June 10, 2003 |
AOL Time Warner Inc. may sell the compact disc manufacturing arm of its music business "in the next month or so," Chairman and Chief Executive Richard Parsons said. A sale might happen before the end of the second quarter, Parsons said at the National Cable & Telecommunications Assn.'s annual conference in Chicago. The CD-making operation, part of the company's Warner Music Group unit, could fetch about $1 billion, people familiar with the matter have said.
CALIFORNIA | LOCAL
November 29, 1993 |
Construction on the north jetty at Ventura Harbor began earlier this month and is expected to be completed in mid-December, harbor officials said. Crews are lengthening the jetty by 300 feet as part of a $7.7-million project intended to improve safety and reduce dredging costs. The first phase of the project--building a 650-foot rock seawall on the beach south of the harbor--was completed earlier this month. After the jetty is extended, the breakwater will be lengthened by 300 feet.
March 22, 2008 |
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.
July 9, 2004 |
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.
May 10, 2003 |
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.
December 8, 2004 |
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.
December 11, 2001 |
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.
September 15, 2005 |
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.
May 21, 2005 |
Time Warner Inc., having pared its debt by $11 billion in three years, plans to start paying the company's first dividend since its acquisition by America Online four years ago. The 5-cent quarterly payouts will start in September and are "the beginning of a commitment we hope will grow over time," Time Warner Chief Executive Richard Parsons said Friday at the company's annual meeting in New York. Based on Time Warner's 4.
December 11, 2002 |
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.