Memo: Court TV Joins Turner Broadcasting

(Emphasis added)

May 12, 2006

To: TBS, Inc. Colleagues

From: Phil Kent

Re: Court TV

Today Time Warner is announcing that Court TV will join the Turner Broadcasting portfolio of networks and businesses. This strategic addition to our company is the result of a transaction between Time Warner and Liberty Media Corporation in which Time Warner has acquired Liberty Media’s ownership stake in Court TV, making Time Warner its sole owner. The press release outlining this transaction can be found here. Effective immediately, Court TV becomes part of our company’s entertainment division, under the leadership of Mark Lazarus. Court TV’s strong branding, quality programming and new media extensions are similar in structure, scale and success to that of our networks. With Court TV, our company adds marketplace presence, growing businesses on emerging platforms and new colleagues who are leading industry professionals. Our design is simple: Court TV will make Turner stronger, and Turner will make Court TV stronger. You’ll be hearing much more from us about Court TV in the coming weeks and months. Many of you will have the opportunity to work closely with members of the talented Court TV team. I know you’ll do all you can to welcome them to our company. We share the same goal: to make Court TV even more successful and to extend Turner Broadcasting’s record of success in an increasingly challenging business landscape.