2.2.0.25falsefalse100200 - Disclosure - Business Acquisitions and Dispositionstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $FROM_Jan01_2010_TO_Dec31_2010http://www.sec.gov/CIK0001105705duration2010-01-01T00:00:002010-12-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDPerShareDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0PureStandardhttp://www.xbrl.org/2003/instancepurexbrli0USDUSD$2true0twx_BusinessAcquisitionsAndDispositionsDisclosureAbstracttwxfalsenadurationBusiness acquisitions and dispositions disclosure abstractfalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringBusiness acquisitions and dispositions disclosure abstractfalsefalseBusiness Acquisitions and Dispositions Disclosure [Abstract]3false0twx_BusinessAcquisitionsDispositionsAndRelatedTransactionsTextBlocktwxfalsenadurationDisclosure includes the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal,...falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse003.       BUSINESS ACQUISITIONS AND DISPOSITIONS Shed Media On October 13, 2010, Warner Bros. acquired an approximate 55% interest in Shed Media plc (“Shed Media”), a leading television producer in the U.K., for $100 million in cash, net of cash acquired. Warner Bros. has a call right that enables it to purchase a portion of the interests held by the other owners of Shed Media in 2014 and the remaining interests held by the other owners in 2018. The other owners have a reciprocal put right that enables them to require Warner Bros. to purchase a portion of their interests in Shed Media in 2014 and the remaining interests held by them in 2018. The operating results of Shed Media did not significantly impact the Company's consolidated financial results for the year ended December 31, 2010. Chilevisión On October 6, 2010, Turner acquired Chilevisión, a television broadcaster in Chile, for $134 million in cash, net of cash acquired. The operating results of Chilevisión did not significantly impact the Company's consolidated financial results for the year ended December 31, 2010. HBO Asia, HBO South Asia and HBO LAG On January 2, 2008, Home Box Office purchased additional interests in HBO Asia and HBO South Asia and, on December 19, 2008, purchased additional interests in HBO LAG. The additional interests purchased in each of these multi-channel premium pay and basic cable television services ranged in size from approximately 20% to 30%, and the aggregate purchase price was approximately $288 million. On March 9, 2010, Home Box Office purchased additional interests in HBO LAG for $217 million in cash, which resulted in Home Box Office owning 80% of the equity interests of HBO LAG. On November 18, 2010, one of the remaining partners in HBO LAG exercised its put option to sell its remaining 8% equity interest in HBO LAG for approximately $65 million in cash. The transaction is expected to close in the first quarter of 2011 and will result in Home Box Office owning 88% of the equity interests of HBO LAG. HBO Asia, HBO South Asia and HBO LAG are considered VIEs and, because voting control of each of the entities is shared equally with other investors, the Company has determined it is not the primary beneficiary of these entities. Accordingly, Home Box Office accounts for these investments under the equity method of accounting.  HBO Central Europe Acquisition On January 27, 2010, Home Box Office purchased the remainder of its partners' interests in HBO Central Europe (“HBO CE”) for $136 million in cash, net of cash acquired. HBO CE operates the HBO and Cinemax premium pay television services serving various territories in Central Europe. The Company has consolidated the results of operations and financial condition of HBO CE beginning January 27, 2010. Prior to this transaction, Home Box Office held a 33% interest in HBO CE, which was accounted for under the equity method of accounting. Upon the acquisition of the controlling interest in HBO CE, a gain of $59 million was recognized reflecting the excess of the fair value over the Company's carrying cost of its original investment in HBO CE. The fair value of Home Box Office's original investment in HBO CE of $78 million was determined using the consideration paid in the January 27, 2010 purchase, which was primarily derived using a combination of market and income valuation techniques. The operating results of HBO CE did not significantly impact the Company's consolidated financial results for the year ended December 31, 2010. CME Investment On May 18, 2009, the Company completed an equity investment in Central European Media Enterprises Ltd. (“CME”) for $246 million in cash. As of December 31, 2010, the Company holds an approximate 29.5% economic interest in CME. CME is a publicly-traded broadcasting company operating leading networks in seven Central and Eastern European countries. In connection with its investment, Time Warner agreed to allow CME founder and Non-Executive Chairman Ronald S. Lauder to vote Time Warner's shares of CME for at least four years, subject to certain exceptions. The Company's investment in CME is being accounted for under the cost method of accounting. Summary of Discontinued Operations AOL Separation from Time Warner On July 8, 2009, the Company repurchased Google Inc.'s (“Google”) 5% interest in the AOL business for $283 million in cash, which amount included a payment in respect of Google's pro rata share of cash distributions to Time Warner by AOL attributable to the period of Google's investment in AOL. After repurchasing this stake, Time Warner owned all of AOL. On December 9, 2009 (the “Distribution Date”), the Company disposed of all of its shares of AOL Inc. (“AOL”) common stock. The disposition was made pursuant to a separation and distribution agreement entered into on November 16, 2009 by Time Warner and AOL for the purpose of legally and structurally separating AOL from Time Warner (the “AOL Separation”). The AOL Separation was effected as a pro rata dividend of all shares of AOL common stock held by Time Warner in a spin-off to Time Warner stockholders.  With the completion of the AOL Separation, the Company disposed of its AOL segment in its entirety. Accordingly, the Company has presented the financial condition and results of operations of its former AOL segment in the consolidated financial statements through December 9, 2009 as discontinued operations.  TWC Separation from Time Warner  On March 12, 2009 (the “Distribution Record Date”), the Company disposed of all of its shares of Time Warner Cable Inc (“TWC”) common stock. The disposition was made pursuant to a separation agreement entered into on May 20, 2008, among Time Warner, TWC and certain of their subsidiaries (the “Separation Agreement”) for the purpose of legally and structurally separating TWC from Time Warner (the “TWC Separation”). The TWC Separation was effected as a pro rata dividend of all shares of TWC common stock held by Time Warner in a spin-off to Time Warner stockholders.  Prior to the Distribution Record Date, on March 12, 2009, TWC, in accordance with the terms of the Separation Agreement, paid a special cash dividend of $10.27 per share to all holders of TWC Class A common stock and TWC Class B common stock as of the close of business on March 11, 2009 (aggregating $10.856 billion) (the “Special Dividend”), which resulted in the receipt by Time Warner of $9.253 billion. With the completion of the TWC Separation, the Company disposed of its Cable segment in its entirety. Accordingly, the Company has presented the financial condition and results of operations of its former Cable segment in the consolidated financial statements through March 12, 2009 as discontinued operations.  Financial data for the discontinued operations is as follows (millions, except per share amounts):<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td colspan="5" style="width: 180px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:180px;">Years Ended December 31,</td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td colspan="2" style="width: 85px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:85px;">2009</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td colspan="2" style="width: 85px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:85px;">2008</td></tr><tr style="height: 5px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:75px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:75px;"> </td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; text-align:left;border-color:#000000;min-width:75px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; text-align:left;border-color:#000000;min-width:75px;"> </td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;">Total revenues </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"> 6,500</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"> 21,365</td></tr><tr style="height: 5px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"> </td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;">Pretax income (loss)</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"> 849</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"> (14,227)</td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;">Income tax provision </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"> (421)</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"> 4,668</td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;">Net income (loss)</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 75px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"> 428</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 75px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"> (9,559)</td></tr><tr style="height: 5px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:75px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:75px;"> </td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;">Net income (loss) attributable to Time Warner Inc. shareholders </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 75px; border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"> 389</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 75px; border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"> (8,308)</td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:75px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:75px;"> </td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;">Per share information attributable to Time Warner Inc. common shareholders:</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"> </td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;">Basic net income (loss) per common share </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 75px; border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"> 0.32</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 75px; border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"> (6.95)</td></tr><tr style="height: 5px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"> </td></tr><tr style="height: 14px"><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;">Diluted net income (loss) per common share </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 75px; border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"> 0.32</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 10px; border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 75px; border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"> (6.95)</td></tr></table></div>Discontinued operations for the year ended December 31, 2009 included direct transaction costs (e.g., legal and professional fees) related to the separations of TWC and AOL of $112 million. Discontinued operations for the year ended December 31, 2008, included such direct transaction and financing costs related to the TWC Separation of $206 million.  Also included in discontinued operations for 2008 was a noncash impairment of $14.822 billion and a related tax benefit of $5.729 billion to reduce the carrying values of certain cable franchise rights at TWC and a noncash impairment of $2.207 billion and a related tax benefit of $90 million to reduce the carrying value of goodwill at AOL. The Networks segment of Time Warner recognized approximately $170 million of Subscription revenues from TWC in 2009 through the Distribution Record Date and $840 million for the year ended December 31, 2008. 3.       BUSINESS ACQUISITIONS AND DISPOSITIONS Shed Media On October 13, 2010, Warner Bros. acquired anfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclosure includes the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain or loss recognized in the income statement and the income statement caption that includes that gain or loss, amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Description of a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. This element may be used as a single block of text to encapsulate the entire disclosure (including data and tables) regarding business combinations, including leverage buyout transactions (as applicable).No authoritative reference available.falsefalse3. BUSINESS ACQUISITIONS AND DISPOSITIONS12Business Acquisitions and DispositionsUnKnownUnKnownUnKnownUnKnownfalsetrue