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  "documentTitle": "Time Warner Inc. (TWX)",
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  "notes": "Includes two distinct tables: Exhibit 4.84 (Transaction list) and Exhibit 4.85 (Valuation summary).",
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      "text": "Based on the multiples implied by the precedent transactions reviewed, a range of 10.0x - 11.5x 2006PF OIBDA was estimated for the wholly-owned cable systems of TWC.",
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      "text": "Enterprise Value: $51.5 - $59.3 billion",
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      "text": "The Precedent Transaction Analysis for TWC involved the review of mergers and acquisitions transactions in the cable sector involving 50,000 or more basic subscribers over the 2001 - 2005 period. The transactions that were reviewed are shown in Exhibit 4.84.",
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      "text": "Based on the multiples implied by the precedent transactions reviewed, a range of 10.0x - 11.5x 2006PF OIBDA was estimated for the wholly-owned cable systems of TWC. This would imply a hypothetical private market BAV of $51.5 - $59.3 billion for TWC.",
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