{
  "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": 318,
  "pageCount": 371,
  "prevPage": 317,
  "nextPage": 319,
  "slideType": "valuation_table",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 24,
  "notes": "Includes footnotes (a), (b), and (c) detailing the composition of peer groups and OIBDA adjustments.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "valuation_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dc-5545fa71721e/318",
  "deckHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5545fa71721e#slide-318",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Taking into account a number of considerations such as the premier franchise, distribution network, strong library of Filmed Entertainment, relative projected financial performance and analysis of selected comparables, the implied enterprise value of Filmed Entertainment was viewed to be 11.0x - 12.0x 2006PF OIBDA.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-14dc-7419-88ba-12dea7bda29e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.5,
        "x": 0.118,
        "y": 0.907
      },
      "kind": "disclaimer",
      "text": "(a) Represents the median of News Corp., Viacom and Walt Disney. (b) Represents the median of DreamWorks and Lions Gate Entertainment. (c) Includes corporate expenses of $33 million.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "eb1236ff-ccce-469e-84fe-1be8ddaa61cc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "OIBDA multiple: 11.0x",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-14dc-7419-88ba-17ba8148fbab",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.764,
        "x": 0.118,
        "y": 0.119
      },
      "kind": "paragraph",
      "text": "Taking into account a number of considerations such as the premier franchise, distribution network, strong library of Filmed Entertainment, relative projected financial performance and analysis of selected comparables, the implied enterprise value of Filmed Entertainment was viewed to be 11.0x - 12.0x 2006PF OIBDA.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "56f24514-3c7c-450b-a4e5-4bf360ad1e61",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.01,
        "w": 0.55,
        "x": 0.118,
        "y": 0.442
      },
      "kind": "source-note",
      "text": "Source: Information and estimates based on various Wall Street research reports and company filings.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b5456401-24e0-4f78-9eea-a178454a3ce9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.764,
        "x": 0.118,
        "y": 0.235
      },
      "kind": "table",
      "text": "Comparable company analysis table with Enterprise Value, Revenue, and OIBDA multiples.",
      "attrs": null,
      "subkind": "valuation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7fcae53b-1ba9-4806-817e-b703c1d2af57",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.764,
        "x": 0.118,
        "y": 0.203
      },
      "kind": "title",
      "text": "Exhibit 4.57: FILMED ENTERTAINMENT – COMPARABLE COMPANY ANALYSIS ($ MM)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1392bf2a-07ca-4caf-a7ac-5e6ae89c4a54",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "54aa2dd3-5331-4dc8-875a-b0f8b3d02db5",
      "evidence": "Comparable company analysis table",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}