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Richard Parsons

BUSINESS
March 22, 2008 | From Bloomberg News
Time Warner Inc. Chief Executive Jeffrey Bewkes was paid $19.6 million last year, a 4.9% increase, as the company's stock declined 24%. Chairman Richard Parsons, who gave up the CEO role during the year, was paid less. His total compensation dropped to $18.6 million from $22.5 million, the company said Friday in a filing with the Securities and Exchange Commission. Bewkes, named CEO on Nov. 5 after two years as president and chief operating officer, is considering selling assets, including publications and the AOL network.
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BUSINESS
July 9, 2004 | From Bloomberg News
News Corp. Chairman Rupert Murdoch said Metro-Goldwyn-Mayer Inc. might not be worth the $5 billion that Sony Corp. is considering offering for the film studio and its movie library. "Personally, I can't see the value, but I could be proved wrong," Murdoch said in an interview in Sun Valley, Idaho, where he was attending Allen & Co.'s annual media conference. Murdoch said he would be "very surprised" if a purchase of MGM was negotiated by participants at the conference, who included Sony Corp.
BUSINESS
May 10, 2003 | From Bloomberg News
AOL Time Warner Inc. Chief Executive Richard Parsons is facing a revolt from two of the company's biggest investors as they plan to vote against some directors in protest of auditing issues, board independence and a plunge of more than 70% in share value since 2001. The California Public Employees' Retirement System said it won't vote for five directors of AOL Time Warner.
BUSINESS
July 30, 2007 | Claudia Eller, Times Staff Writer
Thirteen years ago, when Sumner Redstone was busy building Viacom Inc. into a media powerhouse and needed a helping hand to run the family's theater chain, he turned to his daughter, Shari Redstone, who was home raising her three children. When theater circuits began going belly up in the late 1990s, it was Shari who kept National Amusements Inc. on track. She expanded the company globally, taking National into Russia and Latin America.
ENTERTAINMENT
December 8, 2004 | From a Times staff writer
A year after winning construction approval from Congress and President Bush, the Smithsonian Institution said Tuesday it is about to receive the first federal appropriation for the planned National Museum of African American History and Culture. The $3.9-million appropriation for 2005 will be used for engineering studies, planning and staffing, the Smithsonian said. The institution also announced that it has appointed 19 members to the African American museum's council.
BUSINESS
September 18, 2006 | From Reuters
Telecom Italia agreed to buy Time Warner Inc.'s AOL Internet access business in Germany for 675 million euros ($854 million) in cash, the companies said Sunday. The companies expect to close the deal within six months after regulatory approvals. The move would make Telecom Italia the second-largest broadband provider in Germany, with more than 3.2 million total subscribers including nearly 2 million broadband customers, the companies said in a statement.
BUSINESS
December 11, 2001 | Sallie Hofmeister
Ted Turner, who was expected to step down as vice-chairman of AOL Time Warner Inc. at the end of the year, probably will renew his contract, company sources said. The cable mogul, who is one of the largest shareholders of the company, has been at odds with AOL chief Gerald Levin, who demoted Turner from an operating role as part of a management restructuring after the merger of Time Warner and AOL in January.
BUSINESS
September 15, 2005 | From Bloomberg News
Time Warner Inc. is considering strategies to increase value for shareholders, including those demanded by investor Carl Icahn, Chief Executive Richard Parsons told employees. A group of investors led by Icahn has built a stake of 2.6% in New York-based Time Warner stock and options and is asking the company to buy back $20 billion of shares and spin off its cable-systems unit to help increase the stock.
BUSINESS
December 11, 2002 | From Associated Press
The complexity of merging two news operations has stalled any CNN-ABC deal, AOL Time Warner Inc. Chief Executive Richard Parsons said Tuesday. Parsons, in a speech before the annual UBS Warburg Media Week conference, said a merger would make good business sense because it would allow ABC to benefit from CNN's international reporting expertise, while CNN could expand its audience via ABC's stations and generally broad reach. CNN is owned by AOL Time Warner; ABC is owned by Walt Disney Co.
BUSINESS
December 7, 2004 | From Bloomberg News
Time Warner Inc., the world's largest media company, may give some of its $6.9 billion in cash back to shareholders, Chief Executive Richard Parsons said. "Our focus is shifting from stabilizing and repositioning the company to deciding how to deploy our growing capacity," Parsons, 56, said at a UBS media conference in New York. "In the coming months, we will also be reviewing programs to directly return capital to shareholders," he said, without being specific.
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