TWX Time Warner Inc. New

Item 1.01. Entry into a Material Definitive Agreement.

On December 16, 2016, Time Warner Inc. (“Time Warner”) entered into the Third Amendment, dated as of December 16, 2016 (the “Third Amendment”), to the Amended and Restated Credit Agreement, dated as of January 19, 2011, as amended and restated as of December 18, 2013, as further amended by the First Amendment, dated as of December 18, 2014, and the Second Amendment, dated as of December 18, 2015 (as amended, the “Amended and Restated Credit Agreement”), among Time Warner and Time Warner International Finance Limited, as borrowers, the lenders from time to time party thereto and Citibank, N.A., as administrative agent, to amend its two $2.5 billion senior unsecured revolving credit facilities. The Third Amendment extends the maturity dates of both revolving credit facilities by one year to December 18, 2021 and eliminates the swingline loan sub-facility included in one of the revolving credit facilities. All other material terms of the Amended and Restated Credit Agreement will remain the same for each credit facility, including the provision that provides for up to two additional one-year extensions with lender consent. As of December 16, 2016, there were no borrowings outstanding under the revolving credit facilities, and Time Warner had approximately $1.2 billion in commercial paper outstanding. The outstanding commercial paper is supported by the committed capacity under the revolving credit facilities.

The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the Third Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.