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.
March 21, 2003 |
Media mogul Ted Turner ended weeks of speculation by announcing that he intended to remain a director at AOL Time Warner Inc. while holding to his plan to step down as vice chairman of the entertainment giant in May. Turner formally informed the board of his decision at its meeting Thursday in New York. Earlier this week, he said he believed that his media experience would continue to be helpful, particularly during the Iraq war.
January 30, 2003 |
Battered media giant AOL Time Warner Inc. posted an annual loss of $98.7 billion, the largest in corporate history, after taking another massive charge to reflect the falling value of its Internet unit and other properties. The company's $45.5-billion fourth-quarter write-off, tied largely to the America Online division, was more than double Wall Street expectations. The noncash charge resulted in a loss of $44.9 billion, or $10.04 a share, for the quarter.
May 16, 2003 |
John Billock, second in command at AOL Time Warner Inc.'s cable unit, can't forget the day he and Jeff Bewkes tried to sail the 20-odd miles from Martha's Vineyard to Nantucket Island back when they were executives at HBO. They set out in a small boat with no motor or compass. After five hours fighting dead-on winds in shoals, fog and heavy water, Bewkes declared: "Look, we're only halfway. We can keep going, but chances are 50-50 that we're going to die."
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.
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.
December 7, 2004 |
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.
CALIFORNIA | LOCAL
February 11, 1995 |
Work has begun to repair damage to the Ventura Harbor caused by last month's heavy storms, officials said Friday. The $1.15-million repair job involves dredging the harbor to remove silt and repairing the breakwater, which began to crumble from the pounding of heavy surf. Dredging of the harbor entrance began Sunday, said Richard Parsons, general manager of the Ventura Port District. The repair work comes just six months after the completion of a $7.
CALIFORNIA | LOCAL
February 6, 1992 |
Ventura County's two congressmen have asked a key congressional panel for $5.2 million next year to extend a breakwater at the mouth of the Ventura Harbor to cut down on dredging and make the harbor safer for boaters. Reps. Elton Gallegly (R-Simi Valley) and Robert J. Lagomarsino (R-Ventura) sent a letter Tuesday to the House Appropriations Committee asking that money be allocated now to save money in the long run.