<ARTICLE> 5 <LEGEND> TIME WARNER INC. FINANCIAL DATA SCHEDULE This schedule contains summary financial information extracted from the financial statements of Time Warner Inc. for the quarter ended June 30, 1995 and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1,000,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> JUN-30-1995 <CASH> 597 <SECURITIES> 0 <RECEIVABLES> 2,033 <ALLOWANCES> 738 <INVENTORY> 444 <CURRENT-ASSETS> 3,167 <PP&E> 1,551 <DEPRECIATION> 755 <TOTAL-ASSETS> 17,788 <CURRENT-LIABILITIES> 2,945 <BONDS> 9,593 <COMMON> 384 <PREFERRED-MANDATORY> 0 <PREFERRED> 4 <OTHER-SE> 1,091 <TOTAL-LIABILITY-AND-EQUITY> 17,788 <SALES> 3,724 <TOTAL-REVENUES> 3,724 <CGS> 2,122 <TOTAL-COSTS> 2,122 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 429 <INCOME-PRETAX> 33 <INCOME-TAX> 88 <INCOME-CONTINUING> (55) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (55) <EPS-PRIMARY> (.17) <EPS-DILUTED> (.17)