<ARTICLE> 5 <LEGEND> TIME WARNER INC. Exhibit 27 FINANCIAL DATA SCHEDULE This schedule contains summary financial information extracted from the financial statements of Time Warner Inc. for the quarter ended March 31, 1995 and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1,000,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> MAR-31-1995 <CASH> 309 <SECURITIES> 0 <RECEIVABLES> 1,921 <ALLOWANCES> 766 <INVENTORY> 409 <CURRENT-ASSETS> 2,640 <PP&E> 1,459 <DEPRECIATION> 711 <TOTAL-ASSETS> 16,608 <CURRENT-LIABILITIES> 2,713 <BONDS> 9,001 <COMMON> 380 <PREFERRED-MANDATORY> 0 <PREFERRED> 1 <OTHER-SE> 732 <TOTAL-LIABILITY-AND-EQUITY> 16,608 <SALES> 1,817 <TOTAL-REVENUES> 1,817 <CGS> 1,103 <TOTAL-COSTS> 1,103 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 210 <INCOME-PRETAX> (15) <INCOME-TAX> 32 <INCOME-CONTINUING> (47) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (47) <EPS-PRIMARY> (.13) <EPS-DILUTED> (.13)