to home
entertainment, television, music,
theatre, licensing, merchandising
and international marketing and
distribution. Its subsidiary, Fine
Line Features, also produces and
distributes original
and
award-
>>
winning films.
>>
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FILMED ENTERTAINMENT
(above) Nicole Kidman stars as Anna, a woman who believes
the spirit of her dead husband has come back in the form of
a 10-year-old boy, in Fine Line Features’ dramatic mystery
Birth. Photo: James Bridges/Fine Line Features 2004.
(left) Imelda Staunton stars in Fine Line Features’ upcoming
Vera Drake. Photo: Simon Mein/Fine Line Features 2004.
NEW LINE CINEMA CORPORATION
Robert K. Shaye
Co-Chairman and Co-CEO
Michael Lynne
Co-Chairman and Co-CEO
Stephen Abramson
Chief Financial Officer
Rolf Mittweg
President and COO, New Line
Worldwide Distribution and Marketing
Toby Emmerich
President, New Line Productions
Jim Rosenthal
President, New Line Television
Russell Schwartz
President,
New Line Domestic Marketing
David Tuckerman
President,
New Line Theatrical Distribution
Ben Zinkin
Senior Executive Vice President,
Business and Legal Affairs
Stephen L. Einhorn
President, New Line Home
Entertainment
Camela Galano
President, New Line
International Releasing, Inc.
Mark Ordesky
Executive Vice President,
New Line Productions
>>
Wesley Snipes is Blade in the third installment of the series, Blade: Trinity.
Photo: Christian Lantry/New Line Productions 2003.
New Line is a pioneer in franchise filmmaking, and its Lord of the Rings trilogy is one of the
most successful and most honored series of movies ever. The trilogy’s final instalment,
The Lord of the Rings: The Return of the King, has earned more than $1 billion at the worldwide
box office, including more than $475 million in Europe, making it the second-highest-grossing
film ever. It won a record-tying 11 Academy Awards, including Best Picture and Best Director,
four Golden Globe Awards and five BAFTA (British Academy of Film and Television Arts) Awards,
including Best Film.
For 2004 – 05, the New Line/Fine Line release schedule includes After the Sunset, starring Pierce
Brosnan, Salma Hayek and Woody Harrelson; Blade: Trinity, starring Wesley Snipes; Son of
the Mask, the sequel to the comedy hit, starring Alan Cumming; Birth, which was screened
at both the Venice International Film Festival and the Deauville Festival of American Cinema,
starring Nicole Kidman and directed by Jonathan Glazer; A Dirty Shame, written and directed by
John Waters and starring Tracey Ullman, Johnny Knoxville, Selma Blair and Chris Isaak; Cellular,
starring Kim Basinger, Chris Evans, Jason Statham and William H. Macy; and The New World,
starring Colin Farrell and directed by Terrence Malick.
New Line has also acquired North American distribution rights to two of the most
anticipated European films of the year: Vera Drake, winner of the Golden Lion for best
picture at the 61st Venice International Film Festival; and The Sea Inside, directed by
Alejandro Amenábar and starring Javier Bardem (in Spanish, with New Line having
rights in English-speaking territories), which was awarded the Jury's Silver Lion
at the same Venice festival. In addition, New Line is currently producing the
motion picture His Dark Materials, based on the Phillip Pullman book.
Salma Hayek as Lola and Pierce Brosnan as Max in After the Sunset.
Photo: Glen WIlson/ New Line Productions 2003.
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FILMED ENTERTAINMENT
>>
Philip I. Kent
Chairman and CEO
>>
TCM programming features Hollywood film legends
such as Elizabeth Taylor.
With a wide range of well-known and
respected news and entertainment
brands — including CNN, Cartoon
Network and TCM (Turner Classic
Movies) — Turner Broadcasting
System Europe continues to attract
an increasing share of European
>>
television viewers.
>>
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NETWORKS
Animated favorites such as the Justice League superheroes
and Scooby-Doo (far right) have helped make Turner’s UK
kids’ channels family favorites.
CNN International’s leading coverage of global news events
informs viewers around the world.
TURNER BROADCASTING SYSTEM, INC.
Philip I. Kent
Chairman and CEO
Terence F. McGuirk
Vice Chairman, TBS, Inc., and
Chairman and President, Atlanta Braves
Victoria W. Miller
Executive Vice President and CFO
Louise Sams
Executive Vice President and
General Counsel, TBS, Inc., and
President, TBS International
Kelly Regal
Executive Vice President,
Human Resources and
Corporate Communications
Jim McCaffrey
Executive Vice President,
Operations and Strategy
Mark Lazarus
President, Turner Entertainment Group
Jim Walton
President, CNN News Group
Andrew T. Heller
President, Domestic Distribution
David R. Levy
President, Entertainment Sales
and Turner Sports
Greg D’Alba
Chief Operating Officer,
CNN Sales and Marketing
Scott Teissler
Executive Vice President,
Technology and Operations, and CTO
INTERNATIONAL/EUROPE EXECUTIVES
Nan Richards
President, TBS Europe
Nick Wrenn
Managing Editor, CNN International
Europe/Middle East/Africa
Kevin Razvi
Executive Vice President,
CNN International Ad Sales
Jeff Kupsky
Executive Vice President,
TBS Europe
Cartoon Network, Boomerang and Toonami
Introduced to Europe more than a decade ago, Cartoon Network offers channels in 11 languages — English, Danish, Dutch,
French, Hungarian, Italian, Norwegian, Polish, Romanian, Spanish and Swedish — to more than 33 million homes in some
100 countries. The first network of its kind in Europe, the Middle East and Africa, Cartoon Network provides
round-the-clock animated comedy, with such original programming as The Powerpuff Girls, Dexter’s
Laboratory, Codename: Kids Next Door, The Cramp Twins and Ed, Edd n Eddy. Cartoon Network
content is also available in a variety of other formats — its award-winning Web sites, games
on digital cable and satellite, mobile devices via SMS and its best-selling magazines.
Boomerang, a 24-hour animation channel for the entire family, was launched in the UK in
2000 and later in France and Italy. It showcases such timeless favourites as Scooby-Doo,
Tom and Jerry, Bugs Bunny and The Flintstones. In the UK, Turner launched Toonami in
2003, an action and adventure channel featuring exclusive shows including Star Wars:
Clone Wars, Duel Masters, Teen Titans, Ultimate Muscle, Dragonball and He-Man & The
Masters of the Universe.
TCM (Turner Classic Movies)
Turner Classic Movies draws from an extensive library
of films, ranging from classics of cinema’s Golden Age
to blockbusters of recent years, and presents them
innovatively with behind-the-scenes insights, illuminating
interviews and revealing documentaries.
Since its launch in 1999, TCM Europe has developed a
significant profile, especially in the UK, France and Spain,
and is now available via cable, satellite and digital terrestrial
platforms in some 30 million households throughout
Europe, the Middle East and Africa, with six regional feeds in
10 different languages.
TM & © Hanna-Barbera
TM
DC Comics & © Warner Bros. Ent.
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NETWORKS
>>
Over the past quarter-century, CNN has
become a trusted source of news and
information around the world. The CNN
brand currently comprises 10 TV
networks and services, seven Web
sites and eight content distribution
services, including 15 international
CNN brand extensions. Together, they
reach more than one billion people
globally. In addition to its commitment
to covering breaking news, CNN offers
a full range of regional programming
— including business, sports, the
environment, travel and technology.
18
NETWORKS
CNN correspondents, including Nic Robertson,
Kelly Wallace and Alessio Vinci, report from the
field on breaking news stories.
London-based anchor and correspondent Richard Quest >>
is one of CNN’s best-known international journalists.
CNN in Europe
CNN London, CNN’s largest production centre outside the US, produces more than 50 hours of programming per week. As
CNN’s European headquarters, it is the major deployment bureau for news correspondents across Europe and the rest of
the world in support of CNN’s global newsgathering operations.
CNN is available in more than 89 million households and hotel rooms in Europe. In addition to its flagship television
services, CNN news is also available through a variety of interactive services, including CNN.com International edition,
CNNArabic.com and through CNN Mobile. In 2004, CNN Mobile expanded its services with the launch of a UMTS-enabled service
that, in partnership with mobile network operators, delivers CNN International live to mobile devices making CNN the first
news channel in Europe to deliver live television news to mobile platforms.
CNN Joint Ventures
To make CNN content available to as many
audiences as possible worldwide, CNN
continues to build local-language feeds in
Europe, working with regional partners to
provide local channels with the benefits
of CNN’s global editorial and production
expertise. These services include Germany’s
leading 24-hour news channel, n-tv,
50%-owned by CNN and operated in
partnership with RTL, and CNN+ and CNN
Turk, 24-hour local-language news services
in Spain and Turkey.
Anchor Hala Gorani reports from the London newsroom
in CNN’s European headquarters.
19
NETWORKS
>>
Chris Albrecht
Chairman and CEO
>>
The Sopranos
Photo: Abbot Genser/HBO.
With 30 years of innovative success, Home
Box Office has helped to define home
entertainment in the United States and gained
international renown by exporting its
groundbreaking original programming around
the world. HBO Central European ventures,
first established in 1991 with the launch of
an HBO-branded service in Hungary, offer
basic and pay television channels for
cable, direct-to-home and MMDS platforms
throughout Central Europe in partnership with
20
NETWORKS
>>
Sony and Disney.
(from left): Angels In America, Photo: Stephen Goldblatt/HBO. American Splendor, Photo: John Clifford/HBO.
Sex and the City, Photo: Craig Blankenhorn/HBO.
HOME BOX OFFICE, INC.
Chris Albrecht
Chairman and CEO
Bill Nelson
Chief Operating Officer
Harold Akselrad
Executive Vice President,
Business Affairs, and General Counsel
David Baldwin
Executive Vice President,
Programme Planning
Colin Callender
President, HBO Films
Shelley Fischel
Executive Vice President,
Human Resources and Administration
Michael Gabriel
Senior Vice President,
Information Technology, and CIO
Ross Greenburg
President, HBO Sports
Eric Kessler
President, Sales and Marketing
Henry McGee
President, HBO Video
Sheila Nevins
President, HBO Documentaries
and Family
Richard Plepler
Executive Vice President
Steven Rosenberg
President, HBO International
Phil Roter
Chief Executive Officer,
HBO Central and Eastern Europe
Rob Roth
Executive Vice President and CFO
Steve Scheffer
President, Film Programming,
Video and Enterprises
Charles Schreger
President, International Distribution
Carolyn Strauss
President, HBO Entertainment
Bob Zitter
Executive Vice President,
Technology Operations, and CTO
Carmi Zlotnik
Executive Vice President,
Creative Operations,
Business Development and New Media
HBO in Hungary
Based in Budapest, the channel provides its subscribers with a mix of Hungarian, American and European films — all dubbed
or subtitled in Hungarian — and original programming, including documentaries, music events and family fare. In 1995, HBO
in Hungary launched Spektrum, a Hungarian-language documentary channel featuring science, nature, travel and
history programmes.
HBO in Czech Republic and Slovakia
Introduced in 1994 – 95, HBO’s Czech venture produces a premium channel offering top-quality movies, exclusive music and
sports specials, documentaries, nature films and children’s programming in Czech. The venture also provides two Czechlanguage basic services: Spektrum, a documentary channel produced for the Czech and Slovak cable markets, and
SuperMax, the region’s leading local-language channel dedicated to children.
HBO in Poland
In 1996, HBO Central European ventures launched in Central Europe’s largest market, Poland, with a schedule of films,
documentaries, sports, music and other specials in Polish. In keeping with its commitment to partner with local film
production companies, HBO Poland co-produced the theatrical film Quo Vadis, the largest Polish film production ever. The HBO
Poland venture also locally produces a popular live stand-up comedy programme called HBO na Stojaka.
HBO in Romania
In 1998, an HBO-branded Romanian-language pay television service was introduced. The service was expanded into Moldova
in 2000 and Bulgaria two years later. HBO Romania offers subscribers 18 hours per day of commercial-free programming
weekdays and 24 hours per day on weekends, including films, documentaries, sports and music events.
HBO International Distribution
HBO International Distribution manages the worldwide distribution of HBO original programming to all media platforms, including
theatrical, television and video. Sales have included HBO’s popular series The Sopranos, Six Feet Under and Curb Your Enthusiasm,
as well as the acclaimed HBO Films’ Angels in America, The Life and Death of Peter Sellers, American Splendor and Elephant, which
won the Palme d’Or at last year’s Cannes Film Festival.
HBO Video
In 2003, HBO Video, the company’s DVD and cassette distribution division, expanded its international reach through a
distribution agreement with Warner Home Video. HBO Video’s programming is now distributed in more than 90 countries, offering
an extensive array of programmes ranging from HBO’s critically acclaimed original series and films to theatrical features.
Curb Your Enthusiasm
Photo: John P. Johnson/HBO.
21
NETWORKS
>>
Jonathan F. Miller
Chairman and CEO
Since its launch in 1995, AOL Europe
has established itself in the UK,
France and Germany as one of the
top three subscription online services.
With some 6.3 million members, including
more than one million broadband users
(as of 30 June 2004), AOL Europe
broke even in 2003 Operating Income
Before Depreciation and Amortization, and
earnings growth is expected in 2004.
22
AOL
AMERICA ONLINE, INC.
Jonathan F. Miller
Chairman and CEO
Ted Leonsis
Vice Chairman, America Online, Inc.,
and President, AOL Core Service
Joseph Ripp
Vice Chairman
Lisa Hook
President, AOL Broadband,
Premium and Platform Services
J. Michael Kelly
Chairman and CEO,
AOL International and Web Services
Joe Redling
Chief Marketing Officer
Stephen Swad
Executive Vice President and CFO
John McKinley
Chief Technology Officer
and President, AOL Technologies
Michael J. Kelly
President, AOL Media Networks
Carol Kline
Chief Information Officer
Jim Bankoff
Executive Vice President,
AOL Programming, Properties
and Productions
Michael G. Barrett
Executive Vice President,
Sales and Partner Marketing
Randall Boe
Executive Vice President
and General Counsel
John Buckley
Executive Vice President,
Corporate Communications
Kevin Conroy
Executive Vice President and COO,
AOL for Broadband
AOL Europe recently introduced AOL 9.0, its new client software, which has been winning rave reviews. AOL 9.0 offers, free
of any additional charge to members, state-of-the-art spam-fighting and anti-spyware tools, improved e-mail and instant
TM
messaging features, AOL TopSpeed technology and a host of other upgrades. AOL Europe also launched an alliance with
iTunes that offers AOL’s European members easy access to the pioneering music store. AOL Europe’s financial performance
underscores the strength of its businesses as it continues to make significant progress in providing first-rate online
products and services to AOL members.
AOL UK
Launched in 1996, AOL UK is the country’s number 1 subscription online service and has approximately 2.3 million members
(as of 30 June 2004), including more than 370,000 broadband users. In addition, it has earned recognition from Reader’s
Digest as the most trusted Internet brand in the UK for four years in a row. This recognition reflects AOL UK’s investment
and continuing innovation in its Parental Controls functionality.
AOL UK offers its members 24 channels of content as well as commerce across
its service, in conjunction with such leading partners as Asda, Virgin Megastores,
Blockbuster, Packard-Bell, MBNA, the BBC and Sky. AOL UK also has a distribution
agreement with Dixons Group, Europe’s leading electronics retailer.
AOL UK operates the AOL, CompuServe, Netscape, and netbreeze brands in the UK
and employs more than 400 people in London and 900 in Ireland.
23
AOL
Joel Davidson
Executive Vice President, Web Access
David Gang
Executive Vice President, AOL Products
Mark Greatrex
Executive Vice President,
Marketing and Brand Development
Matt Korn
Executive Vice President,
Network and Data Center Operations
Daniel Krifcher
Executive Vice President and COO,
AOL Dial-Up Business
David Lebow
Executive Vice President and
General Manager, AOL Media Networks
Lance Miyamato
Executive Vice President,
Human Resources
Neil Smit
Executive Vice President,
Member Development
Gerald Sokol Jr.
Executive Vice President,
Marketing Operations
Lewis Taffer
Executive Vice President,
Acquisition Marketing
Tatiana Gau
Chief Trust Officer and Senior Vice
President, Integrity Assurance
AOL France
With more than 1.2 million members (as of 30 June 2004), AOL France is the nation’s number 3 online service and was
recently recognised by Nielsen NetRatings as the number 1 site in frequency of use (22 sessions per user per month) and
time spent (almost six hours per visitor per month).
AOL France offers its subscribers 16 channels and local content from partners such as TF1, Agence France Presse, L’Equipe
and Les Echos.
>>
There are more than 1,300 AOL France employees working in Neuilly, Marseille and Casablanca.
24
AOL
The AOL Arena in Hamburg is the best-known soccer stadium
in Germany as the result of an innovative sponsorship that
has greatly improved AOL’s visiblity in Germany.
AOL EUROPE
Philip Rowley
President, AOL Europe
Karen Thomson
Chief Executive Officer, AOL UK
Carlo d’Asaro Biondo
Chief Executive Officer, AOL France
Stan Laurent
President and Managing Director,
AOL Germany
AOL Germany
The number 3 subscription service in Germany, AOL Germany has approximately 2.8 million members, including more than
500,000 broadband users (as of 30 June 2004). It has continued to improve the member experience with such innovative
products as the AOL Musik download service. Recently, in a Stern survey, AOL Germany was rated the best-known and liked
German online brand.
The AOL service provides valuable content and commerce opportunities through 10 channels, and has partnership
agreements with Gruner & Jahr, IDG, Men’s Health, DPA, Monster, Dell, eBay, Masterfoods and Philips. In addition to AOL.de,
AOL Germany also operates the Compuserve.de and Netscape.de portals. It employs more than 1,300 people in Hamburg,
Duisburg and Saarbrucken.
25
AOL
People
Our Most Valuable Asset
Time Warner’s studios, film and
programming
libraries,
publishing
operations and television and interactive
networks are of immense value. But
what gives these assets their ultimate
worth and significance are the women
and men who drive, define and distinguish everything Time Warner does.
People are and always will be our most
valuable asset. They set us apart from
— and ahead of — our competitors.
Their long-term development is essential
to Time Warner’s success.
26
PEOPLE
To maximize the success of our company and our people, Time Warner has identified and committed itself to four
core principles: leadership, collaboration, innovation and diversity. In the next two years, the leadership-development
programmes we have introduced will reach more than 1,000 executives and managers, and similar programmes are being
launched for a wider population. Building on these leadership efforts, we are intent on creating an environment in which
collaboration and innovation are viewed not as the prerogative of a few but as everyday ingredients of how we live, work
and do business.
As a premier source of global information and entertainment, we must continually seek to expand our access to the
world’s rich variety of ideas, perspectives and cultures, as well as to deepen our understanding of the audiences and
markets we serve. Diverse perspectives are crucial to the way we do business and must be reflected at every level of the
company and across every division.
The policies and programmes we are instituting to attract and keep the best people, and to encourage them to reach their full
potential, are vital to our competitive strength and success. As media proliferate, and as the spread of new technologies
expands consumer demand, the competition for versatile, productive people will become more intense. Throughout our
history, the uniquely inventive and highly motivated people of our company have enabled Time Warner to set the pace in
its industries, creating a family of brands that has no peer. We are committed to keeping it that way.
27
PEOPLE
Corporate
Responsibility
Investing in Tomorrow’s Leaders
Throughout its long history, Time
Warner has taken pride in serving
the public interest as well as the
interests of its shareholders. Today,
the philanthropic and volunteer
activities of the company and
its employees are focused on
enabling diverse and underserved
young people to acquire the skills
they need to succeed.
28
CORPORATE RESPONSIBILITY
Time Warner has a strong tradition of supporting education and the arts. Because we believe in creativity, innovation,
diversity and leadership, our philanthropy programmes company-wide are focused on fostering these key values. In the
field of education, we engage young people in the media and creative arts, and work to provide greater opportunities for
youth to attend college. We support after-school programmes that enable youngsters to pursue both their educational and
creative interests, in fields from filmmaking to digital technology to dance. In the arts, we have long been a supporter of
major cultural institutions and, more recently, we have been working to promote diverse voices in film and theatre. The
arts are at the heart of some of our core businesses, and we strive to promote a high level of creativity in the community.
Worldwide, the company’s businesses support civic and philanthropic efforts, including volunteer days, nonprofit-board
placement and training programmes, mentoring and community fundraising events. Turner Volunteer Day, for example,
empowers employees to identify and support community projects in the UK, Italy, Spain, France, Germany and Denmark.
>>
Time Warner recognises employees who perform exemplary public service around the globe with the annual Andrew
Heiskell Community Service Awards and provides Volunteer Grants to nonprofit organisations to which Time Warner
people give their time.
Photo: Karen Davies.
29
CORPORATE RESPONSIBILITY
European Businesses at a Glance
Time & Fortune Group
Time
Fortune
Livingetc
Marie Claire
Practical Parenting
Wedding and Home
Woman & Home
In Style Group
In Style Germany
In Style Greece
In Style UK
IPC Media
IPC Connect
Chat
Mizz
Now
Woman
Woman’s Own
Woman’s Weekly
IPC SouthBank
25 Beautiful Homes
25 Beautiful Kitchens
Country Homes & Interiors
Essentials
Family Circle
Hair
Homes & Gardens
Ideal Home
30
IPC tx
Soaplife
TV & Satellite Week
TVTimes
What’s On TV
IPC ignite!
Loaded
NME
Nuts
Uncut
The Wallpaper* Group
Wallpaper*
IPC Country & Leisure Media
4x4
Aeroplane
Amateur Gardening
Amateur Photographer
Angler’s Mail
Bird Keeper
EUROPEAN BUSINESSES AT A GLANCE
Better Digital Photography
Cage & Aviary Birds
Caravan
Classic Boat
Country Life
Cycle Sport
Cycling Weekly
Decanter
Eventing
The Field
The Golf+
Golf Monthly
The Guitar Magazine
Hi-Fi News
Horse
Horse & Hound
International Boat Industry
Land Rover World
MBR - Mountain Bike Rider
Mini World
Model Collector
Motor Boat & Yachting
Motor Boats Monthly
Motor Caravan
Park Home & Holiday Caravan
Practical Boat Owner
Prediction
Racecar Engineering
The Railway Magazine
Rugby World
Ships Monthly
Shoot Monthly
Shooting Gazette
Shooting Times
Sporting Gun
Stamp Magazine
SuperBike
VolksWorld
Web User
What Digital Camera
Women & Golf
World Soccer
Yachting Monthly
Yachting World
Time Warner
Book Group UK
Abacus
Atom
Little, Brown
Orbit
Time Warner AudioBooks
Time Warner Books
Time Warner Paperbacks
Virago
Warner Bros.
Entertainment
TBS
Home Box Office
International–Europe HBO Enterprises
Warner Bros. Pictures
Warner Bros. Television
Warner Home Video
Warner Bros. Consumer Products
Telepictures Productions
Warner Independent Pictures
Warner Bros. Interactive
Entertainment
Warner Bros. Games
Warner Bros.
International Cinemas
Warner Bros. Online
Warner Bros. Animation
Looney Tunes, Hanna-Barbera
DC Comics
MAD Magazine
Cartoon Network — 11 locallanguage feeds throughout
EMEA
Boomerang — local-language
feeds in UK, France, Italy
TCM — 6 regional feeds in 10
languages throughout EMEA
Toonami — UK
CNN International — EMEA feed
CNN Mobile
CNN International Web site at
http://edition.cnn.com
CNNArabic.com
Joint Ventures
CNN+
CNN Turk
n-tv
New Line Cinema
New Line Cinema
Fine Line Features
New Line Home Entertainment
New Line International Releasing
New Line New Media
New Line Television
New Line Distribution
New Line Merchandising/Licensing
New Line Music
New Line Theatricals
HBO Video
Joint Ventures
HBO Bulgaria
HBO Czech
HBO Hungary
HBO Poland
HBO Romania
AOL Europe
AOL Service
AOL Anywhere
CompuServe
ICQ
Netscape
AOL Music
AOL Instant Messenger
AOL Broadband
TIME WARNER GLOBAL MARKETING
Time Warner’s Global Marketing group
is committed to creating enduring
relationships with its media and
marketing partners that strengthen
their long-term competitive edge. At
the same time, Global Marketing is
focused on driving the growth of
advertising and marketing revenues
across all of Time Warner’s businesses.
As well as providing single-point
access to the full breadth of Time
Warner’s content, media platforms,
consumer relationships and marketing
infrastructure, Global Marketing
develops innovative ideas and
customised, integrated programmes
for its largest partners that capitalise
on the company’s worldwide media
and entertainment assets.
31
EUROPEAN BUSINESSES AT A GLANCE
Who’s Who
Time Warner Board of Directors
Richard D. Parsons
Chairman of the Board and CEO,
Time Warner Inc.
Frank J. Caufield
Co-Founder,
Kleiner Perkins Caufield & Byers
James L. Barksdale
President and CEO,
Barksdale Management Corporation
Robert C. Clark
Distinguished Service Professor,
Harvard University
Stephen F. Bollenbach
Co-Chairman and CEO,
Hilton Hotels Corporation
Miles R. Gilburne
Managing Member,
ZG Ventures, L.L.C.
Stephen M. Case
Co-Founder,
America Online, Inc.
Ambassador Carla A. Hills
Chairman and CEO,
Hills & Company, and Former
United States Trade Representative
Reuben Mark
Chairman and CEO,
Colgate-Palmolive Company
Michael A. Miles
Former Chairman and CEO,
Philip Morris Companies Inc.
Kenneth J. Novack
Former Vice Chairman,
Time Warner Inc.
R. E. “Ted” Turner
Founder,
Turner Broadcasting System, Inc.
Francis T. Vincent, Jr.
Chairman,
Vincent Enterprises
Time Warner Senior Corporate Executives
Richard D. Parsons
Chairman of the Board and CEO
Jeffrey L. Bewkes
Chairman,
Entertainment & Networks Group
Don Logan
Chairman,
Media & Communications Group
Wayne H. Pace
Executive Vice President
and Chief Financial Officer
Paul T. Cappuccio
Executive Vice President
and General Counsel
Robert M. Kimmitt
Executive Vice President,
Global Public Policy
Edward I. Adler
Executive Vice President,
Corporate Communications
Patricia Fili-Krushel
Executive Vice President,
Administration
Olaf J. Olafsson
Executive Vice President
Time Warner Senior Operating Officers
Chris Albrecht
Chairman and CEO,
Home Box Office, Inc.
Laurence J. Kirshbaum
Chairman and CEO,
Time Warner Book Group Inc.
Barry M. Meyer
Chairman and CEO,
Warner Bros. Entertainment Inc.
Ann S. Moore
Chairman and CEO,
Time Inc.
Glenn A. Britt
Chairman and CEO,
Time Warner Cable Inc.
Michael Lynne
Co-Chairman and Co-CEO,
New Line Cinema Corporation
Jonathan F. Miller
Chairman and CEO,
America Online, Inc.
Robert K. Shaye
Co-Chairman and Co-CEO,
New Line Cinema Corporation
Philip I. Kent
Chairman and CEO,
Turner Broadcasting System, Inc.
32
WHO’S WHO
Corporate Headquarters
One Time Warner Center
New York, NY 10019-8016
Time Warner Public Policy Europe
Lacon House
84 Theobald’s Road
London WC1X 8WA
Tel: +44-(0)-20-7693-1850
Iris Knobloch
Senior Vice President,
International Relations
and Strategic Policy Europe
Carolyn Dailey
Vice President and
Senior Strategic Advisor,
Public Policy Europe
Caution Concerning Forward-Looking Statements
This document includes certain “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements are based
on management’s current expectations and beliefs and are naturally subject to
uncertainty and changes in circumstances. Actual results may vary materially
from those expressed or implied by the statements herein due to changes in
economic, business, competitive, technological, strategic and/or regulatory
factors and the other factors affecting the operation of the businesses of Time
Warner Inc. More detailed information about these factors is set forth in filings by
Time Warner with the United States Securities and Exchange Commission,
including Time Warner’s most recent quarterly report on Form 10-Q and annual
report on Form 10-K. Time Warner is under no obligation to, and expressly
disclaims any such obligation to, update or alter its forward-looking statements,
whether as a result of new information, future events or otherwise.
As of September 2004, Time Warner has an overall 79% economic interest in its
cable business, through an 82.1% ownership interest in Time Warner Cable Inc.
(representing an 89.3% voting interest) and a partnership interest in Time Warner
Entertainment Company, L.P., representing a 1% common equity interest and a $2.4
billion preferred component. Time Warner Cable Inc. owns 94.3% of the common
equity of TWE.
All trademarks and service marks referenced herein are owned by the respective
Time Warner company and/or its affiliates.
©2004 Time Warner Inc. Published September 2004.
www.timewarner.com