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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": "Page 288 from a Lazard valuation report.",
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      "text": "Total Value: $870 million",
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      "text": "TWX's 50% stake in Court TV is accounted for using the equity method and is therefore not included in the OIBDA for Networks as reported. A separate value of $783 - $870 million was ascribed for the 50% interest in Court TV based on a value of $18.00 - $20.00 per households reached.",
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      "text": "On January 24, 2006, TWX and CBS announced the merger of the WB and UPN Networks into a new network called the CW. Both TWX and CBS will each own 50% of the new network. The WB and UPN will cease operations in September 2006 when The CW will commence broadcasting. The analysis assumes that TWX will account for this investment as an unconsolidated asset. The Tribune Company, which owned 22.5% of the WB, exchanged its interest in the WB for a 10-year deal to carry The CW on its major market affiliates. The analysis assumes a $500 million value for TWX's stake in The CW.",
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      "text": "On March 31, 2004, the Company completed the sale of an 85% interest in Turner's winter sports teams (the Atlanta Thrashers, an NHL team, and the Atlanta Hawks, an NBA team) and the entity holding the operating rights to Philips Arena, an Atlanta sports and entertainment venue, to Atlanta Spirit for an estimated $250 million. Based on the value of Atlanta Spirit implied by the transaction, Turner's 10% interest in Atlanta Spirit is assumed to have a value of $29 million.",
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      "text": "Exhibit 4.50: COURT TV ($ MM) Households: 87.0, Value Per Household: $18.00-$20.00, Total Value: $1,566-$1,740, 50% Share: $783-$870",
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      "text": "E. Unconsolidated Assets",
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