Time Warner to redeem remaining $219.97 million 5.5% notes due 2011

By Marisa Wong

Madison, Wis., Aug. 31 - Time Warner Inc. announced that it plans to redeem all $219,974,000 of its outstanding 5.5% notes due 2011.

The notes are expected to be redeemed on Sept. 30 at the redemption price plus accrued interest up to the redemption date.

The redemption price will equal the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest on the notes, discounted to the redemption date on a semiannual basis at the Treasury rate plus 20 basis points.

Based in New York, Time Warner has businesses in television networks, filmed entertainment and publishing.

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