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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": "The chart uses red dots to specifically call out Turner-owned channels, contrasting them with other industry channels.",
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      "text": "TWX, despite owning a large and profitable cable programming businesses and one of the largest US cable operators, has failed to develop valuable networks over the last ten years.",
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      "kind": "chart",
      "text": "2005 SUBSCRIBERS AS A FUNCTION OF START DATE",
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      "text": "Launching new channels is difficult and expensive for cable programmers. Consumers generally are not inclined to pay for more channels and the most obvious programming genres are already covered by more than one cable network...",
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      "text": "Information Source: Wall Street research, Kagan Research and Company filings.",
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      "kind": "title",
      "text": "A RECORD OF UNDERPERFORMANCE IN LAUNCHING NEW CHANNELS",
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