Time Warner’s Proposed Separation of Time Inc.

On March 6, 2013, Time Warner Inc. announced that its Board of Directors has authorized management to proceed with plans for the complete legal and structural separation of Time Inc. from Time Warner. Cravath is representing Time Warner in connection with this transaction. Following the proposed transaction, Time Inc. would be an independent, publicly traded company. Time Warner aims to complete the proposed transaction by the end of the calendar year.

The Cravath team is being led by partner Richard Hall on corporate matters and partners Stephen L. Gordon and Lauren Angelilli on tax matters.