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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": "Includes a table (Exhibit 4.64) detailing valuation approaches and a list of qualitative business attributes.",
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      "text": "Leading magazine and book publishing company; Collection of first class assets; Diverse portfolio; Strong, well-established franchises; Benefits from economies of scale; Strong existing relationships; Low volatility; Opportunity to streamline; Investment grade; 2% dividend yield",
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      "text": "The following valuation analysis is based solely on publicly available information on Publishing as a whole. Detailed financial information on the various businesses within Publishing (e.g., Books, Magazines and Direct Marketing) is not disclosed by TWX and is limited.",
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      "text": "(a) The divisions of TWX already incur most of the costs related to a standalone company. Analysis assumes total 2006PF corporate overhead of $100 million allocated for TWX across Networks, Filmed Entertainment, Publishing and AOL on the basis of revenues.",
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      "text": "Exhibit 4.64: VALUATION METHODOLOGIES",
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      "text": "IX. PUBLISHING: SUMMARY VALUATION",
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