Exhibit 99



                          TIME WARNER

News Release


For Immediate Release

TIME WARNER WINS F.T.C. INITIAL APPROVAL
FOR MERGER WITH TURNER

NEW YORK, Sept. 12, 1996--Time Warner Inc. announced today that the
Federal Trade Commission had given its initial approval to the Consent
Order, enabling the Time Warner acquisition of Turner Broadcasting
System, Inc. (TBS) to go forward. The Consent Order was entered into
by the FTC staff with Time Warner, Turner Broadcasting System, Inc.
and Tele-Communications, Inc. (TCI). The Consent Order is subject to a
60-day public comment period and final acceptance by the FTC. Time
Warner also said that both it and TBS will hold shareholder meetings
on October 10, 1996, in New York to approve the merger.

Time Warner Inc., the world's leading media company, consists of three
fundamental businesses: entertainment, news and information and
telecommunications, with interests in filmed entertainment, television
production, broadcasting, recorded music, music publishing,
cable-television programming, theme parks, magazines, book publishing
and cable-television systems.


From:
Edward Adler
(212) 484-6630

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