Gerald Levin

The government's new rules for cable TV penalize the industry too harshly and will harm development of better communications systems, the head of the nation's largest media company said Tuesday. Gerald Levin, chairman and chief executive of Time Warner Inc., sharply criticized the Federal Communications Commission, which last month invoked the second rate cut in less than a year on the industry.

Former Time Warner chief Gerald Levin and his wife, Laurie Ann Levin, founder and chief executive of the Moonview Sanctuary psychological institute, have put their Marina del Rey house on the market at $2.49 million. The three-story, 3,842-square-foot home, built in 1997, sits on a corner lot. There are multiple balconies, four bedrooms, four bathrooms, office space and outdoor patio spaces. Public records show the property last changed hands in 1997 for $936,000. Barbra Stover of Rodeo Realty in Beverly Hills is the listing agent.

Police combed a poor section of New York City for a high school dropout wanted for questioning in the murder of the son of Time Warner Inc.'s top executive. Police sources said the youth was a former student of the slain man, Jonathan Levin, at Taft High School. Dozens of officers, some armed with automatic weapons, searched Brooklyn's largely black Bedford-Stuyvesant district for the suspect and evidence linked to the crime.

Criticized for staying behind the scenes for much of the last year, AOL Time Warner Inc. Chairman Steve Case is under pressure to stage a comeback. Some company executives want Case--the billionaire founder of America Online--to move his full-time office from the Internet company's old headquarters in Virginia to New York, where most of the big decisions are now made. Others hope Case will take a more visible role on Capitol Hill, lobbying legislators and regulators.

Gerald Levin, who surprised the media world last week with his plans to retire as chief executive of AOL Time Warner, dismissed any speculation Tuesday that friction with Chairman Steve Case had anything to do with his decision. "I recognize the action I've taken, no one will accept on its face," Levin told reporters before delivering a lunch address to Los Angeles civic and business leaders.

Time Warner Inc. options rose Wednesday on fresh speculation that Chairman Gerald Levin will step aside, according to Wall Street sources. Time Warner denied the rumors, which have plagued Levin intermittently for two years because of the company's stagnant stock price. Options to buy Time Warner shares at $40 in March rose 29% in heavy trading. In effect, investors were betting that Levin will be out by that month, bumping up Time Warner's stock price.

For years they were fierce rivals within the high-stakes corporate worlds of Time Inc. and Time Warner in New York N.J. Nicholas Jr., the tightly wound financial expert, and Gerald M. Levin, the scholarly strategist. Nicholas gained the upper hand in early going, and he went on to become president of Time Warner. But in the end, the company's strategic interests won out.

Former Time Warner chief Gerald Levin and his wife, Laurie Ann Levin, founder and chief executive of the Moonview Sanctuary psychological institute, have put their Marina del Rey house on the market at $2.49 million. The three-story, 3,842-square-foot home, built in 1997, sits on a corner lot. There are multiple balconies, four bedrooms, four bathrooms, office space and outdoor patio spaces. Public records show the property last changed hands in 1997 for $936,000. Barbra Stover of Rodeo Realty in Beverly Hills is the listing agent.

Criticized for staying behind the scenes for much of the last year, AOL Time Warner Inc. Chairman Steve Case is under pressure to stage a comeback. Some company executives want Case--the billionaire founder of America Online--to move his full-time office from the Internet company's old headquarters in Virginia to New York, where most of the big decisions are now made. Others hope Case will take a more visible role on Capitol Hill, lobbying legislators and regulators.

Ted Turner will be hundreds of millions of dollars richer, at least on paper, if his company is acquired this week by Time Warner Inc., as many observers now expect. But those who know Turner best say he does not intend to retire to his ranch in Montana with Jane Fonda once the proposed deal is done. "Ted expects to play a major role in the future at Time Warner," said one executive who is close to him. "He's not doing this deal to cash out or play a role in title only.

Gerald Levin, who surprised the media world last week with his plans to retire as chief executive of AOL Time Warner, dismissed any speculation Tuesday that friction with Chairman Steve Case had anything to do with his decision. "I recognize the action I've taken, no one will accept on its face," Levin told reporters before delivering a lunch address to Los Angeles civic and business leaders.

In a move that stunned the entertainment world, Gerald Levin announced Wednesday that he will retire in May as chief executive of AOL Time Warner Inc., the world's largest media company. Levin's successor will be his longtime deputy, Richard Parsons, 53, who became co-chief operating officer in January 2000 as part of Time Warner's merger with AOL. Levin chose Parsons over Robert Pittman, former America Online president, who has shared the COO title since the landmark merger in January.

Police combed a poor section of New York City for a high school dropout wanted for questioning in the murder of the son of Time Warner Inc.'s top executive. Police sources said the youth was a former student of the slain man, Jonathan Levin, at Taft High School. Dozens of officers, some armed with automatic weapons, searched Brooklyn's largely black Bedford-Stuyvesant district for the suspect and evidence linked to the crime.

Time Warner Inc. options rose Wednesday on fresh speculation that Chairman Gerald Levin will step aside, according to Wall Street sources. Time Warner denied the rumors, which have plagued Levin intermittently for two years because of the company's stagnant stock price. Options to buy Time Warner shares at $40 in March rose 29% in heavy trading. In effect, investors were betting that Levin will be out by that month, bumping up Time Warner's stock price.

Ted Turner will be hundreds of millions of dollars richer, at least on paper, if his company is acquired this week by Time Warner Inc., as many observers now expect. But those who know Turner best say he does not intend to retire to his ranch in Montana with Jane Fonda once the proposed deal is done. "Ted expects to play a major role in the future at Time Warner," said one executive who is close to him. "He's not doing this deal to cash out or play a role in title only.

The government's new rules for cable TV penalize the industry too harshly and will harm development of better communications systems, the head of the nation's largest media company said Tuesday. Gerald Levin, chairman and chief executive of Time Warner Inc., sharply criticized the Federal Communications Commission, which last month invoked the second rate cut in less than a year on the industry.

The notion of a Time Warner annual meeting without Chairman Steven J. Ross sends a shiver down the spine of some shareholders. But with the charismatic chief sidelined by prostate cancer, Time Warner executives may be privately relieved that a sideshow has materialized to distract those attending the annual gathering Thursday in Beverly Hills. Far easier to grapple with the First Amendment issues raised by the company's distribution of the controversial "Cop Killer" song than Ross' mortality.

In a move that stunned the entertainment world, Gerald Levin announced Wednesday that he will retire in May as chief executive of AOL Time Warner Inc., the world's largest media company. Levin's successor will be his longtime deputy, Richard Parsons, 53, who became co-chief operating officer in January 2000 as part of Time Warner's merger with AOL. Levin chose Parsons over Robert Pittman, former America Online president, who has shared the COO title since the landmark merger in January.

The notion of a Time Warner annual meeting without Chairman Steven J. Ross sends a shiver down the spine of some shareholders. But with the charismatic chief sidelined by prostate cancer, Time Warner executives may be privately relieved that a sideshow has materialized to distract those attending the annual gathering Thursday in Beverly Hills. Far easier to grapple with the First Amendment issues raised by the company's distribution of the controversial "Cop Killer" song than Ross' mortality.

For years they were fierce rivals within the high-stakes corporate worlds of Time Inc. and Time Warner in New York N.J. Nicholas Jr., the tightly wound financial expert, and Gerald M. Levin, the scholarly strategist. Nicholas gained the upper hand in early going, and he went on to become president of Time Warner. But in the end, the company's strategic interests won out.