1
 
                                                                    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
Companies, Inc. for the registration of $750 million of Guarantees, 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 Time
Warner Inc. ("TWI") 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 TWI's Annual
Report on Form 10-K for the year ended December 31, 1996, as amended by TWI'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 TWI'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
November 3, 1997