Lazards Merchant Bank Issues Report On Time Warner

NEW YORK – FEBRUARY 7: Carl Icahn (C) greets people prior to a media conference, where Lazard issued a report on Time Warner, at the St. Regis on February 7, 2006 in New York City. Icahn is seeking to overthrow Time Warner’s board, break up the media conglomerate into four companies, and have Frank Biondi take over as Time Warner chief executive. (Photo by Michael Nagle/Getty Images)