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Time Warner Inc. Announces Plan to Separate AOL
May 28, 2009

NEW YORK – Time Warner Inc. (NYSE:TWX) today announced that its Board of Directors has authorized management to proceed with plans for the complete legal and structural separation of AOL from Time Warner. Following the proposed transaction, AOL would be an independent, publicly traded company.

Time Warner Chairman and Chief Executive Officer Jeff Bewkes said: “We believe that a separation will be the best outcome for both Time Warner and AOL. The separation will be another critical step in the reshaping of Time Warner that we started at the beginning of last year, enabling us to focus to an even greater degree on our core content businesses. The separation will also provide both companies with greater operational and strategic flexibility. We believe AOL will then have a better opportunity to achieve its full potential as a leading independent Internet company.”

After the proposed separation is complete, AOL will compete as a standalone company – focused on growing its Web brands and services, which currently reach more than 107 million domestic unique visitors a month, as well as its advertising business, which operates the leading online display network that reaches more than 91% of the domestic online audience. AOL will also continue to operate one of the largest Internet access subscription services in the U.S.

AOL Chairman and Chief Executive Officer Tim Armstrong said: “This will be a great opportunity for AOL, our employees and our partners. Becoming a standalone public company positions AOL to strengthen its core businesses, deliver new and innovative products and services, and enhance our strategic options. We play in a very competitive landscape and will be using our new status to retain and attract top talent. Although we have a tremendous amount of work to do, we have a global brand, a committed team of people, and a passion for the future of the Web.”

Today, Time Warner owns 95% of AOL, and Google holds the remaining 5%. As part of a prior arrangement, Time Warner expects to purchase Google’s 5% stake in AOL in the third quarter of 2009. After repurchasing this stake, Time Warner will own 100% of AOL. Accordingly, once the proposed separation is completed, Time Warner shareholders will own all of the outstanding interests in AOL.

The proposed transaction will be structured as tax-free to Time Warner stockholders. The transaction is contingent on the satisfaction of a number of conditions, including completion of the review process by the Securities and Exchange Commission of required filings under applicable securities regulations and the final approval of transaction terms by Time Warner’s Board of Directors. Time Warner aims to complete the proposed transaction around the end of the year.

Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about the plans, objectives, expectations and intentions of Time Warner, including the benefits of the proposed separation of AOL from Time Warner, and other statements that are not historical facts. These statements are based on the current expectations and beliefs of Time Warner’s and AOL’s management and are subject to uncertainty and changes in circumstances. Time Warner cautions readers that any forward-looking information is not a guarantee of future performance and that actual results may vary materially from those expressed or implied by the statements herein due to the conditions to the consummation of the proposed separation of AOL from Time Warner, and changes in economic, business, competitive, technological, strategic and/or regulatory factors, as well as other factors affecting the operation of the other businesses of Time Warner and of AOL. More detailed information about these factors may be found in filings by Time Warner with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K in the sections entitled “Caution Concerning Forward-Looking Statements” and “Risk Factors” and its most recent Quarterly Report on Form 10-Q. Various factors could cause actual results to differ from those set forth in the forward-looking statements, including, without limitation, the risk that the anticipated benefits from the proposed separation may not be fully realized or may take longer to realize than expected. Time Warner is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

About AOL LLC
AOL LLC is a global Web services company that operates some of the most popular Web destinations, offers a comprehensive suite of free software and services, runs one of the largest Internet access businesses in the U.S., and provides a full set of advertising solutions. A majority-owned subsidiary of Time Warner Inc., AOL LLC and its subsidiaries have operations in the U.S., Europe, Canada and Asia. Learn more at AOL.com.

About Time Warner Inc.
Time Warner Inc., a global leader in media and entertainment with businesses in television networks, filmed entertainment, publishing and interactive services, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide through multiple distribution platforms. For more information about Time Warner Inc., please visit www.timewarner.com.

NAB URGES CONGRESS TO OPPOSE
RECORD LABEL BAILOUT

– 50 State Broadcaster Associations also express opposition –

WASHINGTON, DC — NAB President and CEO David Rehr urged lawmakers to oppose legislation introduced that would force America’s hometown radio stations to pay a new “performance fee” to the recording industry for music aired free on the radio. The legislation, introduced in the House, is supported by the Recording Industry Association of America (RIAA). A measure opposing today’s Congressional action is expected to be introduced shortly.

“Local radio broadcasters consider this fee a ‘performance tax’ that will not only harm your local radio stations, but will threaten new artists trying to break into the business as well as your constituents who rely on local radio,” wrote Rehr. “Although the proponents of H.R. 848 claim this bill is about compensating artists, in actuality at least half of this fee will go directly into the pockets of the big record labels, funneling billions of dollars to companies based overseas.”

Three of the four largest record label conglomerates — Universal Music Group, Sony Music Entertainment, and EMI — are internationally-based.

“Although the big record labels have seen their revenues decline over the last decade, local radio broadcasters are not the reason the recording industry is losing money, and it should not be the industry to fix it,” wrote Rehr.

To read a version of Rehr’s letter to House lawmakers, click here.

State broadcast associations representing all 50 states, as well as Puerto Rico and the District of Columbia, also issued a resolution today expressing opposition to a performance tax.

On numerous occasions, both record label executives and artists have recognized the promotional value of free radio airplay. Such statements include:

“I love a strong radio hit. All of us. That’s what our job is, to have a radio hit. Without radio, we couldn’t do what we do, but the job is to have a radio hit that sounds unique, and like you.”

— Jewel, Grammy-nominated recording artist, ‘Nashville Star,’ July 2008

“Alright, let’s talk about the nuts and bolts. If you win ‘Nashville Star’, you have to get on 200 major market radio stations. You have to.”

— John Rich, Big and Rich, ‘Nashville Star,’ July 2008

“I have to thank… every DJ, every radio guy, every promotions guy, everybody who ever put up a poster for me and spread the word.”

— Alicia Keys, recording artist and Grammy winner, 2008 Grammy Awards, February 2008

“[R]adio remains the best way to get new music into the listeners’ lives.”

–Sony BMG Executive VP Butch Waugh as quoted in Radio & Records, January 11

“[R]adio is the conduit to the people, the voice of the format and the lifestyle’s soundtrack.

-Sony BMG Nashville VP of Marketing Tom Baldrica, as quoted in Radio & Records, January 11

“Obviously, radio is probably the most important thing for a new rock band coming out. If you don’t get yourself on the radio, then you won’t draw bodies at the clubs and you won’t sell records.”

— ‘Another Animal’ drummer Shannon Larkin, Drum Magazine, 2008

“Country radio, thank you so much for being our mouthpiece. You know what we do means nothing if it never gets played, and no one gets to hear it.”

— ‘Rascal Flatts,’ Vocal Group of the Year, Country Music Awards, 2007

“I can’t even believe that this is real… I want to thank country radio. I’ll never forget the chance you took on me.”

— Taylor Swift, Horizon Award (for best new artist), Country Music Awards, 2007

“I have yet to see the big reaction you want to see to a hit until it goes on the radio. I’m a big, big fan of radio.”

–Richard Palmese, Executive Vice President of Promotion, RCA, 2007

“Radio has proven itself time and time again to be the biggest vehicle to expose new music.”

— Ken Lane, Senior Vice President for Promotion, Island Def Jam Music Group, 2005

“It is clearly the number one way that we’re getting our music exposed. Nothing else affects retail sales the way terrestrial radio does.”

–Tom Biery, Senior Vice President for Promotion, Warner Bros. Records, 2005

“That’s the most important thing for a label, getting your records played.”

— Eddie Daye, recording artist, 2003

“Radio helped me a lot. That’s the audience. I can’t see them, but I know they’re there. I can’t reach out and touch them with my hand, but I know they’re there.”

— B.B. King, recording artist, 2002

“If a song’s not on the radio, it’ll never sell.”

— Mark Wright, Senior Vice President, MCA Records, 2001

“Air play is king. They play the record, it sells. If they don’t, it’s dead in the water.”

— Jim Mazza, President, Dreamcatcher Entertainment, 1999

“I am so grateful to radio. Their support has truly changed my life, and I hope they know how appreciative I am for that.”

— Jo Dee Messina, recording artist, 1999

About NAB
The National Association of Broadcasters is the premier advocacy association for America’s broadcasters. As the voice of more than 8,300 radio and television stations, NAB advances their interests in legislative, regulatory and public affairs. Through advocacy, education and innovation, NAB enables broadcasters to best serve their communities, strengthen their businesses and seize new opportunities in the digital age. Learn more at www.nab.org.

Photography By Ed Simmons

Queen is said to be considering “American Idol” runner-up Adam Lambert as their new frontman.

Brian May and Roger Taylor of Quenn performed We Are The Champions with Adam Lambert and Kris Allen just prior to the announcement of the winner of American Idol. The Idol contestants began the song then it was revealed that the real Queen was there, too , playing alongside.

KRIS ALLEN IS CROWNED THE “AMERICAN IDOL”

Record-Setting Nearly 100 Million Votes Cast Last Night; 624 Million Total Votes Cast This Season

Two-Hour Spectacular Season Finale Featured Appearances by Queen Latifah, Jason Mraz, Keith Urban, Fergie, The Black Eyed Peas, Cyndi Lauper, Lionel Richie, KISS, Carlos Santana, Steve Martin and Rod Stewart.

Last Year’s Winner David Cook Returned to AMERICAN IDOL Stage

Auditions Set for Season Nine in Boston, Atlanta, Chicago, Dallas, Los Angeles, Orlando and Denver

The eighth season of AMERICAN IDOL came to a sensational conclusion tonight as Kris Allen was crowned the winner during the live two-hour season finale on FOX. A new record was set after almost 100 million votes were received following Tuesday’s performance show. In addition, 624 million total votes were cast during Season Eight – more than any other season in the show’s history.

It was a duel between Kris Allen and Adam Lambert, who each performed three songs on Tuesday night’s final competition show. Allen, from Conway, AR, emerged as America’s choice in a competition that began with more than 100,000 hopefuls who turned out in San Francisco, CA; Louisville, KY; Phoenix, AZ; Salt Lake City, UT; San Juan, PR; Kansas City, MO; Jacksonville, FL; and East Rutherford, NJ.

Allen capped his coronation on Wednesday’s finale by singing “No Boundaries,” co-written by IDOL judge Kara DioGuardi, Cathy Dennis and Mitch Allan. The song is available for download exclusively on americanidol.com and iTunes.

Last year’s winner, David Cook, returned to the AMERICAN IDOL stage to perform his new single, “Permanent.”

The broadcast from the NOKIA Theatre L.A. LIVE in downtown Los Angeles also featured appearances by Queen Latifah, Jason Mraz, Keith Urban, Fergie, The Black Eyed Peas, Cyndi Lauper, Lionel Richie, KISS, Carlos Santana, Steve Martin, Rod Stewart and Queen.

Lambert and KISS rocked the house with a medley of “Beth,” “Detroit Rock City” and “Rock and Roll All Nite,” while Allen took the stage with Keith Urban to sing “Kiss a Girl.” Third-place finisher Danny Gokey performed “Hello,” “Just Go” and “All Night Long” with Lionel Richie, and Allison Iraheta sang “Time After Time” with Cyndi Lauper. Finalists Anoop Desai and Alexis Grace sang “I’m Yours” with Jason Mraz, while Lil Rounds and Queen Latifah performed “Cue the Rain.” Reunited for the first time, the Top 13 joined Carlos Santana for his hits “Black Magic Woman” and “Smooth.” The Top 5 girls joined Fergie on the chart-topping songs “Glamorous” and “Big Girls Don’t Cry,” and The Black Eyed Peas performed “Boom Boom Pow.” Rod Stewart joined the Top 8 guys on stage to perform a medley of “Hot Legs,” “Some Guys Have All the Luck,” “Da Ya Think I’m Sexy” and “Maggie May.” In addition, finalists Megan Joy and Michael Sarver performed “Pretty Flowers” with Steve Martin. To cap off the night, Allen and Lambert joined Queen in a show-stopping rendition of “We Are the Champions.”

On Tuesday night’s final competition, Allen and Lambert each performed three songs. Allen sang “Ain’t No Sunshine,” “What’s Going On” and “No Boundaries,” while Lambert sang “Mad World,” “A Change is Gonna Come” and “No Boundaries.”

Kris Allen is the eighth American Idol to win the coveted title and a record contract with 19 Recordings. He joins Kelly Clarkson, Ruben Studdard, Fantasia, Carrie Underwood, Taylor Hicks, Jordin Sparks and David Cook.

Alchemist Photography Artist’s Statement
Alchemist Art Show

Philadelphia, PA — Five bands perform to a sold-out crowd. Hey Monday, Cobra Starship, Metro Station, All Time Low and Fall Out Boy

Radio stations 102.1 and 104.5 put on a concert at Festival Pier, Penns Landing, Philadelphia, PA. They said, “Rain Or Shine”. Maybe they should have said, “Rain And Shine”.

At 5:00pm, there was a long, long line waiting in the rain for the 6:30 show. They had drenched clothes and blankets, broken umbrellas and soaked heads. The gates opened at 6:00. As soon as the line started moving, the sun broke through the clouds, the rain stopped and the sky turned blue. Everyone figured it was all over and left their rain gear. Inside, the general admission “seating” basked in the warmth of a beautiful evening. Hey Monday played under the sweet sunlight. Cobra Starship rocked out as the sun started setting behind them. Then, something began to feel amiss. During Metro Station’s set, giant clouds started rolling overhead. Splash! The rain came pouring down. Within an instant, it was a massive wet t-shirt contest.

The show went on rain… and, shine… and, rain… and….

Hey Monday
The first band to take the stage was Hey Monday. Hey Monday is an American pop punk band from West Palm Beach, Florida, United States. Fronted with a female singer, Cassadee Pope, they played a spirited and spunky set that included: Run Don’t Walk, Candles, How Do You Love Me Now and Homecoming.

Cobra Starship at Penn's Landing, Festival Pier, Philadelphia, PA

Cobra Starship
It was a little surprising that Cobra Starship was the second act. Of the five bands, they were probably the second best performance of the night. Their music is a powerful blend of punk, pop, techno, mosh, funk and rock. As vocalist, Gabe Saporta, said, we “bring it all together.”

They appeared to get pleasure from playing in front of the sold-out crowd. There was plenty of interaction with the audience, as well as, encouragement to “go for what you want”. In fact, by the time their set was done, they had converted the entire audience into Cobras. Having taught the uninitiated the proper hand sign, thousands upon thousands of arms could be seen held high in the air creating a sea of snakes.

set list
1. The City Is At War
2. Smile For The Paparazzi
3. Kiss My Sass [With A Verse From Hollaback Boy]
4. Bring It (Snakes on a Plane)
5. Pete Wentz Is The Only Reason We’re Famous
6. Guilty Pleasure

Metro Station
Hmmm… what can be said about Metro Station? Despite the downpour during their set, they still didn’t float my boat. On the other hand, they were quite dance-able. The age group of dancers was diverse, too. From eleven year olds to fifty year olds, people couldn’t help but dance and sing. Perhaps some people like to dance to disco more than listen to disco? It seemed like the songs went something like: Kelsey, Now That We’re Done, Dead And Gone [cover], Seventeen Forever and Shake It.

All Time Low
You’d think Metro Station would be the all time low, but as All Time Low took the stage you’d have to think again. (just kidding) Sure, All Time Low also started out a little too disco. When they started showing their harder edge, about half way through, the sound started to bring you back up. As Poppin’ Champagne started playing, they got a bit easier to swallow. The last song, Dear Maria, Count Me In, redeemed their status to — Yeah!

Fall Out Boy at Festival Pier, Penn's Landing, Philadelphia, PA

Fall Out Boy
What can be said about Fall Out Boy? A: They rock.
The sound was on the money. If not that, at least worth the price of the ticket to get in. It kind-of blew you off your feet, yet, was not so loud as to deafen your ears. With a solid sound and charismatic stage presence, it was easy to understand why they were the headliner.

They continued the sing-a-long theme of the evening. That is to say, the patrons new just about every word to every song to every band. A few of the highlights included: Sugar, We’re Going Down, I Don’t Care and This Ain’t A Scene, It’s An Arms Race.