{ "kind": "all", "value": "all", "collectionKey": "slides:all:all:all-document-kinds:all-producers:all-orientations", "filters": { "documentKinds": [], "sourceTypes": [], "orientations": [] }, "total": 319975, "page": 1900, "pageSize": 60, "pageCount": 5333, "rows": [ { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 209, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Contains two exhibits: 3.9 (Comparable Spreads) and 3.10 (Investment Grade Debt Issuance).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/209", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-209", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 210, "slideType": "appendix", "function": "appendix", "notes": "This slide serves as a historical record of corporate financial actions and credit agency responses.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/210", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-210", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 211, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes detailed footnotes regarding pro forma adjustments for Adelphia/Comcast transactions and shareholder litigation settlements.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/211", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-211", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 212, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Includes two exhibits: debt maturity profile and net debt/OIBDA peer comparison.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/212", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-212", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 213, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Includes credit ratings from Moody's and S&P for each entity.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/213", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-213", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 214, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide uses a comparative table/list structure to show that peers have been more active in returning capital to shareholders.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/214", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-214", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 215, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide uses two exhibits to argue that Time Warner's capital allocation (specifically buybacks) has been historically ineffective compared to peers and in its own past performance.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/215", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-215", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 216, "slideType": "thesis_headline", "function": "propose_solution", "notes": "This is a text-heavy slide from an activist investor presentation (Lazard) critiquing Time Warner's capital allocation strategy.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/216", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-216", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 217, "slideType": "comparison_table", "function": "compare_peers", "notes": "Includes a line chart showing spread volatility over time and a detailed table comparing credit ratings, yields, and outstanding debt for Time Warner, Disney, News Corp, and Viacom.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/217", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-217", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 218, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes detailed credit statistics for TWX Consolidated, TWX (ex. TWC), and TWC, plus cumulative incremental debt capacity scenarios.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/218", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-218", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 219, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes two line charts comparing Management Repurchase Plan vs $20.0b Repurchase Plan.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/219", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-219", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 220, "slideType": "thesis_headline", "function": "propose_solution", "notes": "Part of a larger activist deck (Chapter 3). Mentions a future Chapter 4 for valuation details.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/220", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-220", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 221, "slideType": "comparison_table", "function": "compare_peers", "notes": "Includes two exhibits: a table comparing accretion/dilution and a bar chart comparing FCF per share over time.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/221", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-221", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 222, "slideType": "comparison_table", "function": "compare_peers", "notes": "Includes detailed footnotes regarding methodology and assumptions for TWX and peers.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/222", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-222", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 223, "slideType": "valuation_table", "function": "compare_peers", "notes": "The slide uses a comparison table to justify capital allocation towards share buybacks rather than M&A.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/223", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-223", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 224, "slideType": "valuation_table", "function": "quantify_opportunity", "notes": "The slide argues that restructuring into separate entities allows for higher aggregate debt capacity than the consolidated entity.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/224", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-224", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 225, "slideType": "appendix_data", "function": "analyze_data", "notes": "The slide provides a valuation table for non-core assets and discusses the feasibility of a $20B share repurchase program.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/225", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-225", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 226, "slideType": "executive_summary", "function": "summarize", "notes": "Chapter 3: Financial Strategy and Debt Capacity", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/226", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-226", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 227, "slideType": "key_messages", "function": "propose_solution", "notes": "This slide outlines a specific capital allocation strategy (debt vs. dividend) for a standalone entity.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/227", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-227", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 228, "slideType": "comparison_table", "function": "diagnose_problem", "notes": "Part of a larger financial strategy document regarding AOL's debt capacity.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/228", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-228", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 229, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes detailed footnotes regarding interest rates, tax rates, and debt adjustments.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/229", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-229", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 230, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Includes detailed footnotes regarding debt adjustments and credit ratings.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/230", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-230", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 231, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Page 209 from a Lazard financial strategy document.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/231", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-231", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 232, "slideType": "key_messages", "function": "present_framework", "notes": "Includes a detailed table of considerations for the financial strategy and a footnote explaining specific debt and liability calculations.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/232", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-232", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 233, "slideType": "key_messages", "function": "summarize", "notes": "Page 211 of a Lazard presentation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/233", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-233", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 234, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes footnotes regarding OIBDA definition, interest rates, tax rates, and adjusted credit statistics.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/234", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-234", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 235, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide uses a table to compare credit ratings, FCF statistics, and leverage ratios across multiple entities.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/235", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-235", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 236, "slideType": "key_messages", "function": "propose_solution", "notes": "Part of a larger financial strategy chapter; justifies the choice of an investment-grade rating over a more aggressive, non-investment-grade capital structure.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/236", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-236", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 237, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes detailed footnotes (a-h) explaining assumptions for interest, dividends, and corporate expenses.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/237", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-237", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 238, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes detailed footnotes (a-h) explaining assumptions for interest, corporate expenses, and debt repayment.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/238", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-238", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 239, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide argues that despite higher initial leverage, the company's scale and competitive position justify an investment-grade rating.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/239", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-239", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 240, "slideType": "key_takeaways", "function": "summarize", "notes": "The slide serves as a summary of credit analysis for a potential spin-off or standalone entity.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/240", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-240", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 241, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Page 219 from a Lazard financial strategy document.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/241", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-241", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 242, "slideType": "appendix_data", "function": "analyze_data", "notes": "Contains detailed financial data for five peer companies over a six-year period.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/242", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-242", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 243, "slideType": "valuation_table", "function": "analyze_data", "notes": "Includes footnotes (a) and (b) regarding revolver details and AOL merger adjustments.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/243", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-243", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 244, "slideType": "appendix_data", "function": "establish_context", "notes": "The slide provides a detailed organizational chart showing ownership percentages and debt obligations, followed by a paragraph summarizing financial projections.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/244", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-244", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 245, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes footnotes (a), (b), and (c) detailing data sources and context.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/245", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-245", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 246, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Page 224 from a Lazard presentation; includes detailed footnotes regarding financial data and credit ratings.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/246", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-246", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 247, "slideType": "appendix_data", "function": "analyze_data", "notes": "Contains a line chart comparing credit spreads of various Comcast bonds and text summaries of Comcast and Cablevision financial positions.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/247", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-247", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 248, "slideType": "appendix_data", "function": "analyze_data", "notes": "Contains historical credit spread data for Cablevision and leverage/operational metrics for Charter Communications.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/248", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-248", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 249, "slideType": "appendix_data", "function": "analyze_data", "notes": "Contains two line charts showing credit spreads over US Treasuries for various debt instruments, alongside descriptive financial summaries for Cox and Mediacom.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/249", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-249", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 250, "slideType": "appendix_data", "function": "analyze_data", "notes": "Page 228 of a larger document.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/250", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-250", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 251, "slideType": "cite_precedent", "function": "cite_precedent", "notes": "Includes specific credit rating history table and details on debt financing and covenant structures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/251", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-251", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 252, "slideType": "appendix_data", "function": "analyze_data", "notes": "Contains specific financial benchmarks for TWC, CVC, CSC Holdings, and Insight Communications.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/252", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-252", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 253, "slideType": "appendix_data", "function": "analyze_data", "notes": "The slide provides competitive context for TWC's market position relative to RBOCs and other cable operators.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/253", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-253", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 254, "slideType": "key_takeaways", "function": "summarize", "notes": "This slide acts as a summary of key operational and financial metrics for TWC.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/254", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-254", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 255, "slideType": "propose_solution", "function": "propose_solution", "notes": "Includes a table of TWE bond spreads as of 1/27/06.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/255", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-255", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 256, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes a comparison of 4.75x vs 6.0x leverage scenarios in the text.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/256", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-256", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 257, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes detailed footnotes regarding leverage assumptions, interest rates, and covenant amendments.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/257", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-257", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 258, "slideType": "appendix_data", "function": "analyze_data", "notes": "This is a financial disclosure slide from a Lazard presentation, likely part of an activist campaign or M&A advisory deck.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/258", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-258", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 259, "slideType": "disclaimer", "function": "other", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/259", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-259", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 260, "slideType": "cover", "function": "front_matter", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/260", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-260", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 261, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/261", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-261", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 262, "slideType": "table_of_contents", "function": "front_matter", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/262", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-262", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 263, "slideType": "valuation_table", "function": "show_valuation_bridge", "notes": "The slide uses a sum-of-parts valuation logic to justify a higher implied share price compared to the current trading price.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/263", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-263", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 264, "slideType": "problem_statement", "function": "diagnose_problem", "notes": "Includes citations for quotes from former executives supporting the 'stand-alone' business argument.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/264", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-264", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 265, "slideType": "precedent_table", "function": "cite_precedent", "notes": "The slide uses analyst quotes to justify the thesis that the conglomerate structure destroys value.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/265", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-265", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 266, "slideType": "valuation_table", "function": "show_valuation_bridge", "notes": "The slide demonstrates how specific operational adjustments (conglomerate discount removal and cost rationalization) bridge the gap between current analyst SOTP estimates and a higher implied value.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/266", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-266", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 267, "slideType": "thesis_headline", "function": "propose_solution", "notes": "The slide uses a numbered list to detail the specific benefits of a corporate separation (breakup/spinoff).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/267", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-267", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-5545fa71721e", "docSlug": "852eb8103109", "documentTitle": "Time Warner Inc. (TWX)", "authorId": "14_Icahn", "authorName": "Lazard", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2006-02-01 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 268, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a table to demonstrate the lack of overlap between TWX analysts and pure-play internet analysts.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/268", "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-268", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true } ] }