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  "documentTitle": "Time Warner Inc. (TWX)",
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  "authorName": "Lazard",
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  "presentationDate": "2006-02-01 00:00:00",
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  "notes": "The slide justifies TWC's valuation multiple by highlighting its industry-leading OIBDA growth.",
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      "text": "TWC is forecasted to generate industry-leading growth in OIBDA, which is the primary justification for an industry-leading multiple.",
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      "text": "Exhibit 4.79: OIBDA GROWTH",
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      "text": "Exhibit 4.80: OIBDA COMPOUNDED ANNUAL GROWTH RATE, 2006 - 2009",
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      "text": "OIBDA CAGR: 9.7%",
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      "text": "including (i) TWC's strong growth potential... (vi) greater competition from the RBOCs in Comcast's top markets. TWC is forecasted to generate industry-leading growth in OIBDA, which is the primary justification for an industry-leading multiple.",
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      "text": "Source: Information and estimates based on various Wall Street research reports.",
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      "text": "CHAPTER 4: VALUATION",
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