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Press release from Business Wire

Time Warner Announces Kevin Tsujihara to Become CEO of Warner Bros.

<p class='bwalignc'> </p> <p class='bwalignc'> <b>Tsujihara to take reins as CEO in March 2013, with Barry Meyer remaining as Chairman through year-end</b> </p>

Monday, January 28, 2013

Time Warner Announces Kevin Tsujihara to Become CEO of Warner Bros.12:41 EST Monday, January 28, 2013 NEW YORK (Business Wire) -- Time Warner Inc. (NYSE: TWX) Chairman and CEO Jeff Bewkes and Warner Bros. Chairman and CEO Barry Meyer today announced that Kevin Tsujihara will become the next Chief Executive Officer of Warner Bros. Entertainment. Mr. Tsujihara will become CEO beginning March 1, 2013, succeeding Mr. Meyer, who will remain as Chairman through 2013. Kevin Tsujihara, President, Warner Bros. Home Entertainment and next Warner Bros. Entertainment CEO (Photo: Business Wire) In making the announcement Mr. Bewkes said, “Kevin is one of the most effective and respected executives within Time Warner, and the right leader to ensure Warner Bros.' preeminence into the future. He brings the perfect combination of strategic thinking, financial discipline, digital vision, and management style to build on Warner Bros.' track record of success under Barry Meyer.” Mr. Meyer added, “In working with Kevin for nearly 20 years, I've come to know and value a talented executive with a passion for this company and its people. He has skillfully guided one of the most complex businesses at Warner Bros. during a time of transition in the home entertainment sector, and has a deep appreciation and respect for the films and TV shows we create. Kevin has a rare combination of extraordinary business acumen and a love for the art of storytelling, and I'm confident he will be a great leader for Warner Bros.” Over the next several months, Mr. Meyer and Mr. Tsujihara will work together with other members of Warner Bros. senior executive team, including Warner Bros. Television President Bruce Rosenblum and Warner Bros. Pictures President Jeff Robinov, to ensure an orderly transition. As President of Warner Bros. Home Entertainment Group since 2005, Mr. Tsujihara currently oversees the company's home video, digital distribution, videogames, anti-piracy, and emerging technology operations. Mr. Tsujihara said, “It is an honor to have the opportunity to lead this storied business. We're at a pivotal moment in the histories of Hollywood and entertainment: technology is changing the canvas we use to create theatrical releases; home entertainment is rapidly evolving; and the definition of television now includes viewing across a wide range of devices and services. But in my mind one thing remains clear and constant: Warner Bros.' unmatched ability to tell stories that inspire, educate, and entertain global audiences. We are extremely fortunate to have strong relationships with some of the industry's most gifted talent and together we will continue to use those relationships, our scale, and our passion to build on Warner Bros. great legacy.” Mr. Tsujihara joined Warner Bros. in 1994 as Director, Special Projects, Finance to assist in the management of the company's interest in Six Flags. Across his nearly two decades with the company he has served as Executive Vice President, Corporate Business Development & Strategy, Warner Bros. Entertainment and, Executive Vice President, New Media, responsible for the oversight of all Warner Bros.' new media endeavors. Mr. Tsujihara received his bachelor's degree in business administration from the University of Southern California and his MBA from Stanford University. He sits on the Board of Directors for the MPAA, City Year Los Angeles, an education focused, nonprofit organization, the Los Angeles Sports & Entertainment Commission, Kabam, the Verdugo Hills Hospital Foundation, and the Entertainment Software Association. About Time Warner Inc. Time Warner Inc., a global leader in media and entertainment with businesses in television networks, film and TV entertainment and publishing, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide through multiple distribution outlets. About Warner Bros. Entertainment Warner Bros. Entertainment is a global leader in all forms of entertainment and their related businesses across all current and emerging media and platforms. A Time Warner Company, the fully integrated, broad-based Studio is home to one of the most successful collections of brands in the world and stands at the forefront of every aspect of the entertainment industry from feature film, television and home entertainment production and worldwide distribution to Blu-ray and DVD, digital distribution, animation, comic books, video games, product and brand licensing and broadcasting. Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130128006144/en/ Sue Fleishman, 818-954-1919susan.fleishman@warnerbros.com