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.
(the 'Guarantor') and Time Warner Companies, Inc. (the 'Issuer') for the
registration of $950 million of Debt Securities of the Issuer unconditionally
guaranteed by the Guarantor, and to the incorporation by reference therein of
(i) our reports dated February 11, 1997, with respect to the consolidated
financial statements and schedules of the Guarantor 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 the Guarantor's Annual Report on Form 10-K for
the year ended December 31, 1996, as amended by the Guarantor's Forms 10-K/A
dated March 27, 1997 and June 26, 1997, and (ii) our report dated March 8, 1996,
with respect to the consolidated financial statements and schedule of
Cablevision Industries Corporation and Subsidiaries, from the Guarantor's
Current Report on Form 8-K dated March 21, 1997, filed with the Securities and
Exchange Commission.
 
                                          ERNST & YOUNG LLP
 
New York, New York
October 13, 1997