EXHIBIT 23.1
 
                        CONSENT OF INDEPENDENT AUDITORS
 
     We consent to the references to our firm under the caption 'Experts' in the
Registration  Statement on Form  S-3 and related prospectus  of Time Warner Inc.
('New Time Warner') and Time Warner Companies, Inc. ('Old Time Warner') for  the
registration of $550,581,500 of Old Time Warner Debt Securities  unconditionally
guaranteed by New Time  Warner, and  to the  incorporation  by reference therein
of (i) our reports  dated February 6,  1996, with  respect  to the  consolidated
financial  statements  and  schedules  of  Old  Time  Warner  and   Time  Warner
Entertainment Company,  L.P., and  our  report dated March  3, 1995 with respect
to the combined financial statements  of  the Time Warner  Service Partnerships,
incorporated  by reference  from  Old  Time Warner's Annual Report  on Form 10-K
for the year  ended  December 31, 1995,   as  amended  by   Old  Time   Warner's
Form 10-K/A, dated June  27, 1996, and (ii) our report dated March 8, 1996, with
respect to the consolidated  financial statements  and schedule  of  Cablevision
Industries  Corporation  and  Subsidiaries, and our reports dated July 28, 1995,
with   respect  to  the  financial  statements  of  Newhouse Broadcasting  Cable
Division of  Newhouse  Broadcasting  Corporation  and  Subsidiaries  and  Vision
Cable  Division  of  Vision   Cable Communications,  Inc. and Subsidiaries, from
New Time Warner's Current  Report on Form 8-K  dated  November 14,  1996,  filed
with the Securities and Exchange Commission.
 
                                          ERNST & YOUNG LLP
 
New York, New York
November 25, 1996