February 23, 2008 |
Time Warner Inc. said in its annual regulatory filing Friday that it expected to cut more jobs in its magazine publishing division in the first quarter, resulting in $10 million to $20 million in expenses. Time Inc. spokeswoman Dawn Bridges said that the job cuts affected fewer than 100 people and that most of them already had occurred in various parts of the company. Time Inc. has a global workforce of more than 10,000.
February 7, 2008 |
Time Warner Inc. said Wednesday that it was splitting AOL into two parts in a move analysts predicted would pave the way for a sale of the slumping Internet-access business that made the online pioneer famous. Chief Executive Jeffrey Bewkes, in his first conference call with analysts since succeeding Richard Parsons as CEO in December, said the company was optimistic about AOL's faster-growing content and advertising sales business.
November 10, 2007 |
Time Warner Inc. signed a five-year employment agreement with incoming Chief Executive Jeffrey L. Bewkes and signaled that Bewkes would add the chairman's title at the end of next year. The media conglomerate, in a regulatory filing Friday, said Bewkes would receive annual base pay of $1.75 million, plus an annual target bonus of $8.5 million. The base pay is a raise from his $1.25-million salary this year as president and chief operating officer, and the target bonus is up from $7.5 million.
November 7, 2007 |
Jeffrey Bewkes, the incoming chief executive of Time Warner Inc., named John K. Martin to be chief financial officer. Both begin their new jobs Jan. 1. Martin had most recently been chief financial officer of Time Warner Cable, one of the largest business units of Time Warner and the second-largest cable company in the country, behind Comcast Corp. Martin, 40, succeeds Wayne Pace, 61, who is retiring.
October 27, 2007 |
Time Warner Inc. said no decision had been made on when Richard Parsons would step down as chief executive of the world's largest media company. Parsons may announce the handoff to President Jeffrey Bewkes as early as next week, the London-based Times reported on its website. The topic was discussed at a board meeting in London this week, the Times said. New York-based Time Warner confirmed the meeting but said the company had no comment.
September 6, 2007 |
Time Warner Inc.'s publishing division will close its Business 2.0 magazine next month because advertising sales have declined. Business 2.0, which has covered the technology industry in Silicon Valley since 1998, will be folded into Fortune magazine, Time Inc. Chief Operating Officer John Squires told employees. Josh Quittner, Business 2.0's managing editor since 2002, will become executive editor at Fortune, Squires said.
August 2, 2007 |
Strength in cable TV helped Time Warner Inc. increase second-quarter earnings 5%, beating analyst forecasts Wednesday, though the results were clouded by the AOL Internet unit. The New York-based media conglomerate, which owns CNN, HBO and the Time Inc. publications, said it earned $1.07 billion, or 28 cents a share, ahead of last year's profit of $1.01 billion, or 24 cents. Revenue rose 6% to just under $11 billion.
May 19, 2007 |
At Time Warner Inc.'s annual shareholder meeting Friday, investors appeared to be more concerned about such issues as the compensation of its top executives and the media giant's stock performance over the last five years than the circumstances surrounding last week's firing of HBO chief Chris Albrecht.
May 16, 2007 |
Billionaire investor Carl Icahn cut his stake in Time Warner Inc. by almost half in the first quarter while adding shares of oil and railroad companies. Icahn's funds reduced holdings of New York-based Time Warner to 12.9 million shares from 25 million at the end of December, according to Securities and Exchange Commission filings. He bought 3.1 million shares of oil producer Anadarko Petroleum Corp. and 4.59 million shares of oil drilling-rig contractor Pride International Inc.
April 18, 2007 |
Time Warner Inc. directors will consider reducing the company's 84% stake in its cable unit at a meeting next month, according to a person with knowledge of the board's agenda. The company probably will keep a majority of Time Warner Cable Inc., its fastest-growing unit, said the person, who declined to be identified because the discussions are confidential. The board will meet next month.