<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>

                                                                   Exhibit 27.3
                                TIME WARNER INC.
                        RESTATED FINANCIAL DATA SCHEDULE


         This schedule contains summary financial information extracted from the
restated financial  statements of Time Warner Inc. for the six months ended June
30,  1999 and is  qualified  in its  entirety  by  reference  to such  financial
statements.
</LEGEND>
<MULTIPLIER> 1,000,000

<S>                                                           <C>
<PERIOD-TYPE>                                                 6-MOS
<FISCAL-YEAR-END>                                             DEC-31-1999
<PERIOD-START>                                                JAN-01-1999
<PERIOD-END>                                                  JUN-30-1999
<CASH>                                                                  421
<SECURITIES>                                                              0
<RECEIVABLES>                                                         5,566
<ALLOWANCES>                                                          1,351
<INVENTORY>                                                           6,113
<CURRENT-ASSETS>                                                      8,305
<PP&E>                                                               13,601
<DEPRECIATION>                                                        5,272
<TOTAL-ASSETS>                                                       47,633
<CURRENT-LIABILITIES>                                                 8,165
<BONDS>                                                              17,300
<COMMON>                                                                 12
<PREFERRED-MANDATORY>                                                     0
<PREFERRED>                                                               2
<OTHER-SE>                                                            9,078
<TOTAL-LIABILITY-AND-EQUITY>                                         47,633
<SALES>                                                              12,622
<TOTAL-REVENUES>                                                     12,622
<CGS>                                                                 6,411
<TOTAL-COSTS>                                                         6,411
<OTHER-EXPENSES>                                                          0
<LOSS-PROVISION>                                                          0
<INTEREST-EXPENSE>                                                      740
<INCOME-PRETAX>                                                       1,368
<INCOME-TAX>                                                            637
<INCOME-CONTINUING>                                                     731
<DISCONTINUED>                                                            0
<EXTRAORDINARY>                                                           0
<CHANGES>                                                                 0
<NET-INCOME>                                                            731
<EPS-BASIC>                                                         0.56
<EPS-DILUTED>                                                         0.54



</TABLE>