TIME Warner Inc said it will report a loss for last year after recording a non-cash impairment charge of about US$25 billion before taxes in the fourth quarter.

The impairment stems from a reassessment of cable, publishing and AOL assets, the world's biggest media company said yesterday in a statement distributed by Business Wire. The New York-based company now anticipates a loss for last year after previously forecasting a profit from continuing operations of as much as US$1.07 a share.