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  "documentTitle": "Time Warner Inc. (TWX)",
  "authorId": "14_Icahn",
  "authorName": "Lazard",
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  "presentationDate": "2006-02-01 00:00:00",
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  "notes": "Part of a Lazard activist deck, page 174.",
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      "text": "Note: All TWC and CMCSA figures are pro forma for the Adelphia/Comcast transactions.",
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      "text": "Telephony ARPU at TWC is projected to decline from $42 in 2006 to $36 in 2009. Unit volume is projected to increase over the projection period, though, unit pricing is projected to decline as the competitive environment for telephony will likely become more price-driven.",
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      "text": "Source: Information and estimates based on various Wall Street research reports.",
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      "text": "Exhibit 2D.41: TELEPHONY ARPU",
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