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Time Warner Inc. Names Mitchell A. Klaif Chief Information Officer

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Time Warner Inc. Executive Vice President and Chief Financial Officer Howard Averill today announced that Mitchell A. Klaif has been named Senior Vice President and Chief Information Officer. He will oversee the Corporate Information Technology Group and will lead the execution of Time Warner’s enterprise-wide information technology strategy.

In announcing Mr. Klaif’s appointment, Mr. Averill said: “Mitch is a proven leader in his field with vast experience managing a global IT organization. He played an essential role in Time Inc.’s transition into an independent company, having led multiple successful initiatives to transform the business, including the push to make Time Inc. the first publisher to offer its titles to customers across every digital platform. Mitch’s innovative spirit and commitment to furthering the work of our enterprise-wide efficiency initiatives will be an asset to our company.”

Mr. Klaif joins Time Warner after 17 years at Time Inc., including seven years as the company’s Chief Information Officer and Chief Technology Officer. In his previous role, Mr. Klaif was responsible for overseeing information technology throughout Time Inc. worldwide, including technology and e-commerce for more than 115 magazines, 40 branded websites and Time Inc.’s direct marketing businesses. His last year at Time Inc. was spent focusing on the spin-off from Time Warner and leading many of the complex transitional initiatives that prepared Time Inc. to be an independent public company.

Before joining Time Inc. in 1997, Mr. Klaif was President and CEO of a privately held start-up venture, VIAM Communications Group, Ltd. Prior to this, he spent 18 years at Dow Jones working in a variety of operations and technical positions including Deputy Director of the International Group of Information Services, General Manager of the Far Eastern Economic Review, and Director of International Operations and Administration.

Mr. Klaif graduated with honors from Rochester Institute of Technology with a Bachelor of Science degree in printing management.

About Time Warner Inc.

Time Warner Inc., a global leader in media and entertainment with businesses in television networks and film and TV entertainment, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide on a multi-platform basis.

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