Time Warner Inc. (TWX) SEC Filing 10-Q Quarterly report for the period ending Friday, September 30, 2016

Exhibit 99.1

TIME WARNER INC. REPORTS THIRD-QUARTER 2016 RESULTS

Third-Quarter Highlights

NEW YORK, November 2, 2016 – Time Warner Inc. (NYSE:TWX) today reported financial results for its third quarter ended September 30, 2016.

Chairman and Chief Executive Officer Jeff Bewkes said: “We had a strong third quarter, which keeps us on track to exceed our original 2016 outlook and underscores our leadership in creating and distributing the very best content. In television, HBO took home more Primetime Emmy Awards than any other network for the 15^th consecutive year and Time Warner’s divisions won a total of 40 Emmys, more than any other company. CNN’s standout election coverage made it the #1 news network in primetime among adults 18-49 for the fourth consecutive quarter and Turner’s momentum doesn’t stop there. Year-to-date, TBS, TNT and Adult Swim are three of the top five ad-supported cable networks in primetime among adults 18-49. In film, Warner Bros. had a strong quarter led by Suicide Squad and has the #1 release of the fall in Sully, while anticipation is off the charts for J.K. Rowling’s Fantastic Beasts and Where to Find Them, which hits the big screen on November 18.”

Mr. Bewkes continued: “The agreement we announced on October 22 to be acquired by AT&T Inc. represents a great outcome for our shareholders and an excellent opportunity to drive long-term value well into the future. Combining with AT&T is the natural next step in the evolution of our business and allows us to significantly accelerate our most important strategies.”

Company Results

Revenues grew 9% to $7.2 billion, Operating Income increased 10% to $2.0 billion and Adjusted Operating Income increased 12% to $2.1 billion due to increases at all operating divisions and lower intercompany eliminations. Revenues included the unfavorable impact of foreign exchange rates of approximately $55 million in the quarter.

The Company posted Diluted Income per Common Share from Continuing Operations (“EPS”) of $1.87 compared to $1.26 for the prior year quarter. Adjusted Diluted Income per Common Share from Continuing Operations (“Adjusted EPS”) was $1.83 versus $1.25 for the prior year quarter. EPS and Adjusted EPS included a net tax benefit of $0.28 related to an Internal Revenue Service (“IRS”)-approved tax accounting method change.

For the first nine months of 2016, Cash Provided by Operations from Continuing Operations reached $3.5 billion and Free Cash Flow totaled $3.3 billion.