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  "documentTitle": "Time Warner Inc. (TWX)",
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  "authorName": "Lazard",
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  "notes": "The slide argues that the Publishing division is undervalued as part of TWX and should command a premium multiple.",
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      "text": "OIBDA: $11.7 billion",
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      "text": "(a) Excludes any corporate allocation.",
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      "text": "CHAPTER 4: VALUATION",
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