X0306 5 2016-12-31 1 0 0 0001105705 TIME WARNER INC. TWX 0001071567 NOVACK KENNETH J ONE TIME WARNER CENTER NEW YORK NY 10019 1 Former Director Common Stock, Par Value $.01 2016-06-09 5 G 0 3970 0 D 5061 D The Reporting Person retired as a director of the Company on June 17, 2016. As a result, the Reporting Person is no longer subject to Section 16 in connection with his transactions in the Company's equity securities, and will no longer report any such transactions on Form 4 or Form 5. By: Brenda C. Karickhoff for Kenneth J. Novack 2017-01-27