Philip I. Kent Rejoins Turner Broadcasting System, Inc., as Chairman and Chief Executive Officer.

Business Editors

NEW YORK & ATLANTA--(BUSINESS WIRE)--Feb. 18, 2003

Jamie Kellner Returning to California to Continue as Chairman and CEO

of The WB Network through Summer of 2004

AOL Time Warner (NYSE:AOL) today announced that Philip I. Kent, a veteran

He will report to Jeffrey Bewkes, Chairman of AOL Time Warner's Entertainment & Networks Group.

Jamie Kellner, who has led Turner for the past two years in Atlanta, will return to California and continue as Chairman and CEO of The WB Network through the end of his employment agreement in the summer of 2004.

Mr. Kent will lead the CNN News Group; Turner's entertainment networks, including TNT, TBS Superstation, Cartoon Network, Turner Classic Movies, Turner South and Boomerang; and Turner Sports, as well as the Turner Sports properties, which include the Atlanta Braves, Hawks and Thrashers and Philips Arena. He will begin to work immediately with Mr. Kellner on a transition plan and then formally take over as Turner's Chairman and CEO on March 10.

Mr. Kent brings a wide range of professional experience to his new position and has earned a strong reputation as a leader and team builder throughout Turner. As President of Turner Broadcasting System International, he was instrumental in shifting the international strategy of the Turner news and entertainment networks toward a more regional and local focus. At CNN, he was an early architect of many of the news group's current strategic initiatives and was instrumental in the recruitment and retention of key on-air and executive talent. Through his varied career in television, Mr. Kent has worked effectively with a full range of customers and constituents of TBS - entertainment and journalism talent, cable and satellite operators and advertisers throughout the world, as well as a diverse and multicultural workforce.

Mr. Bewkes said: "I am delighted that Phil Kent is coming back to Turner to lead the world's most successful cable entertainment networks and most respected television news organization. With his many years of experience within the Turner businesses and his strong working relationships across Turner and AOL Time Warner, Phil is uniquely qualified to continue the tremendous success that Jamie has achieved over the past two years. He has worked extensively both domestically and internationally for Turner, and Phil deserves much credit for making CNN and Cartoon Network such strong and profitable global brands. Dick Parsons and I are confident that Phil's leadership, vision and expertise make him the right person for this job and we extend our gratitude and deep respect to Jamie for his many accomplishments at Turner."