Carl Icahn Value Quotations

I believe there is great value for Time Warner if it were broken into parts, ... get away from the huge cost structure and excessive layers of management at the top, both literally at the Time Warner Center, and figuratively.

It is my belief that, if the proper partner were allowed to have control of AOL, shareholder value would be much more greatly enhanced than through a half-hearted joint venture that might only serve the purpose of entrenching management.

We're happy that value for all shareholders is enhanced through this offer.

To the extent that opportunities are now available to enhance value at AOL, which we believe there are, we implore management and the Board to move more decisively than they have in the past.

Doing this AOL deal is on the way, but not enough, to enhancing shareholder value at Time Warner, ... It proves my point that there is a great deal of unrealized value here. The best investment the company can make is in their own stock at this time.

The Icahn Group believes that these actions would immediately narrow the gap between the current share price of Time Warner and the true value of Time Warner?s assets, which the Icahn Group believes is significantly higher,