EXHIBIT 23.2
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
     We  hereby consent  to the incorporation  by reference of  our report dated
January 19, 1995, except  as to Note 6,  which is as of  January 27, 1995,  with
respect to the financial statements and schedule of Paragon Communications which
are  incorporated by reference in  this Annual Report on  Form 10-K for the year
ended December 31, 1994, in each of the following:
 
           1. Registration Statement No. 333-11471 on Form S-4;
 
           2. Post-Effective  Amendment  No.  1 to  Registration  Statement  No.
     333-11471 on Form S-4 filed on Form S-8;
 
           3.  Post-Effective  Amendment  No. 2  to  Registration  Statement No.
     333-11471 on Form S-4 filed on Form S-8;
 
           4. Post-Effective  Amendment  No.  3 to  Registration  Statement  No.
     333-11471 on Form S-4 filed on Form S-8;
 
           5.  Post-Effective  Amendment  No. 4  to  Registration  Statement No.
     333-11471 on Form S-4 filed on Form S-8;
 
           6. Post-Effective  Amendment  No.  5 to  Registration  Statement  No.
     333-11471 on Form S-4 filed on Form S-8;
 
           7.  Post-Effective  Amendment  No. 1  to  Registration  Statement No.
     333-14053 on Form S-8;
 
           8. Registration Statement No. 333-14611 on Form S-3;
 
         9. Registration Statement No. 333-17171  on Form S-3 (and  Registration
     Statement  No. 333-17171-01 of Time Warner  Companies, Inc. as to which the
     prospectus  also  relates  to  post-effective  amendment  to   Registration
     Statement No. 33-50237 of Time Warner Companies, Inc.); and
 
          10.  Registration Statement  No. 33-61497 on  Form S-8  of Time Warner
     Companies, Inc.
 
                                          PRICE WATERHOUSE LLP
 
Denver, Colorado
March 21, 1997