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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 table uses placeholder numbers (1-6) instead of actual financial data, likely for illustrative purposes in the deck.",
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      "kind": "callout",
      "text": "AOL's projected performance is below United Online, Earthlink, and MSN, with continued declines of 7% and 9% for the same time periods.",
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      "text": "3 Year Growth",
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      "kind": "paragraph",
      "text": "For reporting purposes, revenue is classified into two categories: Subscription and Advertising. The Subscription segment generally reports revenue from users of AOL's Internet access services and other digital services.",
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      "text": "Over the past two years, AOL's revenue has remained relatively flat, in line with the revenue trend at Earthlink, the closest comparable company in the US market.",
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      "text": "Source: Information and estimates based on various Wall Street research reports.",
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      "text": "Exhibit 2A.26: AOL PEER BENCHMARKING – SUBSCRIPTION ($ MM)",
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      "text": "Benchmarking Analysis Relative to Peers",
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