POWER OF ATTORNEY
 
     KNOW  ALL MEN BY THESE PRESENTS, that  each of the undersigned officers and
directors of  TIME  WARNER INC.,  a  Delaware corporation  (the  'Corporation'),
hereby  constitutes and appoints  RICHARD J. BRESSLER, PETER  R. HAJE, GERALD M.
LEVIN and PHILIP R. LOCHNER, JR., and each  of them, his or her true and  lawful
attorneys-in-fact and agents, with full power to act without the others, for him
or  her and in his or  her name, place and stead,  in any and all capacities, to
sign a Registration Statement on Form S-3 or other appropriate form and any  and
all  amendments  to any  such  Registration Statement  (including post-effective
amendments) and any subsequent Registration Statements filed by the  Corporation
pursuant  to  Rule  462(b)  of  the Securities  Act  of  1933,  as  amended (the
'Securities Act'), to be  filed with the Securities  and Exchange Commission  in
connection  with the registration under the  provisions of the Securities Act of
one or more of  the following (i)  12,057,561 Preferred Exchangeable  Redemption
Cumulative  Securities  ('PERCS') of  Time  Warner Financing  Trust,  a Delaware
business trust,  all  of  the  common  securities of  which  are  owned  by  the
Corporation,  (ii) Guarantees  of the PERCS  by the  Corporation, (iii) Exchange
Rights of the Corporation  with respect to  the PERCS, (iv)  up to $500  million
aggregate  principal amount  of Subordinated  Notes of  the Corporation  and (v)
other securities  of the  Corporation, in  any combination  thereof, with  power
where  appropriate to affix thereto the corporate seal of the Corporation and to
attest said seal, and to file any such Registration Statement, including a  form
of  prospectus, and any and all  amendments and post-effective amendments to any
such Registration Statement, and any subsequent Registration Statements filed by
the Corporation pursuant to Rule 462(b) of the Securities Act, with all exhibits
thereto, and any and all documents in connection therewith, with the  Securities
and Exchange Commission, hereby granting unto said attorneys-in-fact and agents,
and  each of them, full power  and authority to do and  perform any and all acts
and things requisite  and necessary to  be done  in and about  the premises,  as
fully  to all intents  and purposes as  he or she  might or could  do in person,
hereby ratifying and confirming all  that said attorneys-in-fact and agents,  or
any of them, may lawfully do or cause to be done by virtue hereof.
 
     IN  WITNESS WHEREOF, each  of the undersigned  has hereunto set  his or her
name as of the 7th day of June, 1995.
 

                                                               
(i)    Principal Executive Officers:
        /s/ Gerald M. Levin                                             /s/ Richard D. Parsons
       ...............................................                  ...............................................
       Gerald M. Levin                                                  Richard D. Parsons
       Director, Chairman of the Board                                  Director and President
       and Chief Executive Officer
 
(ii)   Principal Financial:                                     (iii)   Principal Accounting Officer:
       Officer:
       /s/ Richard J. Bressler                                          /s/ John A. LaBarca
       ...............................................                  ...............................................
       Richard J. Bressler,                                             John A. LaBarca,
       Senior Vice President and Chief Financial                        Vice President and Controller
       Officer

 


                                                               
(iv)   Directors:
       /s/ Merv Adelson                                                 /s/ Reuben Mark
       ...............................................                  ...............................................
       Merv Adelson,                                                    Reuben Mark,
       Director                                                         Director

       /s/ Lawrence B. Buttenwieser                                     /s/ Michael A. Miles
       ...............................................                  ...............................................
       Lawrence B. Buttenwieser,                                        Michael A. Miles,
       Director                                                         Director

       /s/ Edward S. Finkelstein                                        /s/ J. Richard Munro
       ...............................................                  ...............................................
       Edward S. Finkelstein,                                           J. Richard Munro,
       Director                                                         Director

       /s/ Beverly Sills Greenough                                      /s/ Donald S. Perkins
       ...............................................                  ...............................................
       Beverly Sills Greenough,                                         Donald S. Perkins,
       Director                                                         Director

       /s/ Carla A. Hills                                               /s/ Raymond S. Troubh
       ...............................................                  ...............................................
       Carla A. Hills,                                                  Raymond S. Troubh,
       Director                                                         Director

       /s/ David T. Kearns                                              /s/ Francis T. Vincent, Jr.
       ...............................................                  ...............................................
       David T. Kearns,                                                 Francis T. Vincent, Jr.,
       Director                                                         Director

       /s/ Henry Luce III
       ...............................................
       Henry Luce III,
       Director